The University of Alabama, OM 300, Final Exam Questions With Complete Solutions
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Course
OM 300
Institution
OM 300
The University of Alabama, OM 300, Final
Exam Questions With Complete Solutions
What is vertical integration? - Developing the ability to produce goods or services
previously purchased within the company OR just buying the supplier
-Two types: forward and backward
- Benefits: Cost reduction,...
Forward integration Moving closer to the finished goods of customers,
-Involves the purchase or control of DISTRIBUTORS moving to finished goods
Backward integration Purchasing of a SUPPLIER
-it can improve efficiency and save money (raw materials)
Four stages of supplier selection for a company 1. Supplier evaluation
2. Supplier development
3. Negotiations
4. Contracting
, The University of Alabama, OM 300, Final
Exam Questions With Complete Solutions
1. Supplier selection: Evaluation - Finding potential suppliers and determining the
likelihood of becoming good suppliers
-Strict evaluations of all types of things (ie; financial strength, management, quality, etc...)
- May require internal or external certification! (3 step process) once certified they are treated
with priority
2. Supplier selection: Development - Ensuring the supplier has the right equipment to
produce quality items and can deliver on time
- Includes training, engineering and production help
-Competitive bidding (suppliers bid against each other)
4. Supplier selection: Contracting - Shares the risks and benefits
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