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SCMN 3730 EXAM 1 || WITH QUESTIONS AND CORRECT ANSWERS || LATEST UPDATE 2024/2025
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SCMN 3730 EXAM 1 || WITH QUESTIONS AND CORRECT ANSWERS || LATEST UPDATE 2024/2025
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SCMN 3730 EXAM 1 || WITH QUESTIONSAND CORRECT ANSWERS || LATEST
UPDATE 2024/2025
In Michael Porter's Value Chain, what are the 5 primary activities? - CORRECT
ANSWER ; Inbound Logistics, Operations, Outbound Logistics, Marketing and
Sales, Service
In Michael Porter's Value Chain, what are the 4 support activities? - CORRECT
ANSWER ; Firm infrastructure, Human Resource Management, Technology
Development, Procurement
What is the strategic orientation steps for procurement for a business? -
CORRECT ANSWER ; Business Strategy Cycle, Strategic Procurement Cycle,
Procurement sub-process
Why is Procurement Important? - CORRECT ANSWER ; You want to decrease
cost to increase profit.
What are the three factors of Lead Times? - CORRECT ANSWER ; Stabilize,
Reduce, Ensure
What are the organizational imports for a focal organization? - CORRECT
ANSWER ; Innovation, Risk, Quality, Environmental Impact
Advantages of using value advantage - CORRECT ANSWER ; quicker response,
improved quality, increased reliability, improved relationships, manage and
mitigate risks, source innovation
,Advantages of using cost advantage - CORRECT ANSWER ; efficiency
gains/utilization, reduce purchasing costs, reduce in inventory levels, sharing
capital investment, reduced wasted
Decentralized - CORRECT ANSWER ; Decentralized procurement organization
with no corporate role
advantages of decentralized procurement - CORRECT ANSWER ; divisional
control, "flat" organization structure-clear accountability, Optimal local supply
base and service
disadvantages of decentralized procurement - CORRECT ANSWER ; no
corporate leverage, no sharing of best practices/approaches, no company wide
measurements and tracking
coordinated procurement - CORRECT ANSWER ; Decentralized sourcing, but
center led strategy, voluntary commodity strategy collaboration across BU
Hybrid procurement - CORRECT ANSWER ; Decentralized transactions, but
center led strategy and sourcing control
Centralized procurement - CORRECT ANSWER ; central procurement
organization for all commodities with a single upward reporting structure
Advantages of centralized procurement - CORRECT ANSWER ; Maximize
corporate leverage, Streamline purchasing organization, Create corporate
purchasing expertise
, Disadvantages of centralized purchasing - CORRECT ANSWER ; Purchasing
remote from operations, Lowered local responsiveness, Less divisional control
Make - CORRECT ANSWER ; The organization produces the goods or provides
the services internally
Buy - CORRECT ANSWER ; The organization procures the goods or services
from a supplier
Insource - CORRECT ANSWER ; Transition from buy to make
Outsource - CORRECT ANSWER ; Transition from make to buy
Offshore Insourcing - CORRECT ANSWER ; Processes are done at an offshore
subsidiary of the firm
Offshore Outsourcing - CORRECT ANSWER ; Processes are sourced from an
offshore vendor
Domestic Insourcing - CORRECT ANSWER ; Processes are done in-house in the
home country
Domestic Outsourcing - CORRECT ANSWER ; Processes are sourced from a
domestic supplier in the home country
Transaction Cost Economics - CORRECT ANSWER ; The cost of producing
something should be weighed against the cost of acquiring it in a market
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