L4m4 chapter 2 - Study guides, Class notes & Summaries

L4M4 - Chapter 2 How does the Pareto Principle differ to the ABC Analysis? - ANS Instead of the Pareto 80/20 split, the figure splits the suppliers into three categories. 'A', 'B', 'C'. They are categorized according to their levels of importance/spend to the buying organization. Figure 2.1 : 'A' suppliers represent 20% of the total spend (these suppliers are responsible for the highest level of spend, most important). 'B' suppliers are collectively responsible for a sm...

L4M4 - Chapter 2 Questions with Correct Answers 100% Pass A cross-functional team may have input from which departments? - Answer Finance Engineering Sales Logistics Operations Advantages & Disadvantages of electronic systems - Answer AD: Speeds up the process Access to more suppliers Exposure to increased amounts of information Fewer restrictions on working hours Easier to work globally Promotes environmentally friendly objectives such as paper free DIS: Less personal Communicat...