Scmn 2150 test 2 Study guides, Class notes & Summaries

SCMN 2150 Test 2 Auburn University (Quizzes & Ans) Latest!!

SCMN 2150 Test 2 Auburn University with complete solution ( Latest updated )

supply management : The identification, acquisition, access, positioning, management of resources and related capabilities the organization needs or potentially needs in the attainment of its strategic objectives strategic sourcing : an institutional procurement process that continuously improves and reevaluates the purchasing activities of a company procurement : the purchase of merchandise or services at the optimum possible total cost in the correct amount and quality At the righ...

What is procurement? - Answer-process of actually purchasing goods and services How does procurement differ from strategic sourcing? - Answer-Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? - Answer-obtain (goods or a service) from an outside or foreign ...

What is procurement? : process of actually purchasing goods and services How does procurement differ from strategic sourcing? : Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? : obtain (goods or a service) from an outside or foreign supplier, espec...

SCMN 2150 test 2 EXAM REVIEW SOLUTION Qs AND As What's the financial goal of procurement? - ANS-lowest total cost of ownership Companies devote limited time and effort to procurement and strategic sourcing because they can no longer provide a competitive advantage. - ANS-false What is the sequence of the five-step procurement process - ANS-1. identify need for material 2. evaluate supplier options 3. select best suppliers 4. release orders and receive products 5. measure and manage...

What is procurement? - correct answer process of actually purchasing goods and services How does procurement differ from strategic sourcing? - correct answer Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? - correct answer obtain (goods or a service) fr...

What is procurement? : process of actually purchasing goods and services How does procurement differ from strategic sourcing? : Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? : obtain (goods or a service) from an outside or foreign supplier, espec...

SCMN 2150 Test 2 Exam Questions With Verified Answers The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. - answerWhat is a procurement? Institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company - answerWhat is strategic sourcing? strategic sourcing plays a more intense role in evaluating the the best possible price based on other aspects that affect selling the product vs ...

SCMN-2150 Test 2 Questions And Revised Correct Answers What is a procurement? - ANSWER : Purchase of merchandise/services at the optimum total cost, correct quantity, time and quality (day to day purchasing function) What is strategic sourcing? - ANSWER : 1) what to buy and from where (focus on improving) 2) The institutional process that continuously re-evaluates and improves the purchasing activities of a company. Differences between traditional purchasing and strategic sourc...