A household appliances manufacturer needs a new parts supplier for itswashers and dryers. The manufacturer advertises for competitive bids, andfour potential suppliers submit their proposals. The manufacturer walksthrough each of the proposals and discovers two potential suppliers whooffers substantial discounts while a third supplier offers less of a discount butbetter support services. After considering all the proposals, the appliancesmanufacturer decides on a supplier and begins negotiating the terms of itscontract with the supplier. This entire procurement process is known as aO supplier selection processesO product specification processescompetitive bid processes

Procurement is a process of identifying, selecting, and accepting a vendor or supplier with certain…

Answered: A household appliances manufacturer…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Similar questions

Suggest the negotiation tactics that you will adopt when dealing with the supplier that does not have competition, or that has very limited competition.
Suppose you sign a contract with a supplier for $50,000 worth of tablet computers. You tell the supplier that you are only authorized to sign contracts for $40,000 without approval from the supply manager of your company, but the supplier agrees anyway. A few days later, because of budget cutbacks you find out that you only need $30,000 worth of tablet computers. How many dollars of tablet computers are you legally bound to purchase from the supplier?
Discuss the benefits and drawbacks of electronic procurement.
When is the buyer required to pay their initial deposit? Select one of the following Within the first 5 business days after exchanging contracts At the time of exchanging contracts Before the exchange of contracts At the end of the cooling off period
Explain what characteristics are of a reputable supplier?
You have just started to work in the purchasing office of a major pharmaceutical firm. The purchasing manager has asked you to assist in writing an RFP for a major purchase. The manager gives you a sheet detailing the specifications for the RFP. While reading the specifications, you realize that they have been written to be extremely favorable to one bidder. How should you handle this situation?
Explain the concept of IT procurement and vendor management. What are the best practices for selecting and managing IT vendors to ensure successful resource acquisition?
Procurement- Which of the following is not a risk of taking legal action against a supplier? A. Loss of supplier B. Embarrassing C. Time-consuming D. Expensive
What enables good contracting and negotiations?
You are a Supply Chain Procurement Manager working for a large manufacturing company located in North America. Recently, you have found out that one of your suppliers is in contravention of your company’s standards of engagement because they are employing persons aged 14 to 16 years of age. Whilst you would prefer to end the business relationship with this supplier immediately, you have to weigh up the ethical issues with the commercial considerations including; the low cost of the supplies and the history of reliability of delivery from this supplier. Required: Based on your knowledge of corporate social responsibility, as well as supply chain logistics, what is the best course of action in this situation? Discuss.
The term of sale contract signed between company A (buyer) and its supplier is FOB origin. Company A buys a product from its supplier and it is shipped by USPS. Who is the owner of the product, when it is in USPS storage and will be soon on the way to be delivered to company A? Group of answer choices Company A The supplier USPS Both company A and the supplier Both supplier and USPS
A firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager’s permission to reduce price below a specific threshold. This solution would only work if a) The marketing manager has no information about the matter at hand b) The marketing manager can only get all the information on the case from the sales agent c) Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction d) All of the above Please clearly explain your answer

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