Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
6th Edition
ISBN: 9781285869681
Author: Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher: Cengage Learning
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Chapter 1, Problem 1DQ
Summary Introduction

To determine: Why top managers are recognizing the importance of purchasing and supply management.

Introduction: Supply management is the process of managing the suppliers and raw materials or resources that are essential for the organization’s operations.

Expert Solution & Answer
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Explanation of Solution

Top managers are recognizing the importance of purchasing and supply management due to the following reasons:

  • Purchasing and supply management would increase the value and savings.
  • It reduces the time incurred to reach the market.
  • It would improve the reputation of the firm and the quality of the product.
  • Purchasing and supply management helps to build relationships outside the firm.
  • It helps to improve its competitive advantage.
  • Purchasing and supply management would generate an impact on the economic status of the firm.
  • It drives innovation.

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Students have asked these similar questions
Gas sales across type: 80% of gas sales tend to be regular. 15% midgrade, 5% tend to be premium. $0.10 increase in price per gallon tends to decrease gallons sold by 1 to 3%. Jan-0.87, Feb-0.95, Mar-1.00, Apr-1.05, May-1.08, Jun1.15, Jul-1.13, Aug-1.07, Sep-1.02, Oct-0.94, Nov-0.89, Dec-0.85. You want the MAPE to be below 20%, if ypu can get it to or below 10% they'll throw in extra $10k. Wont get bonus if it is above 11% or 20%. It cannot be over 20%.
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Negotiators can gain several benefits from using the strategy of multiple equivalent simultaneous offers. By offering multiple options it reduces the chance of rejection. It also improves the chances of reaching reaching an agreement. By presenting multiple offers, it shows you are flexible.  agree with the post
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