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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Question
Chapter 17, Problem 14DQ
Summary Introduction
To determine: The importance of having support from senior executive while executing indirect spend procurement strategy.
Introduction: Indirect spending is the cost incurred which does not contribute for product development.
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Chapter 17 Solutions
Purchasing and Supply Chain Management
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- When it comes to enforcing an indirect spend procurement programme, why is it so important to have senior management/executive support?arrow_forwardIdentify and describe the disadvantages of assigning the procurement responsibilities to each department of the organisation.arrow_forwardWhat is Value for Money (VfM) in the context of procurement? Discuss five (5) of the key steps you will take to ensure the achievement of VfM for procurement in your organization.arrow_forward
- How does a corruption scheme in procurement work? What are the goals of any procurement-related corruption strategy? What are the different strategies to prevent contact and procurement fraud by actively evaluating and estimating their risk exposure and their vulnerability to fraud?arrow_forwardExplain the benefits and potential challenges of using electronic procurement cards?arrow_forwardHow would you explain that whiles market forces are at work a procurement strategy is essential?arrow_forward
- How do you think that a procurement strategy can be directly linked to the organization’s strategy and long-term business plan? Long question explain it brieflyarrow_forwardDescribe the benefits and drawbacks of using e-commerce in the procurement process?arrow_forwardWhat are the strengths of Direct Procurement? Please give me 4 points and some elaborationarrow_forward
- In light of the foregoing facts, discuss the evolution of procurement strategy from a cost-driven to a revenue-driven approach.arrow_forwardUse any company as an example and discuss the importance of Procurement Management, considering the activities of procurement and the relationship of the procurement function with other department in that specific company.arrow_forward1)explain the challenges in carrying out procurement plan? 2) explain the consequences organizations will experience in failing to carry out effective procurement planning?arrow_forward
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