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 9, Problem 3DQ
Summary Introduction
To discuss: Why it is important to have a smaller supply base before committing to a supplier management and development program.
Introduction: Supply management is the process of managing the suppliers and raw materials or resources that are essential for the organization’s operations.
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Students have asked these similar questions
Your company is considering a strategic change in its supplier relationships. Currently, you have been working with the same group of suppliers for several years, but due to changing market conditions and the need for cost savings, you are exploring the possibility of switching to new suppliers.
Question
How do you identify and evaluate potential new suppliers to ensure they align with your company's strategic goals and quality standards?
Please explain the four steps of a company's decision in choosing a supplier:
1. cost
2. reliability
3. quality
4. service
Who should be accountable for supplier relationship management? Is it better handled by procurement or the department who are dependent on the supply of goods/services? Why?
Chapter 9 Solutions
Purchasing and Supply Chain Management
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Similar questions
- How should the business be developed in the future? Be specific and consider changes related to your supplier, the monogramming subcontractor, target customers, and products.arrow_forwardImagine you have been employed as a quality assurance manager in a 100 bedded hospital. What steps would you initiate to build better supplier relationship?arrow_forwardUsing a company of your choice, explain clearly why this company should evaluate supplier performance and the respective tools that can be used in this exercise.arrow_forward
- Your company is considering a strategic change in its supplier relationships. Currently, you have been working with the same group of suppliers for several years, but due to changing market conditions and the need for cost savings, you are exploring the possibility of switching to new suppliers. Question What are the key factors to consider when deciding to change suppliers strategically in the purchasing process? How do you identify and evaluate potential new suppliers to ensure they align with your company's strategic goals and quality standards? What steps should be taken to effectively manage the transition from old to new suppliers ones?arrow_forwardMany companies are now using the World Wide Web to share performance information with suppliers, thereby allowing suppliers to compare their performance to other suppliers’ within the buying company’s supply base. Discuss the benefits of this strategy to both buyers and suppliers.arrow_forwardAs a supplier, which factors about a buyer (your potential customer) would you consider to be important in setting up a long-term relationship?arrow_forward
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