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Samenvatting - Supply Chain Management A Balanced Approach
Definition Supply Chain Management:Coordinating/integrating a number of goods- and services-related activities among supply chain participants to improve operating efficiencies, quality and customer service among the collaborating organization.
What are the activities regarding Supply?- Supplier management
- Strategic partnerships
- Ethics & sustainability
Definition Bullwhip EffectTrend of growing swings in inventory in response to changes in customer demand, as one looks at firms further back in the supply chain for a product.
What can be done against the Bullwhip Effect?Collaborative planning, forecasting & replenishment activities.
Definition Cost Leadership:Lowest cost of operation in industry.
Definition Differentiation:Distinguishing product/services from others.
Definition PurchasingKey business function that is responsible for acquisition of the required materials, services & equipment.
What is the core activity of purchasing & Supply Management?Managing supplier relation ships.
- Structuring purchasing processes internally.
- Structuring supplier relationships externally.
Where is Purchasing/Supply Management aimed at?-Securing supply
- Consistent quality
- Cost reduction
- Product innovation
- Efficiency improvement
Definition procurementSelecting vendors, establishing payment terms, strategic vetting, selection, negotiation of contracts and actual purchasing of goods.
How is purchasing related to procurement?Purchasing is a subset of procurement.
What are the criteria regarding centralized or decentralized purchasing?- Commonality of purchasing requirements
- Geographic supplier location
- Flexibility supply market structure
- Savings potential
- Local customer demands (product mix)
Definition profit leverage effectA decrease in purchasing expenditures directly increases profits before taxes.
Definition Return on Assets EffectFinancial ratio of a firm's net income in relation to its total assets.
--> High ROA: management is capable of generating large profits with little investments.
Definition Inventory TurnoverShows how many times a firm's net inventory is utilized and replaced over an accounting period.
==> Low inventory turnover --> poor sales, overstocking, obsolescence
What are the levels of control for supplier relationships?0: Contract
1: Competitive bidding
2: Service level agreements + vendor rating
3. Cost modeling
4: Value chain analysis/management
Definition supplier management:Array of actions taken to measure, manage and continually improve performance of the supply base.
What are the steps for supplier evaluation & selection?1. Recognize need for supplier selection.
2. Identify key purchasing requirements.
3. Determine appropriate sourcing strategy.
4. Identify potential supply sources.
5. Limit suppliers in selection pool.
6. Determine method of supplier evaluation.
7. Select supplier & reach agreement
What are the drivers for outsourcing?- Changes in business environment
- New management concepts
- Organizational restructuring
What are the steps in the outsourcing process?1. Competence analysis.
2. Assesment & approval
3. Contract negotiation
4. Project execution & transfer
5. Relationship management
6. Contract determination
Definition Strategic Sourcing:Managing the firm's external resources in ways that support the long-term goals of the firm.
Definition Ethical Sourcing:Attempts to take into account the public consequences or organizational buying or bring about positive social change through organizational buying behaviour.
What are activities while Ethical Sourcing?- Determine where all purchased goods come from and how they are made.
- Providing detailed ethical sourcing expectations to vendors.
Definition Sustainable sourcing:Process of purchasing goods & services that take into account the long-term impact on people, profits and the planet.
What are activities while Sustainable Sourcing?- Grow revenues by introducing new and differentiated sutainable products and services.
- Reduce costs by increasing resource efficiencies, avoiding use of noncompliant suppliers, rethinking transportation and distribution designs.
Definition VMI:Allowing suppliers to track inventories and determine delivery schedules and order quantities.
Benefits VMI:-More solid customer-vendor relationship
- Reduced shipping costs and lead time
- Fewer human errors
- Improved service levels
Definition Supplier co-Location:Supplier's employee is permanently housed in purchasing department of the buyer's organization, acting as both buyer and supplier representative.
What are the steps in Developing Ethical and Sustainable Sourcing Strategies?1. Establish corporate and sustainable sourcing policies.
2. Train purchasing staff; communicate policies to suppliers and customers.
3. Prioritize items based on ethical and sustainability opportunities and ease of implementation. Get started.
4. Develop a performance measurement system.
5. Monitor progress, make improvements, increase use of certified fair trade and green products and services.
6. Expand focus to include other departments and customers. Increase brand value.
How can you maintain a succesful strategic alliance program?1. Determine the key strategic parameters to organize around.
2. Facilitate the dissemination of information.
3. Elevate the importance of the strategic alliance program.
4. Provide continuous evaluation of alliance performance, visibility & support.
5. Reward suppliers as performance merits.
How to develop a Colaborative Negotiation Infrastructure?1. Build a preparation process.
2. Develop a negotiation database.
3. Design a negotiation launch process.
4. Institute a feedback mechanism.
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Voorbeelden van vragen in deze samenvatting
Definition Supply Chain Management:
What are the activities regarding Supply?
Definition Bullwhip Effect
What can be done against the Bullwhip Effect?