Conclude on what you understand from the given purchase cycle system above WEAKNESS OF THE SYSTEMRECOMMENDATIONSupplier-related issues – Finding a right supplier. Evaluation & monitoring supplier performanceVendor performance impact completion of regarding their quality guidelines & delivery timepurchase cycle on timeline provided.ensure smooth functioning of purchase cycle.Purchase from a licensed wholesaler - should be Before making a purchase order, there should be anensured that the wholesaler has a license to sell the analysis to ensure a safe purchasing cycle. Theproduct.company can identify first that the seller has alicense to sell the wine in the market.Lack of segregation of duties – as there is noTo prevent misuse of influence or error when doingsecond officer to doublecheck the orders, invoices the job, there should be a simple delegation of dutiesand reports made by the clerk.for the person in charge as should be performed by2 staff.No proper records of requirement; ignorance of A safety bracket is to be maintained, for exampleprocedure for ordering and storing on the stock part. wine bottles may not reach in time due to disputes,breakage and thus purchase manager should havestock to last till these issues are resolved.Lack of accurate data: Due to lack of accuracy in Purchase manager must make through evaluation ofthe data of the inventory purchase department may the stock and must maintain accurate data ofgive wrong orders that might create excess of inventory example check the amount and quality ofinventorygoods and its supporting documents to ensure thatthey are correct

Purchase cycle system: Purchase cycle system considers the purchase of raw materials…

Answered: Conclude on what you understand from…

Business

Operations Management

Conclude on what you understand from the given purchase cycle system above

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

ChapterC: Cases

Section: Chapter Questions

Problem 5.1SA

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SLO 8.2. If the buyer does not have a clear and unambiguous description or specification and wants to find out which supplier can deliver the best value when and where needed, he or she will typically issue a: Request for quotation (RFQ)Request for proposal (RFP)Request for information (RFI)Request for bid (RFB)Request for suggestions (RFS) SLO 9.1. Blanket purchase orders: Reduce costs by decreasing the number of purchase orders issuedCover multiple purchase requirements on one orderAre difficult to prepareReduce costs by decreasing the number of purchase orders issued and cover multiple purchase requirements on one orderReduce costs by decreasing the number of purchase orders issued, cover multiple purchase requirements on one order, and are difficult to prepare
Hershey's Bittersweet Halloween This incident is perhaps one of the most dramatic failure stories of ERP implementation failure. Founded in 1876, one of the largest North American chocolate manufacturers, Hershey's undertook a project to implement SAP R3 ERP software. However, nothing went according to plan. In the end, its new order-taking and distribution computer system which was a $112 million combination of software from ERP maker SAP, CRM provider Siebel and supply chain software from Manugistics, failed to deliver $100 million worth of Kisses and Jolly Ranchers for Halloween. It was told that the incident happened because of malfunctioning of the ERP system. As a result, the stock price declined 8 percent in a single day, profit dropped by 19 percent, and sales plunged by 12 percent, not to mention the credibility they lost in the market. Hershey's made another critical scheduling mistake – it timed its cutover during its busy season. It was unreasonable for Hershey's to…
Q-1. it patronage income is distributed back to the members on a non-qualified basis, who Initially pays the tax? Options: No tax is paid because it is distributed on a non-qualified basis No one initially but the farmers will pay the tax when they receive the cash The cooperative The members Q-2. In the early 2000s, the Farmland Industries bankruptcy caused a lot of financial stress for Kansas grain marketing and farm supply cooperatives. To deal with this stress, most co-ops wrote down unallocated equity values. Why did they take this action? Options: It was to the benefit of the member because non-members mostly paid for the losses incurred by the cooperative It was to the benefit of the member because unallocated equity is directly tied to the copperative Members actually voted for this decision because they wanted to lose their allocated equity Members would benefit because writing down unallocated equity actually caused them to own a smaller percentage of the cooperative and…
link of PDF : https://docdro.id/psUSO2n https://docdro.id/KV8USNQ question : 1/. According to Simpson and et.al, why should we measure the performance of our suppliers?
k of PDF : https://docdro.id/psUSO2n https://docdro.id/KV8USNQ question : 1/ According to Weele, the items that we measure determines the role of the purchasing function. List these roles, and show the mapping. 2/ According to Simpson and et.al, why should we measure the performance of our suppliers? 3/ According to Simpson and et. al, what are the characteristics of our suppliers should we measure? List these down in terms of evaluative criteria and its details.
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As mentioned in the chapter, some analysts predict barcodes maybe replaced by a wireless technology called radio-frequency identification (RFID). RFID is a system of installing tags containing tinycomputer chips on, say, supermarket items. These chips automatically radio the location of the item to a computer network whereinventory data is stored, letting store managers know not onlywhere the item is at all times but also when and where it was madeand its color and size. Proponents believe RFID cuts costs and simplifies inventory tracking and reordering. It may also allow marketersto respond quickly to shifts in demand, avoid under- and overstocking, and reduce spoilage by automatically removing outdated perishables from the shelves. Privacy advocates, however, think thechips provide too much product-preference information that mightbe identified with individual consumers. In the meantime, Walmartrequires its major suppliers to use the new technology on productsstocked by the giant…
Suppose that a large discount retailer with a lot of purchasing power in a supply chain requires that all suppliers incorporate a new information system that will reduce the cost of placing orders between the retailer and its suppliers as well as between the suppliers and their suppliers. Suppose also that order quantities and lead times are related; the smaller the order quantity the shorter the lead time from suppliers. Assume that all members of the supply chain use a continuous review system and EOQ order quantities. Explain the implications of the new information system for the supply chain in general and the inventory systems of the supply chain members in particular.
Company can increase performance by conform to the customer requirement. Do you agree? Why?
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