explain the difference in purchasing, procurement and strategic sourcing with examples?
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Subject: Procurement & sourcing
Q): explain the difference in purchasing, procurement and strategic sourcing with examples?
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- Topic: Purchasing Strategy Details: Answer the following question. Q1: How do you think that a procurement strategy can be directly linked to the organization’s strategy and long-term business plan?Mercosur Introduction, Objectives of RTA, Describe about RTAs, Area of Operations, Key Issues faced by RTAsAudi Company's Strategic Approach 1. Analyze the company’s strategic approach and why it works for them 2. Low Cost 3. Differentiation 4. Focused Low Cost 5. Focused Differentiation 6. Explain how they differentiate themselves from their competition 7. Describe their competitive advantage and whether or not it is sustainable 8. Explain how their mission and vison statement support their strategic approach. Use APA formatting guidelines. For this assignment, use no more than 1500 words, excluding titles, footnotes, charts, tables and annexes. Be sure to have at least 5 peer-reviewed sources for your major points.
- Please answer this question: 1. Traveling requisition used for one time capital purchases. A. False B. True 2. Invitation for bid is used to buy when: A. The specifications are designed for one supplier. B. The buyer has wants a competition on the best offer, C. There is complete monopoly. D. The buyer prefers a specific supplier. 3. Spend analysis is the process of determining how much to pay for service A. False B. TrueDetails: Topic: Purchasing Strategy Detail: Spartan Heat Exchangers Inc. On June 10, Rick Coyne, materials manager at Spartan Heat Exchangers Inc. (Spartan), in Springfield, Missouri, received a call from Max Brisco, vice president of manufacturing: “What can the materials department do to facilitate Spartan’s new business strategy? I’ll need your plan next week.” Spartan Heat Exchangers Spartan was a leading designer and manufacturer of specialized industrial heat transfer equipment. Its customers operated in a number of industries, such as steel, aluminum smelting, hydro electricity generation, pulp and paper, refining, and petrochemical. The company’s primary products included transformer coolers, motor and generator coolers, hydro generator coolers, aircooled heat exchangers, and transformer oil coolers. Spartan’s combination of fin-tube and timeproven heat exchanger designs had gained wide recognition both in North America and internationally. Sales revenues were $25…Q.4 Assuming you have been employed as a procurement and logistics manager of a company like Riham Group, prepare a working paper indicating how you will ensure effective logistics and supply operations of the company within first 100 days of your work. Prepare a three (3) paged presentation showing how involving key stakeholders will be of critical importance in the execution of the work mentioned in part (b) above.
- a) Explain how to develop procurement strategy matrix, b) Further develop the procurement strategy matrix with an example of university launching new campus?Principles of Procurement and Logistics Management Q.4 Prepare a three (3) paged presentation showing how involving key stakeholders will be of critical importance in the execution of the work mentioned in part (a) above.Topic: Internal Versus External Evaluation 1. What evaluation analysis results would cause you to look for new vendors?
- HB Corporation in Delaware, U.S., makes and sells a single product. The company operates a standard costing system and a just-in-time purchasing and production system. No inventory of raw materials or finished goods is held. Details of the budget and actual data for the previous period are given below: Budget data Standard production costs per unit (currency in U.S. dollar, $): Direct material 8kg @$10.80 per kg 86.40 Direct labor 1.25 hours @$18.00 per hour 22.50 Variable overheads 1.25 hours @$6.00 per direct labor hour 7.50 Standard selling price: $180 per unit Budgeted fixed production overheads: $170 000 Budgeted production and sales: 10 000 units Actual data Direct material: 74 000kg @$11.20 per kg Direct labor: 10,800 hours @$19.00 per hour Variable overheads: $70,000 Actual selling price: $184 per unit Actual fixed production overheads: $168 000 Actual production and…How to Managing the Supply Chain to Achieve Schedule, Cost, and Quality Goals.You are playing the role of the divisional manager of the new e-bike division of Fox Factory Holding Corporation. The divisional manager is preparing to request funding to introduce the product and begin sales. Three options have been identified (note that these are fictitious assumptions): • Produce the new e-bike internally, • Outsource manufacturing to another manufacturer, and • License the design to an existing company for royalties on future sales. Summarize the company's financial performance, referencing key data points from the Balance Sheet and the Income Statement available in the Quarterly Results Links to an external site. Identify the highlights and areas of concern.