The purchasing department is responsible for procuring raw materials and other resources at the best possible price. In relation to the above, and with the aid of examples, discuss the functions of the purchasing management.
Q: Subject: Channel management Q:) What is the difference between Daraz & foodpanda apps? Q:) What…
A: Daraz is an online marketplace which was started back in 2012. The marketplace has an active…
Q: The pros and cons of job structure and design when implementing a new plan for a company.
A: A company can be competitive in the industry or can achieve the competitive edge, when it's…
Q: 4. Draw up 15 interview questions that you would ask to determine staff members' reasons for…
A: Absenteeism is an unavoidable event in an organisation, therefore it is important to monitor the…
Q: COMPANY NAME: FINTEC GLOBAL BERHAD MALAYSIA REQUIREMENTS NEEDED FOR DETAILED INTRODUCTION 1. BRIEF…
A: Ans. Introduction Fintec Global Berhad was established in year 2007 under the name of Asia Bioenergy…
Q: O Social Security benefits OGI Bill of Rights O Volunteer military agreement O Second New Deal
A: Social benefits are the transfers that are done to help a person or family by reducing their…
Q: what are the long term consequences of firing employees
A: It is the duty of the manager to act as a bridge between the top management and employees and to…
Q: Is variable compensation based on the international location of expatriates logical or a wrong…
A: International assignments are lucrative but it has to be finely balanced by involving adequate…
Q: Instructions: Answer the questions comprehensively. You may cite examples to validate your…
A: Since you have asked multiple questions we will solve the first question for you if you want any…
Q: Determine whether it is Planning, Organizing, Leading, Controlling 1. Direct the employees by…
A: Management involves controlling and guiding various resources of the organization in a way that…
Q: Discuss how technological change creates entrepreneurial opportunities. What are some current…
A: Entrepreneurial endeavors are now more profitable and accessible than ever thanks to technology.…
Q: INCOTERMS, as the universally recognized international trade terms that define trade contract…
A: The inco terms also known as the international commercial terms refers to a series of pre defined…
Q: 1. In the case of Motorola, can you cite the advantages that has resulted from them doing the…
A: Bench mark is the continuous systematic process of the performance of the company and helps to…
Q: Discussing which of the three paradigms (Neoclassical, keynesian,and marxist) best reflects the…
A: INTRODUCTION: Economic theories like neoclassical, Keynesian, and Marxist theories all aim to…
Q: business? the four tests of strategy impon to apply tests before going
A: We will answer the first question since the exact one was not specified. Please submit a new…
Q: What is the improvement cycles tool in change management?
A: Organizations function in an environment that keeps on changing. Organizations need to adapt their…
Q: 3. Why doesn’t being smart easily translate into being rich? 4. How do entrepreneurial dimensions…
A: INTRODUCTION: It might be difficult to manage a new business, but there are several fundamental…
Q: Discuss 3 diversity and inclusion practices that can be used in the recruitment or selection process…
A: DIVERSITY RECRUITMENT: Diversity recruitment is a style of recruitment that accounts for the…
Q: means through which TMCs project leaders may achieve effective negotiation?
A: Negotiation is described as the style of discussing matters amongst persons in an effort to come to…
Q: Briefly discuss the different components that contribute to "Superior Efficiency". Give an example…
A: Efficiency:- Efficiency is the (often quantifiable) ability to execute something or achieve a…
Q: What is the difference between the content and process theories of motivation? a. The main…
A: Correct answer: c. Content theory attempts to explain specific things, which motivate people in…
Q: Your group and the recently hired CEO must get employees to quickly improve operational efficiency…
A: Customer is king and organizations need to find ways to maximize customer satisfaction. All efforts…
Q: short amswer Knowing how to communicate in general is an important skill that facilitates the…
A: Business Communication is the process in which various rules and policies of a organization must be…
Q: Provide an action plan in the situation. 15-20 sentences
A: Note: As per the guidelines, we do not provide personal opinion to any question. However, we will…
Q: ou just finished your one to one performance feedback discussion with your supervisor and came out…
A: Unfortunately, the performance evaluation process is here to stay. It's worth looking at employee…
Q: Distinguish between MIS and DSS. Who within the organisation is most likely to find each useful,and…
A: Decision support systems:- Senior managers can make unusual judgments with the help of a decision…
Q: Sorry I still don't understand - can you explain in simpler terms ? - Are we saying the most…
A: The organization's primary objective will be to have a proper flow of business process, and to…
Q: The core rationale for diversification and running businesses in different industries under a…
A: Diversification of businesses and industries comes up with various strategies to enter into new…
Q: Why would a company choose the SERVQUAL tool for change management? What are the advantages and…
A: A multi-dimensional research tool called SERVQUAL was created to record consumer views and…
Q: nt for both em
A: Onboarding plays a very crucial role in the organization due to its various advantages to both the…
Q: While working from home (WFH) during the movement control order (MCO), there is more pressure to…
A: The pandemic covid-19 has bought many changes the way the work is being done at the workplace. The…
Q: What are the types of employee training. Explain
A: Employee training is referred as providing the proper knowledge, skills and information to…
Q: What is a contract
A: Agreements refer to the act of agreeing to something. An agreement refers to a promise or set of…
Q: Use the SWOT analysis template below and give at least four internal and external factors that are…
A: SWOT analysis is a management technique that is used to assess a business organization based on four…
Q: John Storey wrote in 1995 that: ‘Human resource management is a distinctive approach to employment…
A: This definition is detailed and comprehensive. It claims that several approaches are used in human…
Q: What are the three major components of DSSs, and what do they do?
A: DSS is also known as a decision support system. It is an information system that helps an…
Q: Cultura, Económic, and polítical Recommendation between Canada and Mexico.
A: Canada and Mexico are the north American neighbours and friends the both countries have highly…
Q: Identify and explain 10 negative impacts of implementing a software-based Accounting Information…
A: INTRODUCTION: The term accounting information system’ (AIS) refers to the system incorporating…
Q: Software Management 1. Let's assume that you are a project manager and are assigned to develop a…
A: Software management in a project refers to the planning, resource allocation, scheduling and…
Q: concreateness in communication creates politive impact to the audience true or false
A: Concreateness:- Being specific, definite, and vivid in one's speech is referred to as concreteness…
Q: Self-regulation is an effort to _______________. Group of answer choices develop industry…
A: Introduction: Self-regulation, in the entirety of its heap changes, is a fundamental piece of the…
Q: Affirmative Action is the practice or policy of hiring individuals belonging to marginalized groups.…
A: Introduction:- Affirmative action, otherwise called "positive discrimination," is an administration…
Q: What are the reasons for the small numbers of female expatriates? What more can companies do to use…
A: Expatriation is the procedure by which employees, artists, & experts leave their nation to…
Q: Question: 1. Has Zoom user made the right decision? Yes/ No/ Why? 2. Using the correct…
A: INTRODUCTION: Personal conflicts at work are frequent problems that can occur anywhere. Even though…
Q: What are the cost and benefits of the process model of environmental analysis? How could an…
A: Ans 1=Environmental scanning systematically surveys and interprets pertinent data to identify…
Q: Write a brief executive summary about Smatrul tuya wifi including and opening paragraph and use of…
A: INTRODUCTION: The demand for smart home devices is rising as homeowners explore for methods to make…
Q: Can I Have Another Boss Please? Case Type: Main Subjects: Who's Who: Head Case Coaching,…
A: Women executives still make up a small portion of the business sector. Most of us don't find it odd…
Q: How consumers and firms make decisions under uncertainty
A: Decision-making is a process of selecting the best course of action from two or more alternatives.…
Q: 2a Briefly discuss the reasons why the employer-based insurance plans are almost always preferred…
A: Employer-based insurance plans are also referred as group insurance plans, and these plans are…
Q: How might the Meyers-Briggs Personality Theory knowing as the personality assessment helps you gain…
A: Personality:- Individual variances in common ways of thinking, feeling, and acting are referred to…
Q: Using the Situational Model of Leadership, explain what your approach to leadership will be in terms…
A: Because you will adopt different leadership style to their stage of growth, the situational…
The purchasing department is responsible
for procuring raw materials and other resources at the best possible
price. In relation to the above, and with the aid of examples, discuss the
functions of the purchasing management.
Step by step
Solved in 2 steps
- For the Stock Management process, describe the IT software that might be used by the Procurement Department (Purchasing) in order to determine which goods and what quantity of them are required by the shop. Explain the Business process and how the selected software can support it. What would be the advantages/disadvantages?Bamburi Cement is a cement manufacturing company that has been operating in Kenya for more than ten years. The supply chain of Bamburi includes the suppliers and customers. Effective management of the supply chain relationships is a critical factor in ensuring increased profits by Bamburi. Required; Explain two ways that adoption of a modern Enterprise resource planning software such as Microsoft Navision would enable Bamburi to improve the supply chain relationships with the suppliers and customers. (b) Explain two ways that a well-developed and designed Accounting system would add value for an organization such as Strathmore University.SLO-3.1 The major reason supply management can greatly improve a firm’s return on investment (ROI) is: A) the reduction of post ownership costsB) the reduction of downtime costsC) the reduction of quality costsD) the reduction of acquisition costE) every dollar saved in purchasing is = to a new dollar of profit NEWSLO-3.2 Which of the following is generally not true about supply management and the bottom line? A) Purchased items account for a large percentage of the cost of goods sold. Hence, a reduction in cost of purchased goods has a major impact on the bottom lineB) A Euro increase in sales is equivalent to a Euro decrease in materials cost in impacting the bottom lineC) Outsourcing allows firms to focus on their core competencies, which reduced potential for waste, which then can improve the bottom lineD) A dollar saved in materials cost is usually considered a dollar increase in profit, which directly translates into bottom line savingsE) Supply management can work…
- 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.Q1. Essentially, the planning of the purchasing and supply chain function entails managing the function for the future. Outline the purpose of the three levels of management within the context of the purchasing and supply chain function.1. With examples and necessary figures, define the Key Inventory Terms ? 2. Suppose, you are newly appointed as a Sales Manager in Unilever Company and after joining your first assignment is to do the sales forecast for the next quarter. Therefore, explain what would be your approach to do a good sales forecast for the next quarter.
- Royal Meat Processing Company buys and processes livestock for sale to supermarkets. In connection with the audit of the company’s financial statements, you have prepared the following notes based on your review of inventory procedures: 1. Each livestock buyer submits a daily report of his or her purchases to the plant superintendent. This report shows the dates of purchase and expected delivery, the vendor and the number, and weights and type of livestock purchased, as shipments are received, any available plant employee counts the number of each type received and places a check mark beside this quantity on the buyer’s report. 2. Vendors’ invoices, after a clerical review, we sent to the appropriate buyer for approval and returned to the accounting department. A disbursement voucher and a check for the approved amount the prepared in the accounting department. Checks are forwarded to the treasurer for signature. The treasurer’s office sends signed checks directly to the buyer for…1.Which of the following pertains to an efficient supply chain? A)It deals with innovative products B)The product life cycle will be short C)It is worthwhile to invest in good forecasting systems D)All of the above 2.Which of the following costs do not come under inventory carrying cost calculation? A)Investment in a software for updating stock position online B)Investment in stores space C)Salaries of procurement personnel D)Cost of maintaining the inventory stocks 3.Which of the following will have lesser bullwhip effect in a supply chain? A)Supply Chain co-ordination B)Opening more stocking points closer to the point of consumption C)Empowering the lower echelons of the inventory to take decisions on fulfilling the demand D)All of the abovePlease do on own , dont copy pls (that ans i find incorrect) As the owner of the Smoke+Taste meat shop, Kristine can purchase a pound of ribs for $15 early each morning at the local market. During the day, Kristine then sells these ribs to local restaurants for $80 each. Coupled with the perishable nature of her product, Kristine’s integrity as a top quality supplier requires her to dispose of all unsold ribs at the end of each day. The cost of disposal is $2 per pound. To maintain good customer relationship with customers, Kristine gives a $5 coupon for every pound of ribs she cannot supply. While her life would be a lot easier if Kristine could perfectly predict her daily demand, the best estimate for her daily demand is that it follows a Normal distribution with mean 100 and standard deviation 30. Kristine now purchases 120 pounds of ribs every morning. Given the current order quantity (120 pounds), what is the percentage of customers the Smoke+Taste Shop expects to satisfy in a…
- discuss the contributions a purchasingg department can make to the corporate strategic planing processPLEASE GIVE THE PLAN OF ACTION AND EVALUATION CONTRO. Office Depot has almost 1,000 office superstores and giant catalog of office supplies that it offers via mail order. Yet office Depot also enables its customers to shop on the internet. Its Web site offer virtually all the products Office Depot carries in its stores and catalogs and guarantees next-day delivery to most locations with no delivery charge on orders over 5K. online order tracking is available, and customized ordering, which takes into account the historical patterns of individual customers product purchases, is also a feature of Office Depot internet-based channel.Based on the above information, prepare a report for the head of the accounting department of RCIATOLimited to evaluate their revenue cycle. In your report, you need to include the following items:1. "Establishing separate departments for warehousing, shipping and inventory control willenhance internal controls over the inventory." Discuss this statement in the light of the existingrevenue cycle of RCIATO Limited.2. In the light of our discussion during interactive tutorials, describe potential internal controlweaknesses in the sales order processing procedures and cash receipts procedures of RCIATOLimited.3. In the light of our discussion during interactive tutorials, discuss the potential risks associatedwith the internal control weaknesses identified in Section (2) above.4. Based on Section (3) above, what types are frauds are possible. Hint: we have discussed differenttypes of frauds in the interactive tutorial and lectures. Your discussion should be based on these contents.