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
expand_more
expand_more
format_list_bulleted
Question
Chapter 2, Problem 11DQ
Summary Introduction
To explain: The reason why Just-In-Time (JIT) purchasing and production system reduces the requirement of some purchase documents.
The purchasing process:
The purchasing process encompasses all the activities as shown below:
- Identification of user requirements.
- Evaluation of the user needs effectively and efficiently.
- Identification suppliers who are capable to meet the demand.
- Development of agreement with those suppliers.
- Development of the ordering mechanism.
- Ensure that the payment process occurs promptly.
- Ascertaining that the needs are effectively met and
- Driving continuous improvement.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
What is a Detail Diagram.What is a IPO diagram
What is a Business Requirements Documents?
What are the reasons why product cost information, a task order cost system, and a process cost system are required?
Chapter 2 Solutions
Purchasing and Supply Chain Management
Knowledge Booster
Similar questions
- University of science and technology needs to purchase 10 computers for the lab, to be used by students. You as a procurement offer, with practical examples, explain the steps or stages you need to follow to acquire those computers?arrow_forwardAn online toy store follows five steps to prepare customers' orders for delivery. Specify the part of the standing plan that the statement represents.arrow_forwardSupply Chain: AppleWrite answers to the questions listed below. Your answers should use professional business language, grammar, spelling and appropriate paragraph and sentence structure, etc. Your response is limited to one page per question except for Question #1, which can (should) be two typed pages (one for each part of Q1 â but you can submit multiple appendices to support your positions. (You will see that Question #1 has two parts).Start each new question on a new page and include the Question Number at the top of the page.Additional Instructions:You may need to do a bit of online research–Google or other search engines will help along with company annual reports, company 10 Kâs, Hoover.com, etc. Links to sites are included further down in this instruction sheet. Citing details will be a big plus in this assignment.With limited answer requirements, do not simply quote sources or references. Instead, try to identify 1-2 common themes or…arrow_forward
- What advantage does an Earned Value Management System have over more traditional cost‐control and schedule‐control systems?arrow_forwardPlease anwser one of the following. Undergraduate courses: 350 – 500 words or 1 – 2 pages. All work must be free of any form of plagiarism. Put written answers into your own words. Do not simply cut and paste your answers from the Internet and do not copy your answers from the textbook. Be sure to refer to the course syllabus for more details on plagiarism and proper citation styles.1. J.B. Corporation is considering the purchase of equipment that has an invoice price of $450,000. The equipment was recommended by a consulting rm that did an analysis for J.B. Corporation. J.B. paid the consulting rm $12,000 for its report. The cost of shipping and installation is $50,000. The equipment will be depreciated on a straight-line basis over its useful life of 10 years, assuming no salvage value. The equipment will replace existing assets that have a current book value of $100,000 and which could be sold for $150,000. Additional net working capital of $15,000 will be required to…arrow_forwardE-procurement tools through the Ariba Buyer system play a big role in the process. For example, users who need a PC can select one online and requisition it. Depending on the business rules governing authority threshold, the user may need a supervisor’s authorization and may need higher-level approval as well. If the spend goes into the capital range, there is another set of approval rules to ensure that people who oversee capital purchases also approve it. It also draws on the business rules from the IT group, which may be a different set of rules. Business rules are established within Ariba Buyer depending on the category of spend taking place. The types of controls made on purchases will vary. Once those approvals are completed, it releases out to the supplier. In Ariba, users have an online catalogue for contracts that are in place; several thousand office supplies are set up on the catalogue. Requisitioners can find what they want, and once submitted, the requisition is bounced…arrow_forward
- University of science and technology needs to purchase 10 computers for the lab, to be used by students. You as a procurement officer, discuss at least three procurement methods that you can use in this scenario?arrow_forwardNo 1: Iqra University plans to launch its new campus at Bahria Town Karachi. This campus will facilitate media science and business studies. For a complete setup, the procurement department will have to facilitate a number of purchases including equipment, lab facilities and general items. • Develop a procurement strategy for this new campus. You are required to prepare a matrix showing, the nature of purchases, types and requisitions required for the complete setup.arrow_forwardIqra University plans to launch its new campus at Bahria Town Karachi. This campus will facilitate media science and business studies. For a complete setup, the procurement department will have to facilitate several purchases including equipment, lab facilities and general items. Develop a procurement strategy for this new campus. You are required to prepare a matrix showing, the nature of purchases, types and requisitions required for the complete setuparrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning