Strategic Sourcing . -The development and management of supplier relationships to acquire goods and services in a way that aids in achieving the immediate needs of the business.
What term refers to the way some companies focus on what they do best and outsource other functions to key partners?
What is the term used for a company moving management of the complete cycle of material flow to an outside provider? Logistics outsourcing. What term refers to the way some companies focus on what they do best and outsource other functions to key partners? Capability sourcing .
Which supply chain efficiency measure is more appropriate when the majority of inventory is held in distribution channels?
Which supply chain efficiency measure is more appropriate when the majority of inventory is held in distribution channels? When distribution inventory is dominant in the supply chain, weeks of supply is the preferred measure.
What term refers to the management functions that support the complete cycle of material flow multiple choice question?
Logistics involves which of the following management functions? ... What term refers to the management functions that support the complete cycle of material flow? Logistics. Green sourcing is not only for developing new technologies, but also for. increasing the use of recyclable materials.
What are the keys to supplier relationship management?
Supplier relationship management comprises of three important steps: supplier segmentation, supplier strategy development, and supplier strategy execution . Supplier segmentation: Differentiate suppliers to identify opportunities and risks.
What are examples of outsourcing?
Some common outsourcing activities include: human resource management, facilities management, supply chain management, accounting, customer support and service, marketing, computer aided design, research, design, content writing, engineering, diagnostic services, and legal documentation.”
What is an example of business process outsourcing?
Business process outsourcing (BPO) is the practice of contracting a specific work process or processes to an external service provider. The services can include payroll, accounting, telemarketing, data recording, social media marketing, customer support , and more.
What are the five measures of supply chain performance?
The SCOR model defines a supply chain as being composed of five main integrated processes: Plan, Source, Make, Deliver and Return . Performance of most processes is measured from 5 perspectives: Reliability, Responsiveness, Flexibility, Cost and Asset.
What are the two measures of supply chain performance?
#]: qualitative measures (such as customer satisfaction and product quality) and quantitative measures (such as order-to-delivery lead time, supply chain response time , flexibility, resource utilization, delivery performance, etc.). In our study we consider only the quantitative performance measures.
How do you measure distribution efficiency?
- Inventory turnover rate. ...
- Order accuracy rate. ...
- Time to ship. ...
- Total units in storage. ...
- Total number of orders. ...
- Percentage of on-time shipments. ...
- Average warehouse capacity used. ...
- Percentage of sales lost to out-of-stock products.
What are the most important activities of supply chain management?
Supply management is made up of five areas: supply planning, production planning, inventory planning, capacity planning, and distribution planning .
What are the roles and activities of SCM in business?
- Selection and Management of Suppliers effectively for supporting manufacturing processes.
- Making Transportation and Distribution efficient for marketing campaigns.
- Communicating with Customers periodically and monitoring a flow of the products.
What are the key supply chain processes?
The Global Supply Chain Forum identified eight key processes that make up the core of supply chain management [5]: • Customer Relationship Management • Customer Service Management • Demand Management • Order Fulfillment • Manufacturing Flow Management • Procurement • Product Development and Commercialization • Returns.
What are the six supplier strategies?
- No. 1 – Focus First on Your People.
- No. 2 – Listen to Your Customers.
- No. 3 – Focus on Lead-time Reduction.
- No. 4 – Understand Your Vision and Have a Plan.
- No. 5 – Share Expertise with Customers.
- No. 6 – Market to OEM Customers How You Manage Risk.
What is the goal of supplier relationship management?
The main goal of SRM is to improve business processes between you and your suppliers . By creating a streamlined approach, you improve efficiency for both your business and your suppliers.
WHAT IS supplier relationship management and why does it matter?
Supplier relationship management (SRM) is the systematic approach to evaluating vendors that supply goods, materials and services to an organization , determining each supplier’s contribution to success and developing strategies to improve their performance.
