...Purchasing a Home Purchasing a home is a major decision that must be well-thought-out. When consumers are deciding to purchase a home there are many dynamics that must be taken into consideration. Available substitutes that should be considered, complements that are necessary for when you purchase a home, and the price which can be affected by necessity as well as factors that could cause changes in supply and demand. There are many substitutes, or alternative, available for consumers who are considering purchasing a new home. Before deciding to make the commitment involved with purchasing a home, consumers should consider renting instead. With a set monthly payment and a contract that entails a much smaller timeframe, this option is better for some. Condominiums and townhouses are also substitutes for purchasing a home. These can be available for both renting and purchase, and the cost is quite a bit lower for these options. Mobile homes can also be a substitute for purchasing a house. Consumers must carefully weigh the options to see which alternative is best for them. Complements are also something that must be considered when purchasing a home. These are items that are necessary to be purchased along with a home. Insurance is a major necessity that must be purchased along with a home. This is not usually an option, but actually a requirement included in most contracts for home purchases. When one chooses to purchase a mobile home a complement that must be purchased is...
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...Purchasing and Supply Management Key points and terms Chapter 1 Supply chain management: "The design and management of seamless, value-added processes across organizational boundaries to meet the real needs of the end customer. The development and integration of people and technological resources are critical to successful supply chain integration." (ISM definition, www.ism.ws) Purchasing, supply management, and procurement: are used interchangeably to refer to the integration of related functions to provide effective and efficient materials and services to the organization Supply management: the identification, acquisition, access, positioning and management of resources the organization needs or potentially needs in the attainment of its strategic objectives Lean purchasing or lean supply management: refers primarily to a manufacturing context and the implementation of just-in-time (JIT) tools and techniques to ensure every step in the supply process adds value, that inventories are kept at a minimum level, and that distances and delays between process steps are kept as short as possible. Logistics management: According to the Council of Supply Chain Management Professionals, "Logistics management is that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet...
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...Alex Garza Schreiner University MKTG 4323, Purchasing & Supply MGMT Dr. Mark D. Woodhull October 6, 2015 1. Cp= +/-.06= .12 / .1777 (6x .0229629) = .675 Cpk= 1-k * Cp = .66898 2. It is important to prove that a process is proven capable before developing statistical control limits because it would be a waste of money if they went through the whole process just to find out it wasn’t capable. It would also be a waste of time and there is no business that wants to waste both their time and money. 3. Integrated devices is being reactive because it was only after a call concerning a recurring manufacturing problem at Plant No.3 that Bill took action. They didn’t act proactively by conducting surveys or having a dedicated process engineer. They also weren’t checking up on the supplier and taking occasional samples so that they could make sure the supplier was continuing to deliver the promised quality, thus holding them accountable. If they had been proactive, this whole situation might have been prevented. 4. The purchasing staff should enter all negotiations with their supplier with clearly defined objectives and goals. They must aim to be successful in their negotiations with suppliers to obtain the best price, and to verify that quality specifications for every item purchases are met. By negotiating quality requirements directly into supplier contracts, the buyer will be able to hold the supplier accountable to the determined...
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...The fourteenth edition of Purchasing and Supply Management focuses on decision making throughout the supply chain. Based on the conviction that supply managers, in concert with suppliers and distributors, have to contribute to organizational goals and strategies, this edition continues to focus on how to make that mission a reality. Fourteenth Edition Highlights of the Fourteenth Edition: More than 40 real-life supply chain cases afford the opportunity to apply of the acquisition process. Criteria for supply decisions have been organized into three categories: (1) strategic, (2) operational, and (3) additional. In this third category, new factors such as balance sheet and income statement considerations, dimensions of risk, and environmental and social considerations are considered. Visit the text’s Online Learning Center at www.mhhe.com/Johnson14e Michiel R. Leenders, D.B.A., PMAC Fellow Professor of Purchasing Management Emeritus Richard Ivey School of Business The University of Western Ontario Anna E. Flynn, Ph.D., C.P.M. Formerly Clinical Associate Professor Supply Chain Management Thunderbird School of Global Management Formerly Associate Professor Institute for Supply Management TM Johnson Leenders Flynn Purchasing and Supply Management Johnson Leenders Flynn MD DALIM #1093963 06/05/10 BLUE GREEN P. Fraser Johnson, Ph.D. Leenders Purchasing Management Association of Canada Chair Associate Professor, Operations Management ...
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...Horvath INF 336 – Project Procurement Management Beverly Williams May 9, 2011 Purchasing and supply management holds a position of great importance to the business world. Within purchasing and supply management, there are the steps of the creation of project supply, service, and material budget from detailed requirements. It shows how to select the most qualified suppliers and strategies for negotiating prices. Along with this, there are also benefits and costs of outsourcing. This includes the growth of outsourcing. Various organizations will be evaluated on their benchmarks in purchasing and supply management, along with their best practices in this. There are specific companies out there that who show market leadership in purchasing and supply management. The term, “purchasing,” is often limited to what its actual definition is. It is limited to just buying and this refers to the location and selection of suppliers, learning of the need for whatever it is to be bought, price negotiation and any terms of agreement, and finally, the payment and delivery. In this particular case it is something much bigger this is not the definition that should be used for it. “Purchasing, supply management, and procurement are used interchangeably to refer to the integration of related functions to provide effective and efficient materials and services to the organization. Thus, purchasing or supply management is not only concerned with the standard steps in the procurement process:...
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...ARTICLE IN PRESS Journal of Purchasing & Supply Management 15 (2009) 187–197 Contents lists available at ScienceDirect Journal of Purchasing & Supply Management journal homepage: www.elsevier.com/locate/pursup Supplier involvement in new product development and innovation: Taking stock and looking to the future Thomas E. Johnsen à Purchasing & Supply Management, Audencia Nantes School of Management, 8 route de la Joneliere, BP 31222—44312 Nantes Cedex 3, France a r t i c l e in fo Article history: Received 18 November 2008 Received in revised form 19 March 2009 Accepted 25 March 2009 Keywords: Supplier involvement New product development Supplier relationships abstract This paper provides a comprehensive and critical review and synthesis of the current state of empirical research into supplier involvement in new product development (NPD). The paper begins by defining supplier involvement in NPD and evaluating the rationale for supplier involvement in NPD. This suggests that early and extensive supplier involvement in NPD projects has the potential to improve NPD effectiveness and efficiency, however, existing research remains fragmented and empirical findings to date show conflicting results. The paper takes stock of the research on supplier involvement in NPD, tracing the origins of the literature to the late 1980s, and evaluating the development of the field up to the present day. From this broad base of empirical research the analysis identifies a set of factors...
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...examines purchasing and supply chain management in an organization. Over the years, the role of purchasing and supply chain in an organization has continued to evolved, changed, and developed in response to changes witnessed in business environment. The increasing numbers or world-class competitors in local and international trades are a direct driver of increase in purchasing and supply chain roles and demands. Many management scholars have defined the notion and significance of supply chain management in detail across the globe. Many times, theoretical definitions of what purchasing and supply is are provided. But This term paper will firstly, suggest that purchasing and supply chain management is a developing field that constantly changed based on happenings in business environment. And secondly, suggest that individual firms’ purchasing and supply chain is base on such firms’ type of business, size, and mission. Evolution of supply chain management. Supply chain management involves the management of all activities in order to satisfy the ultimate consumer. It covers almost all business activities, including marketing, manufacturing (or service provision) purchasing, logistics and arguably is an all-inclusive concept that create a world-class culture and continue economic development. (Quayle, Michael 2006) In a nutshell, purchasing and supply chain management is a series of interwoven activities that cut across every departments of on organization. Purchasing and supply...
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...1 Chapter One Chapter Outline Purchasing and Supply Management Supply Management Terminology Supply and Logistics The Size of the Organization’s Spend and Financial Signifi cance Supply Contribution The Operational versus Strategic Contribution of Supply The Direct and Indirect Contribution of Supply The Nature of the Organization Supply Qualifications and Associations Challenges Ahead Supply Chain Management Measurement Risk Management Sustainability Growth and Infl uence Effective Contribution to Organizational Success The Organization of This Text Conclusion Questions for Review and Discussion References Cases 1–1 Qmont Mining 1–2 Erica Carson 1–3 Southeastern University Purchasing and Supply Management 2 Purchasing and Supply Management Key Questions for the Supply Decision Maker Should we • Rethink how supply can contribute more effectively to organizational goals and strategies? • Try to find out what the organization’s total spend with suppliers really is? • Indentify opportunities for meaningful involvement in major corporate activities? How can we • Align our supply strategy with the organization’s strategy? • Get others to recognize the profit-leverage effect of purchasing/supply management? • Show how supply can affect our firm’s competitive position? Every organization needs suppliers. No organization can exist without suppliers. Therefore, the organization’s approach to suppliers, its acquisition processes and policies, and its relationships with...
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...and suppliers nowadays. The sourcing model of global apparel brands within its ethical purchasing and supply chain management functions have been critically analysed to evaluate their effectiveness and value they add throughout their supply chain and in overall organisational operation. This report has emphasised on three key areas such as general sourcing model and its components in the context of global buyer’s perspective i.e. Transnational Corporations, a clear scenario about current ethical situation of Bangladesh’s apparel sector, and relevant supply chain theories and its implications related to ethical purchasing in apparel industries. At the end, a proper conclusion has been given by evaluating all the three sections critically based on the theoretical lens of purchasing and supply chain management. Table of Contents Executive Summary 1 Introduction 3 Section-1: General Discussion on Sourcing and its Components 4 Sourcing and its Role in Supply Chain 4 Sourcing Needs of the Companies and its Impact on Supply Chain 4 Steps of Making Sourcing Decisions by Transnational Corporations 5 Ethical Sourcing 6 Ethical Sourcing by TNCs in Apparel Sector 6 Importance of being Ethical in Sourcing 8 Section-2: Current Situation of Bangladeshi Apparel Sector and its Ethical Perspectives 9 Section-3: Supply Chain Theories and its Implications Related to Ethical Purchasing in Apparel Industries 11 Theory of Value Chain and Global Value Chain 11 Corporate...
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...pag.: 1 van 13 code: LEV-PORT-art-013-bl Purchasing must become Supply management Bron: Auteur(s): Harvard Business Review, september-oktober 1983 Peter Kraljic Purchasing Must Become Supply Management Peter Kraljic Harvard Business Review No. 83509 SEPTEMBER–OCTOBER 1983 HBR Peter Kraljic Purchasing Must Become Supply Management The stable way of business life many corporate purchasing departments enjoy has been increasingly imperiled. Threats of resource depletion and raw materials scarcity, political turbulence and government intervention in supply markets, intensified competition, and accelerating technological change have ended the days of no surprises. As dozens of companies have already learned, supply and demand patterns can be upset virtually overnight. How can a company guard against disastrous sup- ply interruptions and cope with the changing economics and new opportunities brought on by new technologies? What capabilities will a profitable international business need to sustain itself in the face of strong protectionist pressures? Almost every kind of manufacturer will have to answer these questions. Some companies have already responded to the growing pressures. For example: o Finding that purchasing outlays had increased in less than one year from 40% to 70% of the cost of goods sold, one European office-equipment manufacturer began to rely more heavily on American and Japanese suppliers, revise its materials planning system...
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... With the development of business, we can easily find that the role of purchasing and supply management has become increasingly important. Over the past years, as a discipline, purchasing and supply management has largely changed many companies. The significance of supply chain management is mainly due to the large cost on supply chain. ()On average, fully 70% of a firm’s sales revenues are spent on supply chain-related activities from material purchases to the distribution and service of finished products on the final customer. Other than that, there are several factors resulting in the evolution of supply chain management. First of all, in order to gain more market share, it is vital for companies, especially for multinational companies, to focus on building stable and effective supply chain as each segment of supply chain are likely to influence the products or service of companies. Moreover, the development of communications and transportation technologies, such as mobile communication and Internet, have forced the evolution of supply chain management. The purpose of this essay is to explore the influence of supply chain management on companies. Also, both sustainability and risk management are crucial in supply chain management, Objectives Through journals, monographs and related theories and articles on the website of the search, organize and summarize, discussed the importance of the supply chain in the contemporary business. In addition, based on the case of Adidas...
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...Vehicle Information: 2008 VOLVO S40 2.4I VIN: YV1MS382582374634 SEDAN 4 DR 2.4L L5 PFI DOHC 20V FRONT WHEEL DRIVE Standard Equipment | Safety Options Very minor damage reported 3 Previous owners 9 Service records available Types of owners: Commercial, Personal 86,944 Last reported odometer reading $70 Below retail book value This CARFAX Vehicle History Report is based only on information supplied to CARFAX and available as of 10/1/13 at 1:21:51 PM (EDT). Other information about this vehicle, including problems, may not have been reported to CARFAX. Use this report as one important tool, along with a vehicle inspection and test drive, to make a better decision about your next used car. Price Calculator™ Adjust the value of this 2008 Volvo S40 2.4I based on the information available in this report 1) Retail Book Value 2) CARFAX Price Adjustment™ 3) Adjusted Retail Value Begin by entering the retail book value $ 0 - $70 Below retail book value Enter retail book value here Ownership History The number of owners is estimated Year purchased Type of owner Estimated length of ownership Owned in the following states/provinces Owner 1 2007 Commercial 2 yrs. 9 mo. Texas Owner 2 2010 Personal 1 yr. 11 mo. Texas Owner 3 2012 Personal 1 year Texas Owned in the following states/provinces Estimated miles driven per year Last reported odometer reading 23,597/yr 65,247 7,650/yr 83,534 --86,944 Title History CARFAX guarantees the information in...
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...evaluation of the advantages, potential disadvantages, and managerial considerations of purchasing outside stores services. Advantages of purchasing outside stores services: * A purchase price saving of approximately 6 percent can be realized on approximately 90 percent of the items purchased. Assuming that this 90 percent includes a proportionate number of high-value items, minimum purchase savings should approximate $48,000 to $50,000 per year ($900,000 x .90 x .06 = $48,600). * If the stores operation is discontinued, personnel and facilities operating costs can be reduced approximately $200,000 per year. (This assumes that the four individuals can be absorbed on an attrition basis elsewhere in the organization, and that the freed-up space can be used for other productive purposes.) * If Futronics is able to enter into a systems contracting type of agreement for three years with one of the supply houses, the incremental supply ordering costs in purchasing will decline markedly. This is a very significant operating efficiency which will free a buyer up to engage in additional analytical purchasing work. * Discontinuance of the stores operation will virtually eliminate the time requirements for supervision of the operation. Similar to item number 4 above , this additional time can be used by purchasing personnel to do a more productive and professional job of purchasing. * Futronics now has 42 operating sites. As the organization continues to grow...
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...Chapter 8 : Creating Brand Equity Resumed by : Kelvin Karnadi 201560115 Sharen Veronica 201560176 Analyzing Business Markets Organizational buying is the decision-making process by which formal organiztions establish the need to purchase products and services, then identify, evaluate, and choose among alternative brands and suppliers. The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others. Buying situations * straight re-buy : A purchasing situation where the buyer reorders the same products without researching or considering other suppliers * modified re-buy : A purchasing situation where the buyer's revisions to the order require additional analysis or research * new buy : A purchasing situation requiring the purchase of a product for the very first time. Participants in the business buying process The major participants in business buying process are * Initiators-are the ones who initiate or recognize the need of a particular product requirement in the organization for enhancement or to combat depravation. * Users-are the ones who are going to use the product or require it for the smooth functioning of their operations. * Influencers --Influencers can be of different levels and the decisions that they influence might differ from person to person or post to post. These are basically the people who will influence the decision of...
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...XLRI Jamshedpur J. Singh The PGP Company The PGP Company was a large concern making many types of consumer products. It had six plants spread around the country. Their purchasing procedures had never been completely coordinated. In fact, the head office of the company had encouraged each of the plant managers to operate with their staffs as separate independent units in most matters. In 2005, when it began to appear that the company would face increasing difficulty in securing essential raw materials, Mr. Seth, the CEO, recruited an experienced purchasing executive, Mr. Ghosh, as VP in charge of purchasing—a position especially created for him. Mr. Seth gave Mr. Ghosh wide latitude in organizing his job, and assigned Mr. Murthy (who had served the company in various capacities for many years, and knew most of the plant executives personally) as his assistant. Mr. Ghosh’s appointment was announced through the formal channels usual in the company, including the house magazine. One of Mr. Ghosh’s first decisions was to begin immediately to centralize the company’s purchasing procedure. As a first step he decided that he would require each of the executives who handled purchasing in the individual plants to clear with the head office all purchase contracts which they made in excess of Rs. 1 lakh. He felt that if the head office was to do any coordinating in a way that was helpful to each plant and the company...
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