MNP3701 Assignment 1 Semester 1 2023{211581}

supply management - -purchasing=contracting=procurement=sourcing=strategic sourcing= ___________ -clerical, tactical - -in the early 20th century, purchasing was ______ and ______, focused on policies and procedures, availability of supply, and cost management -strategic, global, sustainability - -in the early 21st century, procurement now focuses on _______ orientation, _______ supply chains, executive level leadership, _______, security, risk management, availability of supply, and cost management -profit-leverage effect, return on assets effect, inventory turnover effect - -what are the financial strategic opportunities for enterprise contribution by the supply function -profit leverage effect - -a decrease in purchasing expenditures directly increases profits before taxes (assuming no decrease in quality or purchasing total cost) -return on assets - -a high _____ _____ _____ indicates managerial prowess in generating profits with lower spending (these ratios vary from one industry to the other) -inventory turnover effect - -if this is increased, indicates optimal utilization of space and inventory levels, increased sales, avoidance of inventory obsolescence and reduced carrying expenses -outsourcing - -corporate supply management trend: increased _______ places great reliance on suppliers to respond to end-customer needs -design and build - -corporate supply management trend: greater dependence on suppliers for "_____ ___ ____" responsibilities to provide complete sub-assemblies, sub-systems and component parts -single - -corporate supply management trend: trend to ______ sourcing with fewer key suppliers and robust strategic supplier alliances and relationships -ERP - -corporate supply management trend: evolving ______ systems -cloud - -corporate supply management trend: expanded use of ______ procurement technology provided by cloud service providers (CSPs) -TCO, revenue, strategic, satisfaction - -corporate supply management opportunities: Identify opportunities to reduce unit costs for products and services; reduce ____ Identify opportunities to increase _____ streams Work with key supplier to provide product and service innovations - create _____ supplier relationships Implement supply initiatives to improve end-customer ________ through order placement and delivery Improve internal efficiency and effectiveness of the supply process; reduce process costs Achieve enterprise sustainability objectives