MGMT 460 Exam 2
Watson
1. Supply Integration: Professionally managing suppliers and developing close working relationships with
different internal groups
2. Theme of Supply Integration: Supply management must become integrated with other internal and external
functions to develop capabilities that will lead to improved competitive performance
3. Relationship Management Skills: • Act ethically
• Listen effectively
• Communicate
• Use creative problem-solving
• Drive relationship
4. How to Achieve Integration: • Process-focused organizations Co-location of suppliers and
customers
• Buyer or supplier councils
• Steering committee
5. External Integration: Supply management is face of organization to its supply base
Acts as liaison on multiple fronts
• Materials
• New technology
• Market information
• Services
Stakeholder approach
• Suppliers, government, and local communities
6. Collaboration: Process by which two or more parties adopt a high level of purposeful cooperation to
maintain trading relationship over time
The relationship is bilateral
7. Collaborative Buyer-Supplier Relationships: • One or limited number of sup- pliers for each purchased item
• Win-win approach to reward sharing
• Open exchange of info
8. Advantages of Closer Relations: -trust
-long-term contracts
9. Obstacles to Closer Relationships: - confidentiality
- limited interest by suppliers
- legal barriers
- resistance to change
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9
, MGMT 460 Exam 2
Watson
10.Effective SRM: • Resolve internal conflicts between stakeholders before trying to change or refocus externally
•Supply management should be key point of contact to make or deliver on supplier commitments
• Multiyear, long-term horizon
• Key performance indicators (KPIs)
11.Role of Cross-Functional Sourcing Teams: • Consist of various internal func- tional areas and, increasingly,
suppliers
12.Benefits of CFTs: • Enhanced communication
• Better identification and resolution of problems
• Increased innovation
• Reduced time to complete tasks
13.Potential Drawbacks of CFTs: • Use does not guarantee success
• Negative effects on individual members
• Poor team decisions
14.When to Form a CFT: • Facing a complex or large-scale business decision
• New product development
• Facility location analysis
• Strategic sourcing strategy One
Way/Two Way doors
15.Process of Goal Setting: • Describe team's task
• Assess team's ability to achieve certain outcomes
16.Subtle Management Control: Authorizing creation of sourcing team Selecting team's task(s)
Establishing broad objectives Selecting team
leadership
Requiring regular updates or at key milestones Conducting
performance reviews
17.Product Life Cycle: The stages through which goods and servic the time they are introduced
on the market until they are taken off the es move
from
18.White box design: the supplier is given blueprints and told to make the product from them market.
19.Gray box design: Supplier's engineers work cooperatively with buyer's engi- neers in joint design
20.Black box design: Suppliers are provided functional specifications and create design
2/
9
Watson
1. Supply Integration: Professionally managing suppliers and developing close working relationships with
different internal groups
2. Theme of Supply Integration: Supply management must become integrated with other internal and external
functions to develop capabilities that will lead to improved competitive performance
3. Relationship Management Skills: • Act ethically
• Listen effectively
• Communicate
• Use creative problem-solving
• Drive relationship
4. How to Achieve Integration: • Process-focused organizations Co-location of suppliers and
customers
• Buyer or supplier councils
• Steering committee
5. External Integration: Supply management is face of organization to its supply base
Acts as liaison on multiple fronts
• Materials
• New technology
• Market information
• Services
Stakeholder approach
• Suppliers, government, and local communities
6. Collaboration: Process by which two or more parties adopt a high level of purposeful cooperation to
maintain trading relationship over time
The relationship is bilateral
7. Collaborative Buyer-Supplier Relationships: • One or limited number of sup- pliers for each purchased item
• Win-win approach to reward sharing
• Open exchange of info
8. Advantages of Closer Relations: -trust
-long-term contracts
9. Obstacles to Closer Relationships: - confidentiality
- limited interest by suppliers
- legal barriers
- resistance to change
1/
9
, MGMT 460 Exam 2
Watson
10.Effective SRM: • Resolve internal conflicts between stakeholders before trying to change or refocus externally
•Supply management should be key point of contact to make or deliver on supplier commitments
• Multiyear, long-term horizon
• Key performance indicators (KPIs)
11.Role of Cross-Functional Sourcing Teams: • Consist of various internal func- tional areas and, increasingly,
suppliers
12.Benefits of CFTs: • Enhanced communication
• Better identification and resolution of problems
• Increased innovation
• Reduced time to complete tasks
13.Potential Drawbacks of CFTs: • Use does not guarantee success
• Negative effects on individual members
• Poor team decisions
14.When to Form a CFT: • Facing a complex or large-scale business decision
• New product development
• Facility location analysis
• Strategic sourcing strategy One
Way/Two Way doors
15.Process of Goal Setting: • Describe team's task
• Assess team's ability to achieve certain outcomes
16.Subtle Management Control: Authorizing creation of sourcing team Selecting team's task(s)
Establishing broad objectives Selecting team
leadership
Requiring regular updates or at key milestones Conducting
performance reviews
17.Product Life Cycle: The stages through which goods and servic the time they are introduced
on the market until they are taken off the es move
from
18.White box design: the supplier is given blueprints and told to make the product from them market.
19.Gray box design: Supplier's engineers work cooperatively with buyer's engi- neers in joint design
20.Black box design: Suppliers are provided functional specifications and create design
2/
9
