In your initial post, suppose that you are a purchasing manager with a small or mid-sized...

In your initial post, suppose that you are a purchasing manager with a small or mid-sized company. You have been asked to transition the company from traditional/transactional purchasing to strategic sourcing and supplier relationship management.

How would you begin this process? Once implemented, what competitive advantage does strategic sourcing give your organization over its competitors?

Solutions

Expert Solution

There are different steps in the transition process. The first step is to identify the quality parameters, specifications and criteria for the raw materials, other inputs as well the quantities required over a period of time. The establishment of the requirements should take place with interaction with the concerned departments or functions. In the second step, the requirements are quoted through the tenders in popular dailies or listings that can be accessed by the suppliers and vendors. In the next step, the suppliers will quote their price and lead time and the location of the suppliers with the quality details. The next step will be to select the supplier that can offer cost effective deals with quality input material as well as fulfilling the other criteria of the organization. The organization would like to opt for selecting at least 2 suppliers for the materials so that consistency in supply is maintained.

It gives different competitive advantages such as stable prices of the raw materials with consistent supply that helps the organization in their pricing strategy. The strategic tie ups with the suppliers, also bring a strong and flexible supply chain that can face different challenges of the dynamic business environment. It acts as an advantage over the competitors.

keosha answered 1 year ago

Next > < Previous

Related Solutions

As a Human Resources manager for a mid-sized company in your area, you have been tasked...

As a Human Resources manager for a mid-sized company in your area, you have been tasked with purchasing the best group health insurance for your organization. Analyze at least two (2) lifestyle choices relative to the effect(s) that these choices could have on the organization’s premiums. Support your rationale with two (2) health economic examples. Debate It: Take a position that the full implementation of the Affordable Care Act in 2014 will or will not create a market failure for...

Question 2 You are the new compensation and benefits manager for a mid sized organization. You...

Question 2 You are the new compensation and benefits manager for a mid sized organization. You study the system and find inequity in the pay packet amongst employees with similar skills sets. Discuss the theoretical frame work that you would apply to ensure fairness. - (5 Marks ) subject Organizational Behaviour

You have just been hired as the payroll manager of a mid-sized manufacturing company. You notice...

You have just been hired as the payroll manager of a mid-sized manufacturing company. You notice that the time cards are paper documents that the employee submit at the end of the week into an open cardboard box outside of your office. The time cards contain the employee's name, pay rate, social security number, and division where he/she works. You ask the only employee currently in the payroll department, where the payroll files are and she points you to another...

Scenario: You are an accounting manager at a mid-sized public company with annual Revenues around $200M...

Scenario: You are an accounting manager at a mid-sized public company with annual Revenues around $200M and Net Income around $15M. The 2017 year has ended and you've been working hard to close the books and support the audit. The company has released earnings (which requires some audit procedures and the "ok" from the audit firm) to the public and is now in the process of wrapping up the full 10K financial report to file with the SEC with the...

You own a small business with 25 employees. In your initial post, explain which internal controls...

You own a small business with 25 employees. In your initial post, explain which internal controls you would use to protect your assets and ensure that your financial statements are accurate.

You are the financial manager of Walnut Grove City, a small mid-eastern town, and in charge...

You are the financial manager of Walnut Grove City, a small mid-eastern town, and in charge of creating a capital budget for the next year. The only project on the agenda is building a clock tower within the city square and expanding the adjacent park for small events. You must incorporate into the budget the expense of building a clock tower in the city's town square and adjacent park, and may choose the size, exact location and materials to be...

You are currently working at a mid-sized certified public accounting firm. Your client is Bob Jones....

You are currently working at a mid-sized certified public accounting firm. Your client is Bob Jones. Bob, age 60 and single, has recently retired from IBM. He has $690,000 available in his 401(k) fund and he is thinking of using that money to open a used car business that will be located at 210 Ocean View Drive in Pensacola, Florida. Bob has estimated that the business might make $300,000 in taxable income. Bob’s personal wealth including investments in land, stocks,...

You are currently working at a mid-sized certified public accounting firm. Your client is Bob Jones....

You are the director of public relations for a mid-sized organization that is poised for rapid...

You are the director of public relations for a mid-sized organization that is poised for rapid growth within its industry. Your supervisor, the vice president for marketing, suggests that you outsource some of the public relations activities to free you up for some strategic planning. Your supervisor asks for your advice, but he/she will make the final decision. What would you tell him/her are the pros and cons of outsourcing? ANSWER MUST BE 20 LINES LONG

You are the governor of a mid-sized industrial state. You have just read this chapter and...

You are the governor of a mid-sized industrial state. You have just read this chapter and have decided that you want to make reforms to the health care and services delivery systems in your state to increase access to care for vulnerable populations. How would you proceed? Who would you have assist you. What is the time line for this charge?

Subjects