Chapt. 16: Global Sourcing and Procurement

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Explain what Strategic Sourcing is. Explain why companies outsource processes. Analyze the total cost of ownership. Evaluate sourcing performance.
akuma33
Flashcards by akuma33, updated more than 1 year ago
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Resource summary

Question Answer
Strategic Sourcing The dev't and mgmt of supplier relationships to acquire goods and services in a way that aids in achieving the needs of a business.
Vendor Managed Inventory When a customer allows the supplier to manage the inventory policy of an item or group of items.
Bullwhip Effect The variability in demand is magnified as we move from customer to producer in the supply chain.
Functional Products Staples that people buy in a wide range of retail outlets, such as grocery stores and gas stations.
Innovative Products Products such as fashionable clothes and personal computers that typically have a life cycle of just a few months.
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