Procurement at FOM Hochschule Für Oekonomie & Management | Flashcards & Summaries

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TESTE DEIN WISSEN
What are the benefits of international and local sourcing 
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TESTE DEIN WISSEN
Local
  • Flexibility to deliver faster
  • Shorter delivery times 
  • Lower transport cost
  • Support local community 
  • Makes just in time possible
  • Better for environment and less transport problems 
International 
  • Lower price
  • Availability to specialist regions 
  • Availability of products not available locally 
Lösung ausblenden
TESTE DEIN WISSEN
What is the primary benefit from pull scheduling 
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TESTE DEIN WISSEN
Avoid excess inventory and the costs associated with holding inventory 
Lösung ausblenden
TESTE DEIN WISSEN
What is procurement?
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TESTE DEIN WISSEN
  • Buying goods and services 
  • Relating to the business needs 
  • Manage suppliers 
  • Develop purchasing strategies 
Lösung ausblenden
TESTE DEIN WISSEN
Name the stages of procurement process 
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TESTE DEIN WISSEN
Needs Recognition 
  • realising a product or service is needed
Purchase Requisition
  •  a request is sent to the purchasing departmen
Review of Request 
  • the procurement team reviews the request and approves or rejects it
Budget Approval 
  • the purchase order is reviewed by the accounting department 
Receive Goods 
  • the goods are delivered and the purchaser checks the order
Three Way Matching  
  • purchase orders, packaging slips and suppliers invoices are checked
Invoice Approval Payment 
  • if all is ok, the invoice is approved and the payment is processed
Record Keeping
  • a record is made for bookkeeping and auditing
Lösung ausblenden
TESTE DEIN WISSEN
Compare centralized with decentralized procurement 
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TESTE DEIN WISSEN
Centralized 
  • One procurement department
  • In Company headquarters 
  • Works on many projects
Decentralized 
  • Spread over a number of locations 
Lösung ausblenden
TESTE DEIN WISSEN

What is Dual Sourcing?

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TESTE DEIN WISSEN

Using more than one supplier for a component, raw material, product or service

Lösung ausblenden
TESTE DEIN WISSEN
How do the issues affect a business (abc xyz analysis)

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TESTE DEIN WISSEN
Running out of stock 
  • Causes production disruption 
Having too much stock
  • More storage space cost 
Regularly ordering small amount of inputs 
  • Transportation cost are higher for frequent small deliveries 
Lösung ausblenden
TESTE DEIN WISSEN
Name disadvantages and advantages of centralized procurement 
Lösung anzeigen
TESTE DEIN WISSEN
Advantage 
  • Less duplication
  • Specialized staff
  • Standardised behavior 
  • Frees up department heads
  • Large volumes = stronger supplier relation 
Disadvantage 
  • Slower decision 
  • Longer to receive goods 
  • Slower to exchange defective goods
  • Can’t use local suppliers
  • Lack of department knowledge 
Lösung ausblenden
TESTE DEIN WISSEN
What is pestle 
Lösung anzeigen
TESTE DEIN WISSEN
It helps to review the environment a company operates in 

political 
  • Policy(tax), infrastructure, corruption, education
Economic 
  • Consumer income, /-rate 
Social
  • Cultural trends, distribution (age), attitude (lifestyle)
Technological
  • Level of innovation, technological change 
Legal
  • Safety standard, laws (copyright)
Environmental 
  • Climate, geographical 
Lösung ausblenden
TESTE DEIN WISSEN
What are the five forces of porter 
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TESTE DEIN WISSEN
Helps companies to see what they need to do for example to leave to market or adapt their business model 

competitive rivarly
  • How competitive is the market 
Supplier power
  • Are there supplier
Substitute 
  • Can customer buy a substitute for your product elsewhere 
Threat of new entrants 
  • How easy for new business to enter the market 
Buyer power 
  • Can customer easily move to the competition 
Lösung ausblenden
TESTE DEIN WISSEN
Explain the xyz analysis 
Lösung anzeigen
TESTE DEIN WISSEN
Is it easy to forecast when we will need an item (variability of demand)

x item
  • Easier to forecast 
  • Steady use over time
Y item 
  • Harder to forecast
  • Demand not steady but can be predicted (z.b. seasonality)
Z item
  • Most difficult to forecast 
  • Demand fluctuates strongly, there is no trend 
Lösung ausblenden
TESTE DEIN WISSEN
Explain the abc analysis
Lösung anzeigen
TESTE DEIN WISSEN
Items are ranked for total value 
  • Total value = quantity * unit cost
A item
  • Most total value
B item
  • Middle total value
C item
  • Least total value
Lösung ausblenden
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Q:
What are the benefits of international and local sourcing 
A:
Local
  • Flexibility to deliver faster
  • Shorter delivery times 
  • Lower transport cost
  • Support local community 
  • Makes just in time possible
  • Better for environment and less transport problems 
International 
  • Lower price
  • Availability to specialist regions 
  • Availability of products not available locally 
Q:
What is the primary benefit from pull scheduling 
A:
Avoid excess inventory and the costs associated with holding inventory 
Q:
What is procurement?
A:
  • Buying goods and services 
  • Relating to the business needs 
  • Manage suppliers 
  • Develop purchasing strategies 
Q:
Name the stages of procurement process 
A:
Needs Recognition 
  • realising a product or service is needed
Purchase Requisition
  •  a request is sent to the purchasing departmen
Review of Request 
  • the procurement team reviews the request and approves or rejects it
Budget Approval 
  • the purchase order is reviewed by the accounting department 
Receive Goods 
  • the goods are delivered and the purchaser checks the order
Three Way Matching  
  • purchase orders, packaging slips and suppliers invoices are checked
Invoice Approval Payment 
  • if all is ok, the invoice is approved and the payment is processed
Record Keeping
  • a record is made for bookkeeping and auditing
Q:
Compare centralized with decentralized procurement 
A:
Centralized 
  • One procurement department
  • In Company headquarters 
  • Works on many projects
Decentralized 
  • Spread over a number of locations 
Mehr Karteikarten anzeigen
Q:

What is Dual Sourcing?

A:

Using more than one supplier for a component, raw material, product or service

Q:
How do the issues affect a business (abc xyz analysis)

A:
Running out of stock 
  • Causes production disruption 
Having too much stock
  • More storage space cost 
Regularly ordering small amount of inputs 
  • Transportation cost are higher for frequent small deliveries 
Q:
Name disadvantages and advantages of centralized procurement 
A:
Advantage 
  • Less duplication
  • Specialized staff
  • Standardised behavior 
  • Frees up department heads
  • Large volumes = stronger supplier relation 
Disadvantage 
  • Slower decision 
  • Longer to receive goods 
  • Slower to exchange defective goods
  • Can’t use local suppliers
  • Lack of department knowledge 
Q:
What is pestle 
A:
It helps to review the environment a company operates in 

political 
  • Policy(tax), infrastructure, corruption, education
Economic 
  • Consumer income, /-rate 
Social
  • Cultural trends, distribution (age), attitude (lifestyle)
Technological
  • Level of innovation, technological change 
Legal
  • Safety standard, laws (copyright)
Environmental 
  • Climate, geographical 
Q:
What are the five forces of porter 
A:
Helps companies to see what they need to do for example to leave to market or adapt their business model 

competitive rivarly
  • How competitive is the market 
Supplier power
  • Are there supplier
Substitute 
  • Can customer buy a substitute for your product elsewhere 
Threat of new entrants 
  • How easy for new business to enter the market 
Buyer power 
  • Can customer easily move to the competition 
Q:
Explain the xyz analysis 
A:
Is it easy to forecast when we will need an item (variability of demand)

x item
  • Easier to forecast 
  • Steady use over time
Y item 
  • Harder to forecast
  • Demand not steady but can be predicted (z.b. seasonality)
Z item
  • Most difficult to forecast 
  • Demand fluctuates strongly, there is no trend 
Q:
Explain the abc analysis
A:
Items are ranked for total value 
  • Total value = quantity * unit cost
A item
  • Most total value
B item
  • Middle total value
C item
  • Least total value
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