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26 Cards in this Set
- Front
- Back
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Supply Management |
The identification, acquisition, positioning, and management of resources and capabilities that a firm needs to attain its strategic objectives. |
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Sourcing |
The identification, evaluation, selection, and management of suppliers. |
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Supply Chain Risk |
The probability of an unplanned event that negatively affects a firms ability to serve its customers. |
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Supply Chain Resilience |
The capability of a supply chain to minimize the impact of a disruption and to recover after a disruption |
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TCO Total cost of ownership |
All of the costs incurred before, during, and after a purchase |
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Sustainability |
The ability or capacity of the system (the firm and its supply chain) to maintain or sustain itself by improving its performance in terms of how it manage pollution (planet), people, and changes in the business model (profit). |
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Insourcing |
Acquiring inputs from operational processes provided within the firm |
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Outsourcing |
Acquiring inputs from operational processes provided by suppliers |
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Make or buy decision |
The choice between making a product internally or purchasing it from a supplier |
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Fixed costs per contract |
Costs incurred at the start of production or the beginning of a new contract. |
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Fixed costs per order |
Costs incurred at the start of production or the beginning of a new contract |
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Variable costs |
Costs that change in proportion to the quantity of units produced or service delivered. |
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Spend Analysis |
A process that identifies what purchases are being made in an organization |
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Purchase Requisition |
A document that communicates needs between the user and supply management |
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Supply base optimization |
the determination of the number of suppliers to use |
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Adversarial relationships |
Relationships characterized by distrust and limited communications |
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Arms Length Relationships |
Relationships limited to simple purchasing transactions |
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Acceptance of mutual goals |
A collaborative relationship that lacks the commitment of a full partnership |
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Full partnerships |
Relationships that have close working relations, trust, mutual respect, and highly integrated operations |
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Request for proposal or Quotation |
Documents sent to suppliers to request bids. These must describe the purchase requirements as specifically as possible. |
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Competitive Bidding |
A selection in which suppliers submit bids to win the buyers business |
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Online reverse Auctions |
Competitive bidding systems that allow suppliers to submit multiple bids within a fixed time. |
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Negotiation |
A bargaining process involving a buyer and seller seeking to reach mutual agreement. |
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Supplier Scorecard |
Used to report a suppliers performance on key performance indicators |
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Supplier Certification |
An assessment that verifies effective procedures related to the buyers requirements. |
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S.R.M. (Supplier relationship management) |
A comprehensive system, facilitated by software, that works on managing the firms interactions with its supply base. |
