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15 Cards in this Set
- Front
- Back
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Five Rights Objectives of Purchasing
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1. of the right quality
2. in the right quantity 3. at the right time 4. at the right price 5. from the right supplier |
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Organizational Buying
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-the decision making process by which formal organizations establish the need for purchased products and services
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Pareto Analysis
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-A-products: 20% of the products account for 80% of purchasing amount
-B-products: 50% account for 15% -C-products: 30% account for 5% |
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Buygrid Framework (Internal Perspective)
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1. the buying process
2. recognition of a need 3. determination of characteristics and quantity 4. description of characteristics and quantity |
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Collaborative Planning
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-the management of upstream and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain
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e-Procurement
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-the use of internet technologies over intranets, extranets or the web to streamline procurement process
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e-Procurement Models
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1. buyer-centric (buyer is at hub)
2. seller-centric (supplier is at hub) 3. e-Marketplace (third part is at hub) |
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Four Components of e-Procurement
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1. requisition management
2. transaction management 3. connectivity management 4. content management |
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Requisition Management
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-enables users to place order
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Transaction Management
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-transfer the order to supplier
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Connectivity Management
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-integration with supplier and internal systems
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Content Management
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-up-to-date data
-technical functionality |
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e-Catalog Advantages
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-greater flexibility
-personalized content -standard interface -reduced cost of coordination -data gathering |
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-Catalog Disadvantages
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-cost of systems integration
-distributed order and delivery volumes by individual employees |
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Benefits of e-Procurement
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-reduced purchase cycle time and cost
-enhanced budget control -elimination of administrative errors -increase buyers productivity -lower prices -improved information management |
