Business Management supply integration

Involves professionally managing suppliers and developing close working relationships with different internal groups

integration

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the process of incorporating or bringing together different groups, functions, or organizations, either formally or informally, physically or by information technology, to work jointly and often concurrently on a common business-related assignment or purpose

relationship management skills

the ability to act ethically, listen effectively, communicate, and use creative problem solving

collaboration

the process by which two or more parties adopt a high level of purposeful cooperation to maintain a trading relationship over time to achieve specified goals

trust

refers to the belief in the character, ability, strength, and truthfulness of another party

cross-functional sourcing team

consists of personnel from different functions and, increasingly, suppliers, brought together to achieve supply management or supply chain-related tasks

process loss

occurs when a team does not complete its task in the best or most efficient manner, or members are not motivated to employ their resources to create a successful outcome

groupthink

the tendency of a rational group or team to arrive at a bad decision when other information is available

meaningful task

requires members to use a variety of higher-level skills, supports giving members regular feedback about performance, results in an outcome with a significant effect on the organization and others outside the team, and provides members autonomy for deciding how they will do their work

black box design

suppliers are provided with functional specifications and are asked to complete all technical specifications, including materials to be used, blueprints, and so on

white box design

the supplier is given blueprints and told to make the product from them

grey box design

the supplier’s engineers work cooperatively with the buying company’s engineers to jointly design the product

guest engineer program

the buyer invites key suppliers to place an engineer in the buying company’s facility for a short period of time in the very early stages of product development

technology roadmap

refers to the set of performance criteria and products and processes an organization intends to develop or manufacture

supplier-managed inventory

to have the on-site supplier representative assist in managing the inventory of materials or services, provide technical support, and in some cases even aid in assembling and producing the product or service

organizational design

refers to the process of assessing and selecting the structure and formal system of communication, division of labor, coordination, control, authority, and responsibility required to achieve organizational goals and objectives

centralized structure

when the chief purchasing officer at corporate headquarters has the authority for the majority of the organization’s purchase expenditures

decentralized structure

when the authority for the majority of purchase expenditures is at the divisional, business unit, or suite level

center-led structure

the organizational structure which combines a centralized approach for purchased items common to several business units and decentralized approach to unique requirements

ownership

refers to the assumption that local personnel understand and support the objectives of the business unit or divisions and feel a personal commitment to a particular operation

lead division buying

a group of operating units buy common items, typically because they produce common products

purchasing council

comprised of a group of buyers who purchase similar items at various facilities

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consortium

a voluntary group where buyers are in the same industry and conduct business with many of the same suppliers

coordination

a process that defines how a firm communicates and integrates decision making across the groups comprising the organization

sourcing, negotiating, and contract management

involves identifying company spend and matching it to the best potential suppliers, negotiating with the selected suppliers, and finally managing the contract

market intelligence and research

Involves a systematic monitoring of the supply environment to assure a continual economic supply of goods and services

operational support and follow-up

includes the activities supporting the day-to-day operations of the purchasing or materials function

administration and data management

Responsible for developing the policies and procedures that purchasing personnel follow, administering and maintaining the purchasing information system and database, determining required staffing levels, developing department plans, organizing training and seminars for buyers, and developing measurement systems to evaluate purchasing performance

buying

a broad term describing the purchase of raw materials, components, finished goods, or services from suppliers

expediting

the process of personally or electronically contacting suppliers to determine the status of past-due or near-past-due shipments

inventory control

monitors the day-to-day management of purchased and in-process inventory at each using location

insourcing/outsourcing

purchasing often analyses whether a new or existing purchase requirement should be internally or externally sourced

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value analysis

the organized study of an item’s function as it relates to value and cost

team

a group of two or more organizational members who are mutually accountable for achieving a common goal

vertical focus

where work and information are managed up and down within functional groups

horizontal focus

where work and information are managed across groups and between organizations

process focus

where work is organized around higher level end items or subassemblies versus purchasing parts and components

co-location

purchasing personnel are located with internal customers to provide lowered costs and improved services to internal customers

open information channel

makes information widely available across the supply chain via the internet, intranets, and information technologysystems

category

refers to a specific family of products or services that are used in delivering value to the end customer

corporate strategy

concerned with (1) the definition of business in which the corporation wishes to participate and (2) the acquisition and allocation of resources to these business units

business unit strategy

concerned with (1) the scope or boundaries of each business and the links with corporate strategy and (2) the basis on which the business units will achieve and maintain a competitive advantage within an industry

supply management strategy

specifies how supply management will (1) support the desired competitive business-level strategy and (2) compliment other functional strategies

integrative

a strategy development process that means that the strategy is drafted by those people responsible for implementation

spend analysis

an annual review of a firm’s entire set of purchases

category strategy

a decision process used to identify which suppliers should provide a group of products or services, the form of the contract, the performance measures used to measure suppliers performance, and the appropriate level of price, quality, and delivery arrangements that should be negotiated

project charter

a clear statement of the goals and objectives of the sourcing project

triangulate

means to explore, compare, and contrast data from multiple sources before it can be calidated

five forces

created to describe competitive forces in a market economy

benchmarking

requires identifying the critical performance criteria of interest and identifying relative competitive performance

industry benchmarking

involves comparison of performance with firms in the same industr

external benchmarking

involves comparison of best practices and performance levels achieved by firms that are not within the same industry

RFI (request for information)

a solicitation document that is used by organizations to obtain general information about services, products, or suppliers

value chain analysis

used to help identify the cost savings opportunities that exist within the supply chain

supplier research

required to identify the specific capabilities and financial health of key suppliers that are in the supply base or that may not currently be in the supply base

portfolio analysis

a tool to structure and segment the supply base and is used as a means of classifying suppliers into one of four types

evaluation scorecard

a decision support tool in which the buying firm assigns a weight to different evaluation categories and develop a numerical score for each supplier in each category, thereby developing a final performance score

preferred supplier

one who has demonstrated its performance capabilities through previous purchase contracts and, therefore, receives performance during the supplier selection process

supply base optimization

also known as rightsizing, is the process of determining the appropriate number and mix of suppliers to maintain

low-cost country sourcing

an approach that requires supply management to view the entire world as a potential source for components, services, and finished goods

longer-term supplier relationship

involves the selection of, and continuous involvement with, suppliers viewed as critical over an extended period of time

early supplier design involvement

requires key suppliers to participate at the concept or predesign stage of new-product development

supplier development

means working directly with a supplier to facilitate improvement in a designated functional or activity area

total cost of ownership

the process of identifying cost considerations beyond unit price, transport, and tooling

e-RA (E-Reverse Auctions)

an online, real-time dynamic auction between a buying organization and a group of prequalified suppliers who compete against each other to win the business to supply goods or services that have clearly defined specifications for design, quantity, delivery, and related terms and conditions

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