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Flashcards in CHAPTER 1 Deck (40)
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1

TCO stands for?

Total Cost of Ownership

2

ESI stands for?

early supplier involvement

3

1ST MOVER DEFINITION

COMPANY WITH SHORTEST TIME-TO-MARKET

4

COMPANY WITH SHORTEST TIME-TO-MARKET IS?

1ST MOVER

5

Purchasing = ___ Procurement

Tactical

6

Tactical Procurement IS ___ FUNCTION

Purchasing

7

P-to-P STANDS FOR?

Procure-to-Pay

8

Category Management DEFINITION

-Managing a commodity group that has significant commonality (Ex. Chemicals, Drill Pipe, Travel, etc.)

9

Managing a commodity group that has significant commonality (Ex. Chemicals, Drill Pipe, Travel, etc.) IS?

Category Management

10

Strategic Sourcing (N-step Process) DEFINITION?

precursor to sourcing

11

precursor to sourcing IS?

Strategic Sourcing

12

Supply Management DEFINITION

A strategic approach to planning for and acquiring the organization’s current and future needs through effectively managing the supply base, utilizing a process orientation in conjunction with cross-functional teams to achieve the organizational mission.

13

A strategic approach to planning for and acquiring the organization’s current and future needs through effectively managing the supply base, utilizing a process orientation in conjunction with cross-functional teams to achieve the organizational mission IS?

Supply Management

14

SPEND VISIBILITY DEFINITION

UNDERSTANDING HOW MUCH WE HAVE SPENT

15

UNDERSTANDING HOW MUCH WE HAVE SPENT IS?

SPEND VISIBILITY

16

___ is the starting point of strategic sourcing

SPEND ANALYSIS

17

SPEND ANALYSIS is the starting point of ___

strategic sourcing

18

SOW STANDS FOR?

statements of work

19

statements of work ARE?

SERVICE CONTRACTS

20

SERVICE CONTRACTS ARE?

statements of work

21

3 Core Purchasing Processes: Strategic Supply Management Roles and Responsibilities CHART

22

STRATEGIC SOURCING STARTS WITH ___

SPEND ANALYSIS

23

A statement of an item's required characteristics

Specification:

24

SPECIFICATION DEFINITION

A statement of an item's required characteristics

25

Specifies the work that is to be completed, when it is needed, and what type of service provider is required

Statement of Work:

26

STATEMENT OF WORK DEFINITION

Specifies the work that is to be completed, when it is needed, and what type of service provider is required

27

CENTRALIZATION DEFINITION

DEGREE TO WHICH DECISION MAKING AUTHORITY IS CONCENTRATED AT HIGHER LEVELS IN AN ORGANIZATION

28

DEGREE TO WHICH DECISION MAKING AUTHORITY IS CONCENTRATED AT HIGHER LEVELS IN AN ORGANIZATION IS

CENTRALIZATION

29

FORMALIZATION DEFINITION

EXTENT TO WHICH AN ORGANIZATION'S POLICIES, PROCEDURES, JOB DESCRIPTIONS, AND RULES ARE WRITTEN AND EXPLICITLY ARTICULATED

30

EXTENT TO WHICH AN ORGANIZATION'S POLICIES, PROCEDURES, JOB DESCRIPTIONS, AND RULES ARE WRITTEN AND EXPLICITLY ARTICULATED IS

FORMALIZATION