MIS352 Lecture Notes - Lecture 3: Retail
1 Oct 2018
School
Department
Course
Professor
Document Summary
Procurement in practice: enterprise-level, company-level, reference purchasing organisation (hybrid) Procurement (buy: procurement is part of material. All the steps needed to acquire/procure material: key concepts and assumptions: B2c (less doc) vs. b2b commerce (r/s btw b&b) Importance of standardized processes in b2b: conceptual framework, physical flow. How is communication and coordination accomplished: document flow. Free-on-board (fob) is the point at which ownership of material legally transfers from one company to another. Net 30 means payement of invoice is due in 30 days. Can include discounts, e. g. 1% 10/net 30 days meaning 1% discount if paid within 10 days or full amount due in 30 days. Pay only if a three-way match between data on: *financial impact of payment to vendor: information flow: Role of enterprise systems in the procurement process: execute the process: Create purchase requisition (sap edi, e. g. walmart) Receive invoice and send payment: capture and store process data, monitor the process (cid:894)(cid:858)bi(cid:859)(cid:895)
