DANCEST 805 Lecture Notes - Lecture 2: Supplier Relationship Management, Global Sourcing, Single Source Publishing
Document Summary
10. 1 supply management"s impact on firm and supply chain performance. Supply management= the identification, acquisition, positioning, and management of resources and capabilities that a firm need to attain its strategic objective. Sources= the process used to acquire goods and services from suppliers including identity needs; developing purchase specifications; identifying, assessing, and select suppliers, and managing on-going supplier relationship. Raw materials, part, components (go into the products) Services such as accounting, legal, advertising, staffing and engineering design. Integrated solutions that combine both goods and services. > enables the firm to meet its strategic objectives + improve performance. The right purchases are needed at the right time, if it does not work, it can cause problems (such as late deliveries cause an increase in the inventory costs, waste resources, and reduce flexibility for the buyer) How to fix the problem: identifying and managing supply chain risk. 2 identify assess, and mitigate supply chain risk.
