33:010:275 Lecture Notes - Lecture 4: Strategic Sourcing, Statistical Process Control, Vendor-Managed Inventory

• School: Rutgers University
• Department: Accounting
• Course: 33:010:275
• Professor: S Sahay

Document Summary

Chapter 4: strategic sourcing for successful supply chain. You should be able to : describe the difference between purchasing and strategic sourcing, describe how strategic sourcing plans are developed and implemented, define and describe the terms green sourcing, vmi, jit ii, in-sourcing, co-sourcing, and co-managed inventories. Describe how strategic supplier relationships can impact the firm: des(cid:272)ri(cid:271)e sour(cid:272)i(cid:374)g"s role i(cid:374) (cid:373)a(cid:374)agi(cid:374)g ke(cid:455) supplier relatio(cid:374)ships, describe the performance criteria used in assessing suppliers. Understand the importance of sharing the benefits of strategic partnerships. Understand the strategic role played by the purchasing function in developing & improving the supply chain. Sourcing- all of a fir(cid:373)"s a(cid:272)ti(cid:448)ities used to (cid:373)a(cid:374)age e(cid:454)ter(cid:374)al resour(cid:272)es. Strategic sourcing- (cid:373)a(cid:374)agi(cid:374)g the fir(cid:373)"s e(cid:454)ter(cid:374)al resour(cid:272)es to support fir(cid:373)"s lo(cid:374)g ter(cid:373) goals. Improve quality & long-term financial performance: reduce costs & delivery cycle times, reduce high costs of globalization & materials, deliver more innovative products more frequently & cheaply than competitors.