33:799:301 Lecture Notes - Lecture 5: Business Ethics, Corporate Social Responsibility, Strategic Sourcing

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Objectives: improve value-to-price relationships, understand spend category buying, examine supplier relationships, dvlp multi-year contracts , leverage entire org"s spend. & share practices across org: elevate purchasing to a higher level. Single sourcing: you choose to do business with 1 supplier (putting all your eggs in 1 basket: sole sourcing: there is only 1 supplier; you have no choice. Multiple sourcing: choose more than 1 supplier. Functional products: commodity items; readily available & a lot of competition among. Friday, october 6, 2017 suppliers: better to use multi-sourcing. Innovative products: erce competition; short product life cycles; volatile demand: better to use single-sourcing. Kraljic matrix: plot dollar volume that company spends on x axis & availability of products on y axis: strategic items: if the supplier goes out of business, you will go out of business. Supply base: group of suppliers from which company acquires goods/services: consolidate supply base.

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