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Describe the five phases of supply management. What are the prerequisites to bringing a firm’s supply management function to “strategic” status? Why are many organizations using a hybrid approach to decision-making authority in their supply management? Identify and discuss two ways in which cross-functional teams could be useful in developing new products or completing value analysis functions.

Describe the five phases of supply management.

What are the prerequisites to bringing a firm’s supply management function to “strategic” status?
Why are many organizations using a hybrid approach to decision-making authority in their supply management?
Identify and discuss two ways in which cross-functional teams could be useful in developing new products or completing value analysis functions.
How can a product that costs more save the company money overall?
Distinguish between transactional, collaborative, and alliance relationships.
Define and discuss Value Engineering.
What are two likely benefits of early supplier and early supply management involvement in new product development?
What is the relationship between computer modeling, simulation, and prototype development?
Differentiate between simple and complex specifications.
Identify and discuss two benefits of standardization.
Discuss the philosophies of two of the quality gurus listed in your textbook.
Identify and discuss two of the six themes of Six Sigma.
Identify and differentiate the four formats for Statement of Work.

 

Describe two considerations that favor a multiple sourcing approach.

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