| What exactly is Procurement? | -This is simply the Process of Overviewing the Ordering and Receiving the Goods and Service
-In a Nutshell: making sure the Customer gets what it wants |
| What is Important for Procurement? | -What is Needed
-Finding the Suppliers
-Payment Terms
-Negoation between Businesses and Suppliers
-Seeing how Goods are Ordered and Recieved
-Managing the Logistics |
| What exactly is Logistics? | -This is simply the Distribution side of the Order
-Making sure the Raw Materials is Stored up to it being Transported to the Customer |
| What is a Supply Chain? Give a Supply Chain | -This is simply the Chain of Organisations that let the Products be Accessible by the Customr
-Suppliers of RM --> Manufactorus --> Wholesalers or Retailers --> Customers |
| In the Supply Chain, what should be Managed? What can this Create? | -Making sure you have the Right Amount of Goods, that is at the Right Place, at the Right Time, with the Right Quality assured and has the Right Price for the Customer
-This can lead to Value for the Customer, and may establish Customer Retention |
| What are the Benefits of having a Good Supply Chain and therefore good Decisions? | -Repuation: Having everything go Right will send a Positive Image of the Business, as it won't Delay your Expectations
-Efficieny: Production or Time to make the Products may go Down from Effective Decisions
-Lower Unit Costs: Having a Negoation with the Supplier could lead to Lower Prices for Raw Materils, so Lower Unit Costs. This can be for Greater Proft, or for a Lower Price
-Customer Satifactory: Making sure everything goes Right will Increase the Brand Loyalty |
| What happens in a Effective Supply Chain? | -Planning: Making sure you have the Right Quanity of Products to establish a Secure Profit
-Procurement: Best Suppliers = Best Value for Best Quality Materials
-Communication: Making sure you are Updated with the Suppliers and Logistics can ensure no Delays or Waste [Almost, Human Error still Exists]
-Removal of Waste: Alllowing Quality Assurance or Just in Time can allow Lower Costs and Greater Quality for Production
-Reviewing: Making sure you have the most Updated Transport Routes can mean the Most Efficient Route. |
| When making Supply Decisions, what may Influence them? | -Quality can be Plumited if the Costs are too low [Suppliers may just Leave if treated Unfairly]
-IT Systems may be Needed to Monitor the Supply Chain - Expensive and needs Specilists
-Business may not have Full Control over the Operation if it shares with Other Businesses [Farmer may not get its ideal Market if it goes to Commerical Company] |
