Admin Table of Contents
- 1 When using a weighted criteria evaluation system with five or more categories?
- 2 What is the process to assess a supplier’s capabilities and their capacity to supply a product or service to the buyer is known as?
- 3 Which of the following is considered an advantage benefit of utilizing in ERP system?
- 4 Is the process of planning implementing and controlling the flow of goods?
- 5 When we should choose make-or-buy decision?
- 6 What factors should be considered when deciding whether to make-or-buy a product?
- 7 What is the difference between weighted-criteria evaluation and TCO evaluation?
- 8 How to create and use a weighted scoring model?
When using a weighted criteria evaluation system with five or more categories?
When using a weighted-criteria evaluation system with five or more categories, vendors should be ranked based on their score in the two highest weighted categories, the others should be discarded.
What is the process to assess a supplier’s capabilities and their capacity to supply a product or service to the buyer is known as?
The process to evaluate a supplier’s capabilities , and their capacity to supply a product or service to a buyer is known as Supplier identification.
What is the specific term typically used to describe when a company acquires one or more of their sources of supply?
Backward Vertical Integration – Refers to a company acquiring one or more of their suppliers.
Which of the following would be a good reason to outsource buy versus make an item?
Which of the following would be a good reason to outsource (buy) versus make an item? A firm lacks the technology or expertise to produce an item. Managing a firm’s external resources in ways that support the long-term goals of the firm can be referred to as?
Which of the following is considered an advantage benefit of utilizing in ERP system?
Which of the following is considered an advantage/benefit of utilizing in ERP system? enables the company to utilize a single centralized database system, thus eliminating duplicate data entry.
Is the process of planning implementing and controlling the flow of goods?
Logistics is the process of planning, implementing, and controlling the effective and efficient flow of goods and services from the point of origin to the point of consumption.
What is SRM process?
Supplier relationship management (SRM) is the systematic approach to evaluating vendors that supply goods, materials and services to an organization, determining each supplier’s contribution to success and developing strategies to improve their performance.
What are the steps in procurement process?
Proper procurement procedure consists of seven main procurement process steps.
- Need identification. This process starts when someone submits a request to the purchasing department.
- Vendor selection.
- Submit purchase requisition.
- Generate purchase order.
- Invoice and order.
- Payment.
When we should choose make-or-buy decision?
Make-or-buy decisions usually arise when a firm that has developed a product or part—or significantly modified a product or part—is having trouble with current suppliers, or has diminishing capacity or changing demand. Make-or-buy analysis is conducted at the strategic and operational level.
What factors should be considered when deciding whether to make-or-buy a product?
Factors Influencing Make or Buy Decision:
- Volume of Production:
- Cost Analysis:
- Utilization of Production Capacity:
- Integration of Production System:
- Availability of Manpower:
- Secrecy or Protection of Patent Right:
- Fixed Cost:
- Availability of competent suppliers or vendors.
How should vendors be ranked in a weighted-criteria evaluation system?
When using a weighted-criteria evaluation system with five or more categories, vendors should be ranked based on their score in the two highest weighted categories, the others should be discarded.
Why do you have to assign weighted values to criteria?
That’s why you must assign specific weight values to each criterion in the form of a percentage. A great example of weighted values is the way we at The Blueprint score the software we review: The Blueprint scoring is based on for ease of use, support, pricing, and features.
What is the difference between weighted-criteria evaluation and TCO evaluation?
In a weighted-criteria evaluation system the weights of all the performance dimensions must add up to total more than 1.00 and less than 100. In a TCO system, certification and training of suppliers would be considered post-transaction costs.
How to create and use a weighted scoring model?
How to create and use a weighted scoring model. 1 Step 1: List out your options. This is the easiest step in the process. All you need to do is list out all the options you’d like to incorporate into 2 Step 2: Brainstorm your criteria. 3 Step 3: Assign weight values to your criteria. 4 Step 4: Create your weighted scoring chart.