Recommended Text Books on Supply Chain Management
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Questions and Answers

Explain what is meant by postponement in supply chain management.

Storing product in a generic state and then applying custom labels or packaging before shipping.

Define the concept of Product Life Cycle (PLC) and explain its significance.

PLC states that products and services evolve through different stages, each requiring specific management techniques.

What are companies in the primary sector primarily engaged in?

Extraction of raw materials or products from the earth like farming, fishing, quarrying, mining, or drilling.

Explain what Proof of Delivery (POD) is and why it is important in logistics.

<p>Evidence that goods or services have been received, usually in the form of a signed document.</p> Signup and view all the answers

What does Purchasing 'Rights' entail in supply chain management?

<p>Securing supplies, materials, and services of the right quality, quantity, time, and place at the right cost.</p> Signup and view all the answers

Describe the Purchasing cycle in supply chain management.

<p>The entire procurement process from identifying needs to receiving goods, including supplier performance evaluation.</p> Signup and view all the answers

What are the main elements of the unit discussed in the text?

<p>1.0 The Roles of Sourcing and Procurement, 2.0 Sourcing and Procurement Procedures and Processes, 3.0 Managing Risk and Spend in Relation to Customer and Supplier Requirements, 4.0 Performance Measurement and Control in Sourcing and Supply</p> Signup and view all the answers

What is the advice given to tutors and students regarding the unit?

<p>Tutors and students are encouraged to 'localise and customise' the materials by comparing and contrasting them with the current situation in their own country or region.</p> Signup and view all the answers

What are the learning outcomes after studying 'The Roles of Sourcing and Procurement' element?

<p>Understand the roles of sourcing and procurement in the supply chain, know the corporate sourcing strategy, understand the integration of sourcing with logistics strategy, understand the contribution of sourcing to IT-based manufacturing and distribution systems.</p> Signup and view all the answers

What does the section on 'Sourcing and the Supply Chain' examine?

<p>The supply chain philosophy, benefits of using a supply chain approach, history and evolution of procurement and the supply chain.</p> Signup and view all the answers

What is the purpose of comparing sourcing and procurement in the text?

<p>To determine if there is a difference between the two terms that are often used interchangeably.</p> Signup and view all the answers

What is the minimum requirement for VMC to break even in the final period of the year?

<p>Breaking even</p> Signup and view all the answers

What percentage of profits does VMC need to achieve next year?

<p>5%</p> Signup and view all the answers

By how much does VMC need to increase sales next year?

<p>20%</p> Signup and view all the answers

What was the main directive given to the purchasing manager by the MD in the survival effort?

<p>To drive the survival effort</p> Signup and view all the answers

How many suppliers are in VMC's supplier base?

<p>2,600 suppliers</p> Signup and view all the answers

How many suppliers does VMC typically have for each item they source competitively?

<p>At least two suppliers</p> Signup and view all the answers

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