PURCHASING CHAPTER 1 QUESTIONS.docx - 1.Define cross...

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1.Define cross- functional? it involves purchasing, engineering, supplier quality assurance, the supplier, and other related functions working together as one team, early on, to further mutual goals. 2. What purpose does the ISM report? Is one of the most closely followed indicators of economic activity. This monthly survey of purchasing managers in both the manufacturing and non-manufacturing sectors is closely monitored by the financial sector, and the results of both reports have the power to move financial markets. The ISM Report on Business is a change index, and generally a rating over 50 indicates the economy is expanding. 3.Describel the 3 organizations linked to a supply chain? A supply chain is a set of three or more organizations linked directly by one or more of the upstream or downstream flows of products, services, finances, and information from a source to a customer 4.what are value chains composed of ?
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