Study_guide_and_example_questions_-_Exam

Study_guide_and_example_questions_-_Exam - Study Guide and...

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1 Study Guide and Example Questions SCM 371 – Fall 2011 – Exam 1 TOPICS TO FOCUS ON Introduction to Procurement and Supply Management (PSM) How can PSM be defined? Why is PSM important? How did PSM evolve over the last 150 years? What are the objectives of PSM? Why are these reasonable objectives for PSM? What are the responsibilities of PSM? Why are these reasonable responsibilities for PSM? What impact can PSM have on the bottom line? How is this achievable? What does it mean when PSM is pushed to the next level? What are some megatrends affecting how PSM is conducted? What are some of the pressures PSM is under? What is the difference between tactical and strategic purchasing? What are some best in class PSM strategies pursued by leading companies? What are important strategy areas to focus on, as perceived by a panel of companies? Where is greatest need for improvement? What are some critical sourcing strategies? What are some principles guiding these strategies? What are some barriers to strategic PSM? What are some key take-aways from the article ‘Strategic Sourcing: From Periphery to the Core’? What examples were used, and what do they illustrate? Supply Chain Strategy and the Role of PSM What are functional goals? How might the pursuit of strictly functional goals by individual departments lead to benefits for them, with however overall detrimental effect for the company (think about the performance dimensions that might be used for purchasing, which might actually hurt the performance dimensions for production and marketing)? What is the value of internal integration? How does such internal integration look like in firms? What is the value of external integration? How does such external integration look like across companies? What is the SCOR Model and how does it look like? What is the product-process matrix? What lessons can we take from it for PSM strategy development? What is a read ocean / blue ocean strategy? What is the right supply chain for your product? What were the key take-aways from this Marshall Fisher article?
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2 How did Hau Lee complement this framework? In his framework, what do the individual quadrants imply? What are ways to reduce uncertainty (i.e. to move toward an efficient supply chain as much as possible)? What is the resource-based view?
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This note was uploaded on 12/29/2011 for the course SCM 371 taught by Professor Tobias during the Fall '11 term at Michigan State University.

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Study_guide_and_example_questions_-_Exam - Study Guide and...

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