1.Discuss the specific objectives of purchasing and supply management.
Relate these to (1) the automobile industry, (2) a hospital, and (3) a pizza shop or an industry that you've had experience with your career.
2. What do you think? (In positive way please)
The question is :Compare and contrast two unique types of purchasing categories in the business world.
2.1 two categories that come to mind are deciding to "new buy" items OR "repeat buy" items. With Repeat buy items, typically the price is approximately the same as is the quality, receiving the same product from suppliers. New buy would look at getting a price reduction or increase in quality, taking the chance that the new buy would be better for the firm to produce goods (at cheaper price or higher quality). My firm manufactures chemical solutions, so our suppliers' quality is crucial to our success of satisfying customer needs. Recently we have begun moving away from repeat buys, focusing on new buys for equivalent goods with lower costs.
The question is :The purchasing function can easily make a contribution to profitability. Please discuss this statement.
2.2 I feel that purchasing function is getting to be such a top priority now more then ever, due to the fact that companies are cutting back on spending. Technology has enabled companies to price compare where in the past resources were limited to certain boundaries and companies in those boundaries.
The other key element that plays a factor is overhead. Companies in the past had to have more overhead because if they ran out of a certain material they would have to rely on their vendor to come to the location and order the part or material they needed to continue working. Now if a company runs out it is due to missed communications because everything is bar coded and entered into a computer and sent to the supplier to be reordered.
The profit leverage of purchasing is based on quality, price, and inventory. In today's business world companies are realizing that just because you buy more and get a better price, are you really saving money if it sits in the warehouse for months or years to be used.
2.3 The question is : Watch 3-D Video listed under Web-links and discuss how this is going to change purchasing and procurement.
The idea of 3d imaging is fascinating! It is always amazing the technology that is developed. 3D printing is "gonna force us to change the way we buy products." It could impact seasonal industries with large overhead and also interfere with the middle-men of the manufacturing process. It will change the ways design and production function, threatened by the use of 3D printings.
One important thing that was pointed out in the video is copyright and patent infringement, and how to prove it is occurring when there is NO case law out their dealing with 3D printing currently as it is at its beginnning stages of existence. I do think some firms will be extrmeley threatened by the existence of this technology if it is made affordable to consumers. Unfortunately though it is the way the business cycle works. People come up with new ideas everyday and force out the outdated ones.
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