Identifying true or false: I - Just-in-time purchasing is guided solely by the economic order quantity. II - Companies that implement JIT purchasing will switch their suppliers when another supplier offers alower price. III - Just-in-time purchasing describes the flow of goods, services, and information from the initial sourcesof materials and services to the delivery of products to consumers, regardless of whether those activities occur in the same organization or in other organizations Group of answer choices All are false. T, T, F F, F, T All are true T, F, T

Identifying true or false: I - Just-in-time purchasing is guided solely by the economic order quantity. II - Companies that implement JIT purchasing will switch their suppliers when another supplier offers alower price. III - Just-in-time purchasing describes the flow of goods, services, and information from the initial sourcesof materials and services to the delivery of products to consumers, regardless of whether those activities occur in the same organization or in other organizations Group of answer choices All are false. T, T, F F, F, T All are true T, F, T

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Chapter2: The Purchasing Process

Section: Chapter Questions

Problem 1GPE

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can you please help me answer this question.... Rebar Company prepared the following analysis of its year-end inventory on December 31. First, determine the total lower of cost or market value for each product in Rebar Company's inventory. Second, prepare the journal entry needed at year-end to value the inventory at LCM, if applicable. Historical Cost Replacement Cost Product Quantity per unit per unit A 17 $430 $499 B 140 325 299 C 38 75 69
121) The difference between what a consumer would be willing to pay and the price actually paid is referred to as: a) Consumer’s demand b) Consumer’s surplus c) Supplier surplus d) Supplier demand
Assume that you are the Purchasing Manager recently joined to a manufacturing company which consistswith several functional divisions. You are reporting to the Managing Director of the company. The companyhas been implementing a purchasing strategy with less coordination with the other functional groups withinthe company. Moreover, there has been no coordination with its suppliers. As a qualified person with aMBA in supply chain management, you identified that it is required to do changes in many areas, especiallythe integration and collaboration of functional divisions when developing purchasing strategies. Write aone-page memo to the Managing Director outlining the benefits of having regular meetings between theheads of design, marketing, production and yourself when implementing the purchasing strategy. Indicatethe possible advantages of involving suppliers in the preparation of specifications for bought-out items andon developing new products. Describe at least four benefits of…
Assume that you are the Purchasing Manager recently joined to a manufacturing company which consistswith several functional divisions. You are reporting to the Managing Director of the company. The companyhas been implementing a purchasing strategy with less coordination with the other functional groups withinthe company. Moreover, there has been no coordination with its suppliers. As a qualified person with aMBA in supply chain management, you identified that it is required to do changes in many areas, especiallythe integration and collaboration of functional divisions when developing purchasing strategies. Write aone-page memo to the Managing Director outlining the benefits of having regular meetings between theheads of design, marketing, production and yourself when implementing the purchasing strategy. Indicatethe possible advantages of involving suppliers in the preparation of specifications for bought-out items andon developing new products.
N2 More specifically, what are the two main reasons why certain things should not be up for sale?
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