6.7 Chapter 6 Assessment
Conceptual Questions:
- Section 6.1: Introduction
- Question: Why are effective purchasing strategies important for a company’s success?
- Section 6.2: Purchase to Pay
- Question: What is the Purchase to Pay (P2P) process, and why is it important?
- Section 6.2.2: Supplier Selection
- Question: What role does an Approved Supplier List (ASL) play in the supplier selection process?
- Section 6.3: Digitization of Procurement
- Question: How does e-procurement improve the traditional purchasing process?
- Section 6.4: Supplier Development
- Question: What is the purpose of supplier rating in the context of supplier development?
Situational Questions:
Situation 1: Imagine you are responsible for purchasing at a mid-sized manufacturing company. You’ve noticed that one of your regular suppliers has been consistently late with deliveries, causing production delays. How would you apply the concepts of supplier rating and supplier development to address this issue? What steps would you take to ensure that future deliveries are on time?
Situation 2: Your company is transitioning to a fully digitized procurement system. As a procurement manager, you are tasked with ensuring a smooth transition. Using the knowledge from this chapter, outline a plan to implement e-procurement in your organization. How would you convince your team of the benefits, and what challenges might you anticipate?