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SCM 4350 > CHAPTER 1 > Flashcards

CHAPTER 1 Flashcards

1
Q

TCO stands for?

A

Total Cost of Ownership

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2
Q

ESI stands for?

A

early supplier involvement

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3
Q

1ST MOVER DEFINITION

A

COMPANY WITH SHORTEST TIME-TO-MARKET

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4
Q

COMPANY WITH SHORTEST TIME-TO-MARKET IS?

A

1ST MOVER

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5
Q

Purchasing = ___ Procurement

A

Tactical

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6
Q

Tactical Procurement IS ___ FUNCTION

A

Purchasing

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7
Q

P-to-P STANDS FOR?

A

Procure-to-Pay

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8
Q

Category Management DEFINITION

A

-Managing a commodity group that has significant commonality (Ex. Chemicals, Drill Pipe, Travel, etc.)

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9
Q

Managing a commodity group that has significant commonality (Ex. Chemicals, Drill Pipe, Travel, etc.) IS?

A

Category Management

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10
Q

Strategic Sourcing (N-step Process) DEFINITION?

A

precursor to sourcing

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11
Q

precursor to sourcing IS?

A

Strategic Sourcing

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12
Q

Supply Management DEFINITION

A

A strategic approach to planning for and acquiring the organization’s current and future needs through effectively managing the supply base, utilizing a process orientation in conjunction with cross-functional teams to achieve the organizational mission.

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13
Q

A strategic approach to planning for and acquiring the organization’s current and future needs through effectively managing the supply base, utilizing a process orientation in conjunction with cross-functional teams to achieve the organizational mission IS?

A

Supply Management

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14
Q

SPEND VISIBILITY DEFINITION

A

UNDERSTANDING HOW MUCH WE HAVE SPENT

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15
Q

UNDERSTANDING HOW MUCH WE HAVE SPENT IS?

A

SPEND VISIBILITY

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16
Q

___ is the starting point of strategic sourcing

A

SPEND ANALYSIS

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17
Q

SPEND ANALYSIS is the starting point of ___

A

strategic sourcing

18
Q

SOW STANDS FOR?

A

statements of work

19
Q

statements of work ARE?

A

SERVICE CONTRACTS

20
Q

SERVICE CONTRACTS ARE?

A

statements of work

21
Q

3 Core Purchasing Processes: Strategic Supply Management Roles and Responsibilities CHART

A
22
Q

STRATEGIC SOURCING STARTS WITH ___

A

SPEND ANALYSIS

23
Q

A statement of an item’s required characteristics

A

Specification:

24
Q

SPECIFICATION DEFINITION

A

A statement of an item’s required characteristics

25
Q

Specifies the work that is to be completed, when it is needed, and what type of service provider is required

A

Statement of Work:

26
Q

STATEMENT OF WORK DEFINITION

A

Specifies the work that is to be completed, when it is needed, and what type of service provider is required

27
Q

CENTRALIZATION DEFINITION

A

DEGREE TO WHICH DECISION MAKING AUTHORITY IS CONCENTRATED AT HIGHER LEVELS IN AN ORGANIZATION

28
Q

DEGREE TO WHICH DECISION MAKING AUTHORITY IS CONCENTRATED AT HIGHER LEVELS IN AN ORGANIZATION IS

A

CENTRALIZATION

29
Q

FORMALIZATION DEFINITION

A

EXTENT TO WHICH AN ORGANIZATION’S POLICIES, PROCEDURES, JOB DESCRIPTIONS, AND RULES ARE WRITTEN AND EXPLICITLY ARTICULATED

30
Q

EXTENT TO WHICH AN ORGANIZATION’S POLICIES, PROCEDURES, JOB DESCRIPTIONS, AND RULES ARE WRITTEN AND EXPLICITLY ARTICULATED IS

A

FORMALIZATION

31
Q

UPPER LEVEL REPORTS TO

A

EXECITIVE VP/CPO

32
Q

MID LEVEL REPORTS TO

A

EXECUTIVE ONE LEVEL BELOW EXECUTIVE VP/CPO: DIRECTOR, TACTICAL

33
Q

LOWER LEVEL REPORTS TO

A

AT LEAST 2 LEVELS BELOW EXECUTIVE VP/CPO: MANAGER

34
Q

KRALJIC SOURCING MATRIX

A
35
Q

MRO STANDS FOR

A

Maintenance Repair Operations

36
Q

5 SOURCING KPIs HEIRARCHY

A
  1. SAFETY
  2. ENVIRONMENTAL SUSTAINABILITY
  3. QUALITY
  4. DELIVERY
  5. COST
37
Q

PONC

A

Price Of Non Conformance

38
Q

SIX SIGMA QUALITY IS EXPRESSED AS ___?

A

3.4 DPMO

39
Q

DPMO STANDS FOR

A

DEFECTS PER MILLION OPPORTUNITIES

40
Q

DMAIC STANDS FOR

A

DEFINE

MEASURE

ANALYZE

IMPROVE CONTROL

SCM 4350 (1 decks)

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