Purchasing and Supply Chain Management
6th Edition
ISBN: 9781285869681
Author: Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 19, Problem 8DQ
Summary Introduction
To determine: The pros of formulating performance measures that emphases on cost versus purchase price.
Performance and evaluation system is a formal and systematic methodology to observe and assess the purchasing performance.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
WHAT ARE KEY COST COMPONENTS? THE MONETARY CONSEQUENCES OF THE MEANS TO CARRY OUT THE VALUE PROPOSITION
How Is a Value Analysis Plan better or worse than simply finding the lowest price for an item, regardless of vendor or supplier?
Consider the following statement: Some firms still rely on measures that harm rather than support purchasing’s long-term performance objectives. What does this mean? Provide examples of performance measures that might actually result in a negative longer-term effect on purchasing performance.
Chapter 19 Solutions
Purchasing and Supply Chain Management
Knowledge Booster
Similar questions
- Why is it important to capture the transaction-level data associated with all purchasing processes?arrow_forwardHow do rapid changes in market demand impact the budgeting and cost estimation of software products?arrow_forwardIs the supplier capable of hitting affordable targets regarding cost, quality, conductivity, weight, and other performance criteria?arrow_forward
- What is more important for a purchasing transaction, price, timing or quality?arrow_forwardIs a Value Analysis Plan better or worse than simply finding the lowest price for an item, regardless of vendor or supplier? Explain your position.arrow_forwardA purchasing and supply chain performance measurement and management system should directly support corporate goals and objectives. A measurement system that directs behavior and activity away from those goals and objectives is counterproductive and can cause greater harm than good. Effective performance measurement systems have certain characteristics. Select three characteristics and discuss why a measure should possess that characteristic. Why is it sometimes advantageous to benchmark performance against a non-competitor?arrow_forward
- Quantity vs Quality: is there room for both in marketing? How The right mix of quality and quantity will help businesses in marketing and increasing sales?arrow_forwardDiscuss the major difference between cost-reduction and cost-avoidance measures. Why have some described the reported savings in cost-avoidance measures as “soft,” “funny money,” and “easy to manipulate”? When can purchasing take credit for a legitimate cost reduction or cost avoidance?arrow_forwardDiscuss the make-or-buy decision in terms of cost,flexible response, speed and quality.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.