Why does the contemporary view of procurement as a strategic activity differ from the more traditional view of "purchasing?"
Answer to relevant QuestionsHow can strategic procurement contribute to the quality of products produced by a manufacturing organization? ADT’s approach to a supplier scorecard was discussed in this chapter. How could the subjective criteria in the scorecard realistically be scored? Many people think of lean systems as being incompatible with mass customization and flexible manufacturing. Why is this conclusion incorrect? Identify and discuss the major forecast components. Why is it important to decompose demand into these components when developing new forecasts? Illustrate how fine-line inventory classification can be used with product and market segments. What are the benefits and considerations when classifying inventory by product, market, and product/market?
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