Question: 1. Explain backward and forward vertical integrations. 2. Describe centralized and decentralized purchasing and their advantages. 3. Explain these terms: (a) supply management, (b) materials

1. Explain backward and forward vertical integrations.

2. Describe centralized and decentralized purchasing and their advantages.

3. Explain these terms: (a) supply management, (b) materials management, (c) procurement, (d) purchasing, (e) sourcing, (f) acquisition, (g) sole sourcing and (h) single sourcing. If you are not an ISM member, you will need to register and create an account before you can access the glossary page.

Step by Step Solution

★★★★★

3.39 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Backward integration involves buying part of the supply chain that occurs prior to the companys manufacturing process while forward integration involves buying part of the process that occurs after th... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Describe centralized and decentralized purchasing and their advantages.

Explain backward vertical integration. What are the advantages of outsourcing compared to backward vertical integration?

What is the shear capacity of the RC beam described below considering the steel reinforcement and using the formula: VRsyAw 2fyd cot 8/s The shear reinforcement in the beam is provided by sets of...

During 2015, Litten Company purchased trading securities as a short-term investment. The costs of the securities and their fair values on December 31, 2015, follow: At the beginning of 2015, Litten...

During 2011, Litten Company purchased trading securities as a short-term investment. The costs of the securities and their fair values on December 31, 2011, follow: At the beginning of 2011, Litten...

1. Your best friend won the state lottery and has offered to give you $11,900 in five years, after he has made his first million dollars. You figure that if you had the money today, you could invest...

(Determining product cost) Pearson Custom Lumber Products has identified ac tivity centers to which overhead costs are assigned. The cost pool amounts for these centers and their selected activity...

1. What are the acquisition vehicle, post-closing organization, form of payment, form of acquisition, and tax strategy described in this case study? 2. Describe the firms strategy to finance the...

The shift toward more strategic, higher-value IT offshoring is a significant next step in the evolution of the relationship between multinationals and their suppliers. In their quest for...

Titan Networking became a public company through an IPO (initial public offering) two weeks ago. You are looking forward to the challenges of being assistant controller for a publicly owned...

Refer to Exercise 9.S.6. Suppose you do not trust that the 4% taint rate for wines in general is a useful guess for this particular winery. (a) Suppose that, based on previous years of data at this...

Consider the reaction { m C_{12}H_{22}O_{11}}({ m s}) + { m 12O_2}({ m g}) ightleftharpoons { m 12CO_2}({ m g}) + { m 11H_2O}({ m l}) in which 10.0 m g of sucrose, m C_{12}H_{22}O_{11}, was burned in...

Requirement 2 . Which method tracks the wear and tear on the equipment most closely? The units - of - production method tracks wear and tear most closely.

On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting services, computer system installations, and...

The owner of Neros company has hired you to analyze her company's performance and financial position, as well as the positions of Iits competitors, Centar and Xermix. However, the data Neros abtained...

Lily Tucker ( single ) owns and operates a bike shop as a sole proprietorship. In 2 0 2 4 , she sells the following long - term assets used in her business: Lily's taxable income before these...

2.10 LAB: Set basics Given the user inputs, complete a program that does the following tasks: Define a set, fruits, containing the user inputs myFruit1, myFruit 2, and my Fruit3. Add the user input...

Module 01 Content Instructions You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and...

What are some factors that affect a patient's length and quality of stay in the hospital? How can collecting data on a patient improve their overall experience? Is data important in nursing and...

1-25 MCQ 26-40 T/F MCQ 1. Long term objectives are needed at which level(s) in an organization? a. Corporate b. Divisional C. Functional d. All of the above 2. Which strategy should an organization...

heres 1,2,3 is this better? Many linear systems that derive from physical applications exhibit special structure, i.e., spe. cific zeroonzero patterns, that may be exploited by numerical solver...

Using Matlab, need help writing Functions into the syntax %Equation 1 clear; clc; dydt = @(t,y) [1-sin(t)]; % ODE equation [t,y] = ode45(dydt,0:0.1:4,[1]); % Solver, step size, and Initial Condition...

1. Perform a SWOT analysis for Intel's Costa Rica expansion. The attraction of foreign direct investment (FBI) constitutes a fundamental element to support strategies that aim to achieve sustained...

In this homework we will consider the problem of measuring body fat to practice model selection and obtain predictive models. In order to accurately measure body fat typically a measure of body...

Did Tyos assistant accurately describe the process of bootstrapping? A. Yes B. No, with respect to par yields C. No, with respect to backward substitution Liz Tyo is a fund manager for an actively...