QUESTION $1$

$1\mathrm{.}1$ Logistics and supply chain managers are looking for ways to drive more value from their purchasing and procurement operations. Whether it may be pressure from demanding customers, the emergence of lower$-$cost competition from global sources, or the complexity of supply chains, executives are finding that the time$-$honored emphasis on low$-$cost purchasing just isn't cutting it anymore. As a result, the topics of purchasing, procurement, and strategic sourcing are all receiving considerable attention as organizations try to improve the overall efficiency and effectiveness of their supply chains. Keeping this in mind, Describe and discuss the differences and relationships between purchasing, procurement, and strategic sourcing. How have these concepts evolved? $10$

$1\mathrm{.}2$ The order to cash $($or order cycle$)$ is all of the activities that occur from when a seller receives an order until the buyer receives the product, plus the flow of funds back to the seller based on the invoice. With this in mind. Discuss the order cycle process in sequence only focusing on D$1$ to D$7($Information and Product flow$)?14$

QUESTION $2$

$2\mathrm{.}1$ Strategic sourcing is a much broader and more comprehensive process than procurement or purchasing. Although there are numerous methodologies to describe the strategic sourcing process, one such element of approach is managing the strategic sourcing process. Keeping this in mind, discuss the strategic sourcing process in details? $14$

$2\mathrm{.}2$ The value criterion examines product or service features that enhance profits for the final product and the firm's ability to maintain a competitive advantage in the marketplace. For example, a computer chip that is faster or an operating system that is more user friendly will make the computer more desirable, thereby increasing demand for the product and, consequently, increasing profits. Risk reflects the chance of failure,$\text{'}$ nonacceptance in the marketplace, delivery failures, and source nonavailability. With this in mind, Using the risk$/$value technique, categorize the importance of the following items for an automobile manufacturer: engine, tires, gasoline, paper for the employee newsletter, a uniquely designed and engineered muffler, and rail car service to dealers. Describe the rationale you used to ascertain each categorization? $12$