which of the following is a reason for favoring single sourcing? course hero

What is sustainable sourcing?

Why is the development of relationships with suppliers important?

What is a purchasing department?

What happens when a company is effectively focusing on its core competencies?

What is supply management?

What are the key activities of supply management?

Which company is most averse to sustainable business practices?

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Which of the following is a reason for Favouring single sourcing?

Single sourcing offers various benefits such as minimal variation in the quality of the product or service, better optimization of the supply chain, lower production costs, and creating better value for customers and stakeholders.

Which of the following is a typical consideration in favor of multiple sourcing?

Which of the following is a typical consideration in favor of multiple sourcing? If a supplier is unlikely to meet future requirements, the buying firm has several alternatives.

What are two advantages of the single source supplier strategy?

Benefits of Single SourcingLower pricing due to consolidation of all requirements with one supplier.More consistent quality.Lower purchasing workload due to communication with fewer suppliers.Easier to manage supplier performance because you are tracking fewer suppliers.More items...•

What is single sourcing approach?

Single-sourcing is the strategy of passing all purchase orders for a particular product to one supplier. By buying in bulk, consistently, from one single vendor, theoretically, a business can benefit from better costs, quality of service, quality of the product, and payment terms.

Why do companies prefer single sourcing instead of multiple sourcing?

Single sourcing, a powerful approach in a stable environment, can amplify a firm's exposure to risk (e.g., supplier's default) in the presence of uncertainty. Multiple sourcing, however, presents higher costs due to the management of more than one supplier.

When should a company follow a single sourcing strategy?

Single supplier strategy commits to purchasing a given resource from just one supplier. If the supplier is well-matched and reliable, this can offer some benefits to businesses. For example: forging a relationship is easier with one supplier than with multiple ones.

What are the uses of single sourcing?

Single-sourcing is the use of a single document to produce other forms of documents, such as manuals and online help. It allows one document to be used in different kinds of formats, thereby increasing the usability of the documentation.

What are the advantages of having a single supplier?

Building and maintaining a relationship with one supplier is easier than with two or more. Administrative and other costs are reduced when you place orders with just one supplier. You can maximize volume leverage to attain attractive pricing. It's easier to streamline and integrate systems with a single supplier.

Which is better single sourcing or multi-sourcing?

Single sourcing can increase a firm's exposure to risk (e.g., supplier's default), but, at the same time, multiple sourcing strategy presents greater initial and ongoing costs due to the need for managing more than one supplier.

How do you justify a single source?

In addition, the following information should incorporated into the sole source justification:A detailed explanation of how and why these "unique features" affect the function of the new item;Why an item without these functions and/or features are necessary for the use intended by the College;More items...

What is the meaning of single source procurement?

A Single Source procurement is one in which two or more vendors can supply the commodity, technology and/or perform the services required by an agency, but the State agency selects one vendor over the others for reasons such as expertise or previous experience with similar contracts.

What is single sourcing multiple sourcing?

In conclusion, single sourcing is a sourcing type that involves a single supplier while multiple sourcing is a sourcing type that involves two or more suppliers. There are many positive effects associated with both single sourcing and multi-sourcing, along with several particular risks that is worth considering.

What is the first step in the sourcing process?

Understanding The Famous 7 Step Strategic Sourcing ProcessStep 1: Profile The Category. ... Step 2: Supply Market Analysis. ... Step 3: Develop a Strategic Sourcing Strategy. ... Step 4: Select The Strategic Sourcing Process. ... Step 5: Negotiate with and Select Suppliers. ... Step 6: Implementation and Integration. ... Step 7: Benchmarking.

What is the strategic sourcing process?

Strategic sourcing is a procurement process that connects data collection, spend analysis, market research, negotiation, and contracting. It stops short of the actual purchase of and payment for goods and services.

Which of the following would be good reason to outsource buy versus making?

Which of the following would be a good reason to outsource (buy) versus make an item? A firm lacks the technology or expertise to produce an item.

What are the four types of products and services that are purchased with varying degrees of importance?

transactional procurement solutions. There are four types of products and services that are purchased with varying degrees of importance. are high-risk, low-value items and services such as engineered items, parts that are available from only a limited number of suppliers, or items that have a long lead time.

Supply Chain Exam 3 Flashcards | Quizlet

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Answer key answer key b question 3 of 10 the - Course Hero

Question 5 of 10 Demands by customers for companies to become more ethically and environmentally focused have placed added pressures on firms to improve their performance in supply chain management.! True False Answer Key: Answer Key: True

What is sustainable sourcing?

Sustainable sourcing is a process of purchasing goods and services that takes into account the short-term impact on people, profits, and the planet.

Why is the development of relationships with suppliers important?

The development of relationships with suppliers brings about changes that must be managed in order for a company to stay focused on their core businesses.

What is a purchasing department?

Purchasing departments can be seen as a primary designer and facilitator of important inward- and outward-facing sourcing policies.

What happens when a company is effectively focusing on its core competencies?

If a company is effectively focusing on its core competencies, its level of outsourcing is likely to increase.

What is supply management?

The term Supply Management is used to describe responsibilities above and beyond those of traditional purchasing.

What are the key activities of supply management?

Key activities of supply management include negotiations, logistics, contract development and administration, inventory control and management, and supplier management

Which company is most averse to sustainable business practices?

True or False. False. According to the textbook, Walmart is perhaps the company that is most averse to implementing sustainable business practices.

Why do companies seek help from their suppliers?

As firms seek to improve the products they offer to the market , companies are seeking help from their suppliers in new product design and development through

What is an accasion firm?

On accasion firms assist suppliers, new or old, to improve their processing capabilities, product or service quality, delivery effectiveness

Does the federal government have to comply with public procurement?

While most public procurement is focused on goals similar to those of purchasing departments in the private sector, U.S. federal government purchases must comply with the

Why should a company use a single supplier?

16.The possibility of events like strikes, assembly line breakdowns, and natural disasters are all reasons a company should favor using a single supplier.

Why do industrial supply chain members purchase their merchandise in volume?

5.Industrial supply chain member buyers purchase their merchandise in volume to take advantage of quantity discounts, transportation economy, and storage efficiency, and then they create value through services like consolidating merchandise or break bulking.

What is the goal of a good purchasing system?

6.The goal of a good purchasing system is to ensure efficient information transitions between the materials users, the purchasing personnel, and the suppliers.

Why are foreign suppliers located farther away?

20.​Foreign suppliers located farther away may be able to deliver goods faster than domestic suppliers due to more efficient transportation and logistical systems.

What is decentralized purchasing?

18.Decentralized purchasing is the practice where individual, local purchasing departments throughout a single corporation make their own, individual purchasing decisions to fulfill their individual local needs.

What are the key activities of supply management?

4.Key activities of supply management include negotiations, logistics, contract development and administration, inventory control and management, and supplier management.

Why do people buy things instead of making them?

15.​Reasons for buying items instead of making them can include cost advantage, insufficient capacity, lack of expertise, and quality.

Answer

The correct answer is letter "A": There could be supplier interruptions due to political instability.

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Ang bitud ay may dalawang ulo ay ang mga sumusunod1. Intelektuwal na Bitud• oymoy kinalomon solo• Tinatawag ito na gowing koolomon one of knowledge.• …

What is sustainable sourcing?

Sustainable sourcing is a process of purchasing goods and services that takes into account the short-term impact on people, profits, and the planet.

Why is the development of relationships with suppliers important?

The development of relationships with suppliers brings about changes that must be managed in order for a company to stay focused on their core businesses.

What is a purchasing department?

Purchasing departments can be seen as a primary designer and facilitator of important inward- and outward-facing sourcing policies.

What happens when a company is effectively focusing on its core competencies?

If a company is effectively focusing on its core competencies, its level of outsourcing is likely to increase.

What is supply management?

The term Supply Management is used to describe responsibilities above and beyond those of traditional purchasing.

What are the key activities of supply management?

Key activities of supply management include negotiations, logistics, contract development and administration, inventory control and management, and supplier management

Which company is most averse to sustainable business practices?

True or False. False. According to the textbook, Walmart is perhaps the company that is most averse to implementing sustainable business practices.