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Procurement Management
1. Procurement Management is the sub-activity of operations management which is further sub-activity of supply chain management.
i. Justify the above statement.
ii. What are the various types of software’ s/system that you can use for procurement management, operation management and supply chain management? Give example of each.
Introduction
In a competitive world, multiple organizations hire multiple management systems to sort out their departments’ capable operatives. Procurement management is considered one such form of administration wherein products and services are obtained from various firms or companies. An entire company deals with this form of administration at a certain point in the life of their trades. It is in the path the procurement is sorting out and planning the procedure that will make sure an aspect runs effortlessly. But with many other administration methods to utilize, is there any specific cause to use this particular form of administration to obtain products and services? Admittedly, it is one of the often queries voiced regarding procurement management. It is named to assist a firm in saving a lot of spending money while buying products
2. What are the problems a company can face while not adopting VMI (Vendor manage inventory) strategies? Explain the benefits of VMI in avoiding the bullwhip effect.
Introduction
VMI is an acronym of the Vendor Managed Inventory. It is a supply chain system that substitutes your inventory for you with no having to initiate the buying order physically. Fundamentally, Vendor managed inventory is a companion that keeps your stock in the absolute productive and profitable path. The Vendor managed inventory focus at accomplishing the lesser price probable for both the seller and the producer. It is a directive that specifies that the seller is answerable for the inventory administration. At the same time, the name and deals are below
3. “Khari baoli” is a well known wholesale market in Delhi for entire Delhi retailers for spices. The entire market provides Trade-Credit (period of 3-4 months) with quantitative discounts to their retailers. Retailers are having small inventory carrying options but simultaneously don’t want to lose the gain obtained by these push marketing strategies.
a. Explain the role of study of quantity discount analysis while purchasing. Illustrate the method under given conditions.
b. How the trade credit and quantitative discount affects the economic order quantity of retailers. What are the factors that retailers must keep in mind while purchasing?
Introduction
In this article, we will discuss numerous aspects in detail. “Khari Baoli” is a reputed and familiar wholesale marketplace in Delhi for whole Delhi retailers for interests. An entire market offers Trade-Credit (three-four months) with quantity money off to their retailers. However, retailers possess minimum inventory bringing choices but concurrently never wish to mislay the growth got by these thrust marketing tactics. We will discuss everything related to quality discounts and its few roles. A quality discount is an inducement provided to a purchaser that consequences at a reduced price per unit of products or materials while buying in great Dear students, get fully solved assignments by professionals
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