To Do: Read the following scenario and prepare the structured tables The basic procurement process in ABC company starts with the warehouse realizing that they need more materials and then they create a purchase requisition and send it to purchasing. Purchasing approves the purchase requisition and creates a purchase order and ships it to the supplier. The supplier then sends the goods to the warehouse, which receives the packing list and creates the good receipt document upon receipt of the goods. The warehouse sends the good receipt document to accounting. The accounting department shortly thereafter receives the invoice and matches it with the goods receipt and purchase order. If the invoice matches up correctly the accounting department sends the payment to the supplier. Exercise

To Do: Read the following scenario and prepare the structured tables The basic procurement process in ABC company starts with the warehouse realizing that they need more materials and then they create a purchase requisition and send it to purchasing. Purchasing approves the purchase requisition and creates a purchase order and ships it to the supplier. The supplier then sends the goods to the warehouse, which receives the packing list and creates the good receipt document upon receipt of the goods. The warehouse sends the good receipt document to accounting. The accounting department shortly thereafter receives the invoice and matches it with the goods receipt and purchase order. If the invoice matches up correctly the accounting department sends the payment to the supplier. Exercise

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

ChapterC: Cases

Section: Chapter Questions

Problem 5.1SC: Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing...

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Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?
Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
Identify the concepts and their corresponding description, obtained from the survey of a construction company: In the context of a construction company, it is required to maintain the organization of different works that the company carries out. Our client is in the habit of organizing a set of tasks into what is called a batch. Items are used as units of work intermediate level, to which a limited amount of material can be assigned to fulfill the tasks that compose them. It is necessary to distinguish the suppliers and the prices of each material, even if there is only one supplier for each material. Although rare, tasks can have an associated machine; but generally, they have more than one. The machines are not related to the work other than by the tasks and the items; and only operators with category “A” can operate them. All workers are paid according to their category and the hours worked, regardless of the work. ➢ Carry out the definition of the types of objects found. ➢ Develop…
Inventory Management You are the store manager at a local branch of DigiLife, a large electronics retail chain. A new version of a popular consumer electronics device called the Amulet is coming out this year. It is your job to sell as many Amulets as you can while minimizing your costs in order to maximize your store's profits. Your Goal Earn $1,000,000 in net profits of Amulet sales.
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The purchasing department is responsiblefor procuring raw materials and other resources at the best possibleprice. In relation to the above, and with the aid of examples, discuss thefunctions of the purchasing management.
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If Exxon uses FIFO for its inventory valuation, calculate the cost of ending inventory and cost of goods sold if ending inventory is 110 barrels of crude oil. Beginning inventory and purchases Barrels Barrel cost Total cost Beginning inventory: Jan 1 129 $ 96 $ 12,384 March 1 54 102 5,508 June 1 69 99 6,831 September 1 79 91 7,189 December 1 54 104 5,616 385 $ 37,528 Cost of ending inventory Cost of goods sold
Problem 20-10 (Algo) You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day’s paper for $0.50 a copy. You sell a copy of San Pedro Times for $1.25. Daily demand is distributed normally with mean = 335 and standard deviation = 67. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. a. How many copies of San Pedro Times should you buy each morning? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Round your z-value to 2 decimal places and final answer to to 2 decimal places.) b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.)
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