SCM 371 HW 2

Normally, most organizational objectives can be summarized as

survival, growth, financial, and sustainability.

A zero defects quality strategy emphasizes

do it right the first time.

When developing supply strategies, the supply manager must determine:

what to make or buy, when to buy, how much to buy and how it should be ordered.

When developing strategies related to "how to buy," decisions must be made about:

systems and processes.

Supply strategies that are designed to anticipate and recognize shifts in the economy, organization, people, legal, government regulations and controls, and technologies are:

environmental change strategies.

Three major challenges facing supply executives when setting supply strategies and objectives are:

(1) What is the effective interpretation of corporate objectives and supply objectives? (2) What is the appropriate action plan or strategy to achieve the desired objectives? and, (3) How can supply issues be identified and integrated into organizational

A strategy is:

an action plan to achieve specific long-term goals and objectives.

When a supply-related risk exists, the supply management team should:

identify and classify risks, assess possible impact, develop a mitigation strategy, inform the chief supply officer, await instructions, and implement the directive.