Question

What is meant by "Cost/Price, Quality, Delivery, Responsiveness and Flexibility, Technology , and Total cost of...

What is meant by "Cost/Price, Quality, Delivery, Responsiveness and Flexibility, Technology , and Total cost of Ownership" in Supplier Performance Metric. How are they important in Creating and Managing Supplier Relationship?

Homework Answers

Answer #1

The given entities like Cost/Price, Quality, Delivery, etc. are the metrices over which the performance of the suppliers can be evaluated. The companies get biddings from various suppliers. Based on the past performance data of the suppliers, which is nothing but a combination of the above mentioned data, the companies make a choice about the supplier.

These metrices facilitate both creation as well as management of supplier relationship with the business:

  • Based on these metrices, companies make a selection of the supplier and thus facilitates the creation of supplier relationship with business
  • Every supplier has a limited contract with the company. AT the end of the contract, the performance metrices are reviewed to renegotiate another deal with the supplier.
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is meant by the Total Fixed Cost of production?
What is meant by the Total Fixed Cost of production?
Suppose you are given the following table: Output Price Total Cost Total Revenue Marginal Revenue Marginal...
Suppose you are given the following table: Output Price Total Cost Total Revenue Marginal Revenue Marginal Cost Average Total Cost Profit/ Loss (P-ATC) 0 150 100 1 138 150 2 125 184 3 113 208 4 100 227 5 88 250 6 75 280 7 63 318 8 50 366 9 38 425 10 25 500 a. Determine the optimum /profit maximizing point using the MR-MC Principle b. At this point, what are the total profits? c. Calculate (Price -...
Data: Cost structure alternative 1 Cost structure alternative 2 Delivery price per package delivered $75 $75...
Data: Cost structure alternative 1 Cost structure alternative 2 Delivery price per package delivered $75 $75 Variable cost per package delivered $54 $24 Fixed costs (per year) $605,000 $2,489,302 Case A Requirements Provide a written report to address the following questions. This report will be presented to the client, so it should be written professionally. Your report should show your calculations. One issue of interest to your client is the volume of business (on an annual basis) needed for her...
What are the characteristics of a competitive market? What is the relationship of price to average...
What are the characteristics of a competitive market? What is the relationship of price to average total cost in a competitive market in the short run and the long run? Define “price taker”. What is meant by entry and exit of firms and what does it mean for profitability in the short run and long run? What is a “natural” monopoly? How is that different from a “government created” monopoly? What is the role of regulation in monopolistic markets? How...
Assume that a competitive firm has the total cost function: TC=1q3−40q2+710q+1700TC= Suppose the price of the...
Assume that a competitive firm has the total cost function: TC=1q3−40q2+710q+1700TC= Suppose the price of the firm's output (sold in integer units) is $550 per unit. By creating tables (but not using calculus) with columns representing cost, revenue, and profit to find a solution, what is the total profit at the optimal output level? Please specify your answer as an integer
Price Quantity Demanded Total Fixed Cost Total Variable Cost Total Revenue Total Cost Marginal Revenue Marginal...
Price Quantity Demanded Total Fixed Cost Total Variable Cost Total Revenue Total Cost Marginal Revenue Marginal Cost $50 0 $8 $0 (C) (H)   45 1 8 20 (D) (I) (L) (R)   40 2 (A) 30 (E) (J) (M) (S)   35 3 8 55 105 63 (N) (T)   30 4 8 (B) (F) 93 (P) (U)   25 5 8 125 (G) (K) (Q) (V) Refer to Exhibit 24-4.  What dollar amounts go in blanks (P), (Q), (R), and (S), respectively? Refer to...
Complete the following cost and revenue schedule: Price Quantity Demanded Total Revenue Marginal Revenue Total Cost...
Complete the following cost and revenue schedule: Price Quantity Demanded Total Revenue Marginal Revenue Total Cost Marginal Cost Average Total Cost 20 0 8 18 1 14 16 2 22 14 3 32 12 4 44 10 5 58 8 6 74 6 7 92 4 8 112 2 9 147 a. Graph the demand, MR, and MC curves. b. At what rate of output are profits maximized within this range? c. What are the values of MR and MC...
For this activity, you must apply formulas for total variable cost, average variable cost, average total...
For this activity, you must apply formulas for total variable cost, average variable cost, average total cost, and marginal cost, and use these computations to determine maximum profit A firm’s cost curves are given in the following table: Q TC TFC TVC AVC ATC MC 0 100 100 1 155 100 2 195 100 3 215 100 4 245 100 5 300 100 6 360 100 7 435 100 8 515 100 9 605 100 a) Complete the table. b)...
How would you respond to this post? To build quality into the products, it is important...
How would you respond to this post? To build quality into the products, it is important to know the customers and their desires. A company that is customer-focused and working with customers to improve a good or service will help provide a better-quality result. Ambruch (2013) states, “As consumer demand continues to evolve, manufacturers are being pressured to respond with increasing customer choice” (para. 9). Customers are looking for personalization to their products. Having customers provide feedback can help manufacturers...
Q1. A question related to cost control (without jeopardizing quality): What can the purchasing manager of...
Q1. A question related to cost control (without jeopardizing quality): What can the purchasing manager of an organization do to control costs of raw materials? And the production manager? Or is this cost control strategy company wide? What are some management tools that we can use to encourage everyone to think lean yet maintain quality? Examples: Quality circles, TQM, continuous process improvement, JIT, participative leadership styles, and so forth. Let's think outside of the box! Q2. When pricing products or...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT