Instructions:
After reading the required textbook and reviewing the lecture presentation complete the Study Question Assignment. A Study Questions document containing the questions is posted in the Assignments section, right above the Dropbox for the assignment. Download the document and complete the assignment.
Need answer to this question?
Order an original paper Now!
We’re giving you a 15% discount on your first Order.
Discount Code: SKILNEW15
Use the above discount code during checkout
Study Questions are graded, and highly recommended as practice in understanding concepts and calculations in this course. Study Questions submitted by midnight on the Sunday of the active session will be reviewed and detailed feedback provided by the professor. Answers to the Homework Assignments will not be posted to the course website or distributed to students who do not complete the assignment. Late Homework Assignments will be reviewed in the week they are received.
STUDENT NAME
- In your own words, define purchasing and procurement. Give an example of both.
- Pick a product you are familiar with. If you were the Procurement Manager for the company that manufactures this product, what components/raw materials would you consider developing strategic (long-term) relationships with the suppliers of those products? Explain why you picked those types of suppliers.
- Material Requirements Planning. In this problem set the parameters for planning will be adjusted. Complete each set of calculations and record the observations as requested.
- Complete the Material Requirements Planning grid below given the following information:
Beginning inventory = 2 units Lot Size = 50 units
Lead time = 1 period
| Period | ||||||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| Gross Requirements | 20 | 20 | 40 | 30 | 30 | 30 |
| Scheduled Receipts | 50 | |||||
| Projected Available Balance | ||||||
| Planned Order Receipt | ||||||
| Planned Order Release | ||||||
- Complete the Materials Requirements Planning grid below given the following information:
Beginning inventory = 2 units Lot Size = 100 units
Lead time = 1 period Safety Stock = 0 units
| Period | ||||||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| Gross Requirements | 20 | 20 | 40 | 30 | 30 | 30 |
| Scheduled Receipts | 50 | |||||
| Projected Available Balance | ||||||
| Planned Order Receipt | ||||||
| Planned Order Release | ||||||
- Complete the Materials Requirements Planning grid below given the following information:
Beginning inventory = 2 units Lot Size = 50 units
Lead time = 1 period Safety Stock = 15 units
| Period | ||||||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| Gross Requirements | 20 | 20 | 40 | 30 | 30 | 30 |
| Scheduled Receipts | 50 | |||||
| Projected Available Balance | ||||||
| Planned Order Receipt | ||||||
| Planned Order Release | ||||||
- After completing the adjustments made to the original plan in parts B and C. Which change impacted the plan the most?