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Author Question: The business purchasing process is often more complex than most consumer purchasing processes. In ... (Read 166 times)

WhattoUnderstand

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on: Jul 7, 2018
The business purchasing process is often more complex than most consumer purchasing processes. In about 100 words, outline the differences between a typical consumer purchase and a business purchase.

Question 2

In one or two paragraphs, explain the differences between an industry value chain and a strategic business units supply chain.


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macmac

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Reply #1 on: Jul 7, 2018
Answer to Question 1

The business purchasing process is usually much more complex than most consumer purchasing processes and involves the following steps:


  • Identify needs

  • Review vendor catalogs, Web pages, or databases

  • Define requirements

  • Send requests for quotes (RFQs)

  • Review quotes and select vendor

  • Approve purchase

  • Establish credit with vendor

  • Create purchase order

  • Send purchase order to vendor

  • Check availability and confirm purchase order

  • Arrange shipping

  • Perform inspections

  • Fulfill and ship order

  • Inspect shipment and process receiving documents

  • Transfer from Receiving Department to materials storage

  • Check receiving documents against invoice and purchase order


Record transaction in accounting records

Answer to Question 2

The part of an industry value chain that precedes a particular strategic business unit is called that business units supply chain. A companys supply chain for a particular product or service includes all the activities undertaken by every predecessor in the value chain to design, produce, promote, market, deliver, and support each individual component of that product or service. For example, the supply chain of an automobile manufacturer includes every activity undertaken by each individual component supplier, including engine manufacturers, steel fabricators, glass manufacturers, wiring harness assemblers, and thousands of others.


WhattoUnderstand

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Reply #2 on: Jul 7, 2018
Correct answers!


macmac

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Reply #3 on: Jul 7, 2018
Great! Please up vote :D


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