Task 7
Instructions: The following task is to be submitted to your teacher in one of the two ways described below.
After reading about Betty and Jessica and reviewing the Support Material complete the following task.
Question 1
Outline clearly and in your own words, the ways resources can be ordered cost-effectively. Give examples.
Question 2
Why should timelines be met? Give examples.
Question 3
What is meant by "a regular review of resource acquisition processes?
Question 4
How do these strategies impact on future acquisition processes? Give an example for each
Strategy
Impact Example 1. Cost Analysis
2. Supply Contracts
3. Technological Changes
Question 5
Go to Page 3 of the Support Material "Calculating when to Order Supplies". What is meant by the following terms?
a) optimum stock level b) lead time c) bulk discounts d) associated costs e) economic reorder point