Business Finance Homework Help

SupplyChain 247: Please read the article “Top Challenges and Solutions for Optimizing Procurement & Inbound Supply Processes” at SupplyChain247.com. (You may need to register for this information.  There is no charge for this news source.)  This article can be found at the following link: https://www.supplychain247.com/article/top_challenges_and_solutions_for_optimizing_procurement_inbound_supply/procurement

Please read Chapter 2 and the article from the SupplyChain247 (SC247) before answering the questions below.  ————————————————————————

1. Discuss how a purchasing department can influence the financial performance of a large manufacturer or a large retailer (Please provide an example for an existing manufacturer or retailer).
2. For a growing number of manufacturers, the purchasing department is increasingly involved in purchasing secondary services and noncritical components.  Why is the role of purchasing expanding for so many organizations today?
3. The article in SC247 summarizes several methods for optimizing procurement and inbound supply management. Select two optimization methods discussed in the article and discuss how a manufacturer or retailer could use each method to gain a competitive advantage.
4. Please provide an insightful question about the materials assigned this week to share with the class.