Homework: Sales & Purchasing Management
The purchasing situation
An understanding of the buying situation is vital for both the purchasing (procuring) company and the supplier (selling company).
o Companies are simultaneously purchasing and selling
o Sales and purchasing activities are the links connecting businesses along the value chain
o The value received by the end user depends on the quality of all players (companies). It is, therefore, highly important to develop these relationships correctly and with the right players
Task
Case
Princess Yachts was established in 1965. Today Princess' shipyards cover an area of over 1.1 million square feet, an area rich in British maritime heritage. In fact, South Yard, where M Class superyachts are constructed, is a former naval yard dating back to the 17th century. From the outset, their goal has been to meticulously sculpt yachts around owners' enjoyment of them. Such dedication and attention to detail resonates deeply with their Plymouth craftsmen. Over 3,000 people, each possessing a mastery of their skill, fastidiously realise this vision in their shipyards. Through a culture of innovation, our yachts are not only some of the most technically-advanced in the world but also the most beautifully realised.
a) Using the company above, explain why effective purchasing is important for their business?
b) What is the concept of "adding value" to a business in terms of purchasing for the above company?
c) What are "make-decisions" and "buy decisions" and how would decisions about these points be made for this company?
d) What are the major benefits of sustainable purchasing/sourcing for the company?
e) Explain how modern technologies are helping purchasing processes and purchasing decisions in the above example?
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.