Assignment

 7.3 EOM Review

Answer the following:

1. What are the responsibility evaluation factors for awarding a contract to a contractor for critical parts for new Just-In-Time production system? Support your answer by first defining the Just-in-Time system.
2. Many companies use purchasing, procurement, and contracting interchangeably. In the Department of Defense acquisition management is the same as contracting. What is the difference between procurement and purchasing?
3. The ABC Classification Method is one of the three inventory classification systems. The other two are First-in, First-Out (FIFO) and Last-in, First- Out (LIFO). How would you describe the ABC classification system, describe inventory security using this method, and critique ways to improve your ABC inventory classification system?
4. What are the major factors to consider for a new facility location decision?
5. How does the characteristics of the product influence packaging, packing, and handling requirements?

Answer the questions in a MS Word document and submit.