>Chapter 11 is titled “Strategic Cost Management” and includes the following topics:
The impact of cost management on the supply chain
Fundamental approaches to price management
Reducing supplier costs of production and delivery
- The concept of the total cost of ownership or (TCO)
- Collaborative approaches to cost management
- >ISM Manufacturing PMI (September 2021): PMI September 2021.pdf Download PMI September 2021.pdf
- Many organizations and investors use the Purchasing Manager’s Index (PMI) to indicate the economy’s health and/or their industry.
- >INVESTOPEDIA provides a brief overview of the PMI at the following link on YouTube: https://www.youtube.com/watch?v=2uEIJSp0By4 (Links to an external site.)
Please review the assigned materials before answering the questions below:
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Based on the PMI, please summarize the manufacturing sector’s outlook in the United States (1-2 paragraphs). Which sectors are likely to do best in 2022? Why?
Based on overall inventory expectations reported in the PMI for the United States, is the total cost of ownership likely to increase or decrease for suppliers and manufacturers? Why?
Based on the September 2021 Manufacturing PMI report, how can collaborative cost management of inventory for manufacturers in the United States be managed over the next year?
Please provide an insightful question about the PMI or Strategic Cost Management.
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