Know what six sigma requires in terms of production process variance.2) Know what “strategic…

Know what six sigma requires in terms of production process variance.
2) Know what “strategic alignment” signifies.
3) Know the three most popular types of discounts.
4) Know the meaning of the term “concession.”
5) Know the two types of cost components of price determination.
6) Know the two main categories of supplier evaluations.
7) Know the definition of power.
8) Know the meaning of the term “negotiation.”
9) Know the meaning of the term “mediated power.”
10) Know the four parts of a purchasing department’s main objective.
11) Be able to identify the elements of the four cell purchasing development process, includingthe elements of the x and y axis, the four types of commodities and where they belong on eachaxis, and the type of strategy used for each type of commodity. (Can be found in annotatedPower Points only)
12) Be able to discuss five of the eleven negotiating tactics.
13) Be able to discuss the benefits of supplier partnerships.
14) Be able to discuss the conditions under which a competitive bidding process should beemployed.