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BUS 163
It is easy to develop common ground in the negotiation without knowing what the other party is seeking. a. True b. False Which of the following is not one of the usual roles of an international purchasing office (IPO)? a. […]
BUS 171 Quiz
Which of the following is not one of the wrong reasons for investing in inventory? a. Poor quality and material yield. b. Extended order-cycle times from global sourcing. c. Hedge against marketplace uncertainty. d. Specifying custom items for standard applications. […]
BUS 203
According to Cialdini, _____ is a principle that says we prefer to be consistent in our beliefs and actions. a. scarcity b. liking c. social proof d. reciprocation e. consistency Supplier rationalization and optimization should be a one-time activity. a. […]
BUS 265 Test 1
Pursuing supplier development activities directly with suppliers is both quick and easy. a. True b. False _____ involves contracting with independent suppliers outside the organization (domestic or foreign) to provide products or services that were performed inside the organization. a. […]
BUS 370 Quiz
The _____ clause of a contract specifies conditions regarding who own any IP rights that comes out of the agreement, and who owns what IP going into the agreement. a. liability b. confidentiality c. intellectual property d. technology improvements e. […]
BUS 519 Test 2
The laws of contracts are concerned with governing the relationship of principals and agents. a. True b. False _____ involves the buyer seeking a court order forcing the seller to deliver the goods. a. Arbitration b. Specific performance c. An […]
BUS 520 Midterm 2
Which of the following is not one of Demings 14 points? a. Encourage education and self-improvement. b. Take action. c. Institute leadership. d. Optimize the efforts of teams. e. Utilize numerical quotas and measurement by objective to motivate management. _____ […]
BUS 526 Midterm 1
_____ refers to the relationship between planned and actual sacrifices made to realize a previously agreed-upon goal. a. Strategic benchmarking b. Effectiveness c. Efficiency d. Operational benchmarking e. None of the above. If the requested item is complex or requires […]
BUS 545 Homework
In some cases, a firm may be looking to develop a long-term relationship with a potential supplier, particularly if the supplier is in the Routine quadrant of the Strategy Portfolio Matrix and the category of spend is low volume and […]
BUS 612 Final
Historically, expenditures for indirect materials and services have received the same level of management attention as have direct materials. a. True b. False _____ mean(s) that no duties or quota charges will be placed on goods that are reexported from […]
BUS 662 Homework
_____ is the avoidance of nonconformance in products and services by not allowing errors or defects to occur in the first place. a. Detection b. Inspection c. Prevention d. The hidden factory e. Optimization Experienced negotiators do not need to […]
BUS 811 Test 1
Unless the parties specify differently, the term FOB delineates the point at which the supplier is responsible for freight charges and where the purchaser assumes title to the shipment. a. True b. False In collaborative relationships, buyers and suppliers can […]
BUS 881 Final Very few
Very few organizations use distributors to provide at least some portion of their inventory requirements, particularly maintenance, repair, and operating supplies. a. True b. False All of the following are phases in the benchmarking process except _____. a. planning b. […]
BUS 887 Test 2
A/An _____ is a set of promises between two or more parties the performance of which the law expects, the breach of which the law provides remedies. a. offer b. agreement c. acceptance d. contract e. breach Most of the […]
Business 255 Test
A/An _____ occurs in situations in which a buyer is allowed to automatically discount the published purchase price by a negotiated percentage for all purchases from a given price list or catalog during the contract period. a. pricing agreement b. […]
Business 268 Midterm
Currently, vendors specializing in CRM and SRM systems tend to provide lower levels of functionality in their chosen areas than do ERP vendors. a. True b. False Big data combined with the capabilities of analytical tools combined with high talent […]
Business 281 Midterm
A buying firm frequently wants the seller to become more dependent on its business. a. True b. False Project scopes should be very detailed for all service providers, including those who have previously performed work for the organization. a. True […]
Business 384 _____ are those that
_____ are those that result if the terms of the contract are not fulfilled and must be defined prior to the breach under the terms of the contract. a. Consequential damages b. General damages c. Incidental damages d. Reliance damages […]
Business 403 Quiz 1
In a PERT network, a/an _____ is the latest time an activity can finish without delaying the entire project. a. late start b. late finish c. on time finish d. early start e. late start Purchasers impact price at the […]
Business 478 Quiz
A primary objective of using teams is to bring together individuals with common perspectives and expertise to perform better on a task compared to individuals or departments acting along. a. True b. False E-negotiators generally ask more questions and tend […]
Business 608 Midterm 2
Ordering costs are a composite of the costs associated with the release of a material order. a. True b. False A/An _____ system takes a period-by-period set of master production schedule requirements (anticipated or booked customer orders) and produces a […]
Business 720 Midterm
_____ inventory is in transit to a customer or is located throughout distribution channels. a. Pipeline/in-transi b. MRO c. WIP d. Raw materials and semifinished items e. Just-in-time An emphasis on finished product rather than process demands that a supplier […]
Business 762 Test 1
Air carriers haul the most amount of commercial freight because of their inherent speed advantages. a. True b. False A supplier can draw against the letter of credit upon presentation of the required documents. a. True b. False Answer: True […]
Business 784 Quiz 3
Which of the following is a disadvantage of a categorical supplier evaluation system? a. Least reliable. b. Cost accounting system required. c. Less frequent generation of evaluations. d. Most subjective. e. Usually manual. The most common price performance measures include […]
Business 818 Quiz 1
_____ is a broad term that refers to all international and domestic trade where buyer and seller have at least a partial exchange of goods for goods. a. Six Sigma b. Countertrade c. Re-shoring d. IPO e. CISG Identification of […]
Business 821 Test 2
The dangers of poor execution of supply chain processes include increased lead and cycle times, higher costs, and less-informed decision making. a. True b. False The value of money spent any time in the future does not depend on the […]
Business 839
A good rule of thumb is to remember that purchasers must always act in the best interests of their employer. a. True b. False Exempt carriers are highly regulated economically by the Surface Transportation Board. a. True b. False Answer: […]
Chapter 1 Most of the features that make their way into final
Chapter 1 — Introduction to Purchasing and Supply Chain Management True / False 1. The development of strategic purchasing practices can only help a company maintain its competitive position in a rapidly changing business environment. a. True b. False ANSWER: […]
Chapter 10 Offset Compensation Trading Switch Trading Buyback
Chapter 10 — Worldwide Sourcing Cengage Learning Testing, Powered by Cognero Page 12 51. Which of the following is not an example of cost differentials that arise between countries? a. Lower labor rates. b. Fewer documentation requirements. c. Possible willingness […]
Chapter 10 Trade shows are often one of the worst ways to gather
Chapter 10 — Worldwide Sourcing True / False 1. In supply management, the cost/price benefits associated with sourcing in developing countries are an insignificant motivation for remaining competitive in an increasingly global environment. a. True b. False ANSWER: False DIFFICULTY: […]
Chapter 11 All of the following are opportunities for supplier cost reductions
Chapter 11 — Strategic Cost Management 50. In the _____, the supplier analyzes the market to find the combination of price per unit and quantity of sales that maximizes its profit on the assumption that (1) lowering the price per […]
Chapter 11 In many cases, the price charged by a seller
Chapter 11 — Strategic Cost Management 1. The price paid for purchased products and services has no direct impact on the end customer’s perception of value provided by the organization. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: […]
Chapter 12 The work force factor of the learning curve refers
Chapter 12 — Purchasing and Supply Chain Analysis: Tools and Techniques 1. Projects have certain characteristics that make them unique compared with other forms of work. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding OTHER: Analytic NOTES: […]
Chapter 13 A negotiator can automatically assume that
Chapter 13 — Negotiation and Conflict Management 1. Everyone negotiates something every day. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding OTHER: Analytic NOTES: 1 2. Negotiation is a simple skill that applies to only a few […]
Chapter 13 The area of overlapping positions among issues
Chapter 13 — Negotiation and Conflict Management Cengage Learning Testing, Powered by Cognero Page 14 59. Step 3 of Triangle Talk is _____. a. apply tactics to win the negotiation b. know exactly what you want c. use power to […]
Chapter 14 In a firm fixed price contract, if market prices
Chapter 14 — Contract Management b. liability c. third-party rights d. confidentiality e. intellectual property ANSWER: d DIFFICULTY: Easy KEYWORDS: Bloom’s: Remembering OTHER: Analytic NOTES: 1 62. The _____ clause in a contract provides guidelines regarding what type of reporting […]
Chapter 14 It is always a good idea to double-check all attachments
Chapter 14 — Contract Management 1. In global commerce, people assume that the terms of one market are acceptable in another and do not recognize cultural or legal landmines. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding […]
Chapter 15 Cancellation for convenience of the seller
Chapter 15 — Purchasing Law and Ethics Cengage Learning Testing, Powered by Cognero Page 15 63. _____ refers the standard terms and conditions that are usually preprinted on the back of forms used by the purchaser (and the seller). a. […]
Chapter 15 The use of force or coercion to reach an agreement is acceptable in
Chapter 15 — Purchasing Law and Ethics 1. Purchasing activities are concerned with the laws regarding contracts and the laws regarding agency, the majority of which concern contract laws. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding […]
Chapter 16 When Firms Produce Goods Anticipation Future
Chapter 16 — Lean Supply Chain Management 1. According to Shook, lean is a philosophy that seeks to shorten the time between when the customer order and the shipment to the customer by eliminating waste. a. True b. False ANSWER: […]
Chapter 17 All of the following are criteria used to measure
Chapter 17 — Purchasing Services DIFFICULTY: Easy KEYWORDS: Bloom’s: Remembering OTHER: Analytic NOTES: 1 61. Which of the following is not one of the common examples of indirect spend? a. Professional and consulting services. b. Employee benefits. c. Travel. d. […]
Chapter 17 An apparently low-cost carrier may actually
Chapter 17 — Purchasing Services 1. Virtually all of indirect spend is normally purchased throughthe organization’s formal sourcing function or using well- established supply management processes. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding OTHER: Analytic NOTES: […]
Chapter 18 Users must be able to extract from databases the information
Chapter 18 — Supply Chain Information Systems and Electronic Sourcing 1. On the buying side, organizations are becoming much more focused and sophisticated in making decisions involving investments in e-SCM systems. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: […]
Chapter 19 Actual prices for similar items should not be compared
Chapter 19 — Performance Measurement and Evaluation True / False 1. Although this sounds difficult, it is often easy to develop measures that direct behavior or activity exactly as intended. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: […]
Chapter 2 Purchase Order purchase Agreement Blanket Purchase Order escape
Chapter 2 — The Purchasing Process ANSWER: a DIFFICULTY: Easy KEYWORDS: Bloom’s: Remembering OTHER: Analytic NOTES: 3 46. Which of the following is not one of the common ways that internal customers should communicate their needs to purchasing? a. Purchase […]
Chapter 2 When Situation Arises When Internal Customer
Chapter 2 — The Purchasing Process True / False 1. Enterprises are relying increasingly on external suppliers to provide only materials and products, not information technology, services, and design activities. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: […]
Chapter 20 Wall Street recognizes and rewards firms that achieve higher return
Chapter 20 — Purchasing and Supply Strategy Trends 1. Overall, future purchasing and supply mission and goals will be narrower and less aligned with the strategic objectives of the firm. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: […]
Chapter 3 Purchasing Policy And Procedures notes 218
Chapter 3 — Purchasing Policy and Procedures 1. Although policies are usually documented in writing, unwritten or informal policies can also exist. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: Bloom’s: Remembering OTHER: Analytic NOTES: 1 2. Once written, […]
Chapter 4 The need for confidentiality regarding financial
Chapter 4 — Supply Management Integration for Competitive Advantage True / False 1. Purchasing offices were once corporate backwaters, filled with people who didn’t dream of advancing to the top rungs of their organization. a. True b. False ANSWER: True […]
Chapter 5 Total Purchase Dollar Expenditurese The Overall Philosophy
Chapter 5 — Purchasing and Supply Management Organization True / False 1. Center-led organizations have the same total authority that purely centralized units do. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding OTHER: Analytic NOTES: 2 2. […]
Chapter 6 Nuisance Segment Core Segment Exploit Segment Develop
Chapter 6 — Category Strategy Development OTHER: Analytic NOTES: 3 47. Which of the following is not one of the examples of Porter’s threat of substitute products and services? a. Relative performance of substitutes. b. Relative price of substitutes. c. […]
Chapter 6 The Final And Most Advanced Stage
Chapter 6 — Category Strategy Development True / False 1. Increasing revenues involves either raising prices or keeping prices stable and increasing volume. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding OTHER: Analytic NOTES: 1 2. In […]
Chapter 7 Local suppliers are less responsive to the buying
Chapter 7 — Supplier Evaluation and Selection True / False 1. Most purchasing experts will agree that there is only one best way to evaluate and select suppliers. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding OTHER: […]
Chapter 8 Difficulty Easy Keywords Blooms Understanding Other Analytic
Chapter 8 — Supplier Quality Management True / False 1. In recent years, the concept of quality has changed radically from meeting customer requirements or expectations to exceeding them. a. True b. False ANSWER: True DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding […]
Chapter 8 Fear-free organizations are very common as only takes a short
Chapter 8 — Supplier Quality Management DIFFICULTY: Easy KEYWORDS: Bloom’s: Remembering OTHER: Analytic NOTES: 3 57. Which of the following is one of the dimensions used in developing a clear understanding of the buyer’s expectations and requirements? a. The ability […]
Chapter 9 During the early phases of supply base rationalization
Chapter 9 — Supplier Management and Development: Creating a World-Class Supply Base 1. Supplier performance that is sufficient today should be competitive in the marketplace of tomorrow. a. True b. False ANSWER: False DIFFICULTY: Easy KEYWORDS: Bloom’s: Understanding OTHER: Analytic […]
Chapter 9 The Requires Suppliers Successfully Navigate
Chapter 9 — Supplier Management and Development: Creating a World-Class Supply Base 50. Which of the following is a disadvantage of a weighted-point supplier evaluation system? a. Tends to focus on unit price. b. Most complex, so implementation costs are […]
GP 121
There is only one common approach to supply base rationalization and optimization. a. True b. False The complexity and value of a required purchase does not influence the extent to which a buyer evaluates potential supply sources. a. True b. […]
GP 181 Quiz
Which of the following is a disadvantage of a cost-based supplier evaluation system? a. Least reliable. b. Most complex so implementation costs are high. c. Less frequent generation of evaluations. d. Most subjective. e. Tends to focus on unit price. […]
GP 198 Final _____ relates to a
_____ relates to a commercial purchase transaction between a buyer and a supplier located in different countries. a. International purchasing b. Re-shoring c. Global sourcing d. Nearshoring e. None of the above. On _____, the freight bill is presented on […]
GP 317 Test
Which of the following is not one of the network rules for PERT/CPM? a. Networks start and finish at multiple events. b. Identify each unique activity within a project by a capital letter that corresponds only to that activity. c. […]
GP 436 Test 2
_____ inventory includes the items purchased from suppliers or produced internally to directly support production requirements. a. Work-in-process b. Finished-goods c. MRO suppliers d. Pipeline/in-transit e. Raw material and semifinished items All of the following are categories of inventory except […]
GP 469 Test 2
For companies that routinely use or produce hazardous materials, the law requires a policy that outlines in detail the legal requirements and conditions for the handling of toxic waste.a. True b. False A process that is stable and in control […]
GP 501
A win-lose negotiation approach works best for items or services that are important to the buyers products or business or when the item involves high-dollar items or services where cost control is critical. a. True b. False A _____ refers […]
GP 664 Test
If WIP builds up at a workstation, a scheduler should not have to reroute the flow of material to another work center. a. True b. False Which of the following is not an item or product that is an appropriate […]
GP 689 Midterm 2
Shipping a high-priced component via air is never a cost-effective option. a. True b. False Few measures drive behavior that is not what is intended or needed. a. True b. False Answer: False In its most basic form, a _____ […]
GP 699 Test 1
Competition today is no longer between firms; it is between the supply chains of those firms. a. True b. False _____ refers to the process of comparing supplier prices against external price benchmarks, without direct knowledge of the suppliers costs. […]
GP 731 Quiz 2
In recent years, the concept of quality has changed radically from meeting customer requirements or expectations to exceeding them. a. True b. False Which of the following is not a common organizational mechanism to enable center-led organization design? a. Lead […]
GP 811 Test 1
If the purpose of buying currency contracts is to realize a net gain, then the purchaser is _____ and not _____. a. hedging¦.speculating b. speculating¦.hedging c. speculating¦.financing d. hedging¦.financing e. Purchasers do not get involved in managing currency fluctuation as […]
GP 835 Midterm
Supply managers should emphasize purchasing efficiency over purchasing effectiveness as a strict measure of performance. a. True b. False Which of the following is one of the reasons for measuring performance? a. Support better decision making. b. Support better communication. […]
GP 856 Test
_____ is a negotiation tactic that involves taking an abnormally high initial position on an issue. a. Low ball b. High ball c. Best and final offer d. Curve ball e. Knuckleball In supplier evaluation, different aspects of _____ include […]
GP 873 Test 2
Trade shows are seldom an ineffective way to gain exposure to a large number of suppliers at one time. a. True b. False According to Porter, a firms value chain is composed of primary and support activities that can lead […]
GSM 113 Test
A _____ is defined as a purchase that is made on a nonrecurring or limited basis with little or no attention of developed an ongoing relationship with the supplier. a. purchasing alliance b. long-term contract c. short-term contract d. spot […]
GSM 160 Test
The _____ buys from the OEM and resells, therefore incurring a transaction cost, and it must make a profit. a. vendo b. customer c. preferred supplier d. single source supplier e. distributor Using a traditional pricing approach, the selling price […]
GSM 434 Quiz 2
The effectiveness of the sourcing team leader is one of the weakest predictors of team success. a. True b. False The supplier performance index (SPI) equals (_____ plus _____) divided by _____. a. Total Purchases¦.Nonperformance Costs¦.Total Purchases b. Nonperformance Costs¦.Total […]
GSM 477 Midterm 1
The whole point of collecting _____ is to understand the prevailing market conditions and the ability of current or potential new suppliers to deliver the product or service effectively. a. customer data b. secondary data c. internal data d. spend […]
GSM 594 Quiz 2
_____ focus on achieving standardization of components, systems, and services and application of currently used purchased items or the use of industry-standard versus unique items. a. First insight measures b. Standardization measures c. Responsiveness measures d. Cycle time reduction measures […]
GSM 762
The emphasis of the _____ is on obtaining sufficient current revenue to pay for operating cost rather than on profit. a. price volume model b. promotional pricing model c. revenue pricing model d. market skimming model e. competition pricing model […]
GSM 782 Which of the following is
Which of the following is not one of the eight key principles of total quality management? a. Strive for zero defects. b. Define quality in terms of customers and their requirements. c. Focus on output rather than process. d. Make […]
GSM 805 Midterm
Participation on a team may present a personal risk and create conflict once members realize that supporting a team takes time away from activities that are recognized and rewarded. a. True b. False _____ is defined as the process by […]
GSM 811 Quiz 3
Which of the following is not an example of cost differentials that arise between countries? a. Lower labor rates. b. Fewer documentation requirements. c. Possible willingness to accept a lower profit margin. d. Exchange rate differences. e. Government subsidies. There […]
GSM 896
The most basic and the easiest inventory-related cost to quantify and track is unit cost. a. True b. False The objective of supplier certification is to ensure that nonconforming items are not created or do not leave a suppliers facility. […]
MG 128 Midterm
The greatest competition between domestic transportation modes involves rail and motor carriers. a. True b. False Policies defining the role of purchasing often serve as a general or broad policy statement from which more detailed or specific policies evolve. a. […]
MG 220 Quiz 2
The _____ clause of a contract identifies any free trade issues and benefits, and how to share the benefits. a. assignment and contracting b. free trade areas c. key performance indicators and compensation d. payment e. scope of agreement A […]
MG 226 Quiz 3
_____ is a negotiation tactic that involves not immediately responding when the other party makes an offer in the hope that an awkward silence will encourage further offers or concessions from the other party. a. Trial balloon b. Silence c. […]
MG 281 Midterm 1
Buyers can minimize supply disruption risk from a single suppler by selecting a supplier with multiple production facilities. a. True b. False In organizations where new product development occurs at the divisional or business unit level, a centralized purchasing structure […]
MG 381 Final
It is a common and preferred current practice for suppliers to arrange shipment to a purchaser and simply include the transportation cost as part of the purchase cost. a. True b. False _____ involves contracting with independent suppliers located outside […]
MG 581 Midterm 2
_____ can be defined as how easy the professional service provider is to do business with. a. Wavelength b. Collaboration c. Cooperation d. Preference e. None of the above. A negotiator can automatically assume that the other party thinks the […]
MG 765 Test 2
All of the following are important factors to consider when negotiating with a supplier over contract type except _____. a. component market uncertainty b. degree of trust between buyer and seller c. process or technology uncertainty d. suppliers ability to […]
MG 815 Quiz 1
_____ includes movement and handling of materials between production facilities within the same organization as well as movement into and out of intermediary storage facilities. a. Inbound logistics b. Recovery c. Outbound logistics d. Intraorganizational movement e. Recycling A carefully […]
MG 835
The purchasing cycle begins with identifying (or anticipating) a specific need or requirement for a part component, raw material, subassembly, service, piece of equipment, or finished good to be sourced to conduct or support organizational operations. a. True b. False […]
MG 860 Quiz
Because of the huge quantities involved, deciding on the use of pipeline is rarely something a buyer needs to consider. a. True b. False A/An _____ demonstrates the impact of purchasing and supply strategies and actions on revenues of the […]
MOB 152
_____ takes place when the offeree incurs a legal detriment in response to the offerors offer. a. Consideration b. Acceptance c. Rejection d. Anticipatory breach e. None of the above. Longer-term relationships are sought with suppliers that have exceptional performance […]
MOB 173 Midterm
The advantage of consignment to the buyer is the ability to defer ownership and avoid committing working capital and incurring carrying charges. a. True b. False In general, the more important the commodity, the less likely that cross-functional members and […]
MOB 180 Quiz 2
The parameters on which a professional services supplier is evaluated should include, but not be limited to, quality, cost management, delivery, technical support, and wavelength. a. True b. False _____ represents the link between a company and its customers. a. […]
MOB 222 Test 2
_____ is a function of the professionals ability to translate supply market data into compelling insights that solve business problems and to enable organizational connections and networking that accelerate business success. a. SRM b. Groupthink c. Reciprocity d. Process gain […]
MOB 245 Quiz 2
_____ systems kick off and control the movement of materials among supply chain partners. a. Network design b. EDI c. MRP d. Execution e. Transaction processing Which of the following is not one of the common assumptions typically used in […]
MOB 274
Learning-curve analysis highlights a key reason why many purchasers consolidate purchase volumes with fewer suppliers. a. True b. False Freight shipped _____ means the supplier retains title to the goods and controls the shipment until it is physically received and […]
MOB 304 Test 1
Examples of irregular dealings with suppliers include all of the following except _____. a. accepting bribes from suppliers b. accepting business lunches before a contract is negotiated c. accepting late bids d. owning a stake in a suppliers company e. […]
MOB 414
Many negotiators fail to prepare adequately before entering into a formal negotiation oftentimes because of a very short timeframe in which to make a deal. a. True b. False _____ can be defined as how supply chain members communicate and […]
MOB 520 Quiz 1
Supplier certification applies only to entire companies or products, rather than a specific part, process, or site. a. True b. False _____ represents the ability to meet or exceed current and future customer (i.e., buyer and eventually end customer) expectations […]
MOB 627 Midterm 2
The _____ group includes the activities supporting the day-to-day operations of the purchasing or materials function. a. material handling b. market intelligence and research c. administration and data management d. operational support and follow-up e. sourcing, negotiation, and contract management […]
MOB 696 Midterm 1
Salaries traditionally take the largest share of the purchasing administrative budget. a. True b. False A critical assessment of the increased supply risks associated with offshore sources must be made after contracting, not before a commitment is made. a. True […]
MOB 709 Midterm
According to Genichi Taguchi, any deviation from a target value carries with it some level of opportunity loss due to scrap, rework, and customer dissatisfaction. a. True b. False Hedging is a form of risk insurance that can protect both […]
MOB 760
Despite its apparent simplicity, barter is one of the least-practiced forms of countertrade today. a. True b. False Certain suppliers who may present the lowest cost seldom present greater risks. a. True b. False Answer: False Strategic cost management approaches […]
MOB 761
Facing increased cost pressure, organizations rely more on people to replace systems. a. True b. False The use of force or coercion to reach an agreement is acceptable in signing a contract, because both parties do not have to enter […]
MOB 765 Quiz 3
_____ indicates whether a seller can lower its cost as a result of the repetitive production of an item. a. Process capability analysis b. Market analysis c. Price analysis d. Break-even analysis e. Learning-curve analysis In a PERT network, the […]
MOB 798
A smaller supplier with limited capacity for growth may need to eliminate some existing customers to meet the increased requirements of a larger customer. a. True b. False Under the UCC, the risk of loss is with the buyer until […]
MOB 801 Test
All of the following are examples of factors in Porters market internal competition force except _____. a. speed of industry growth b. buyer propensity to substitute c. exit barriers d. switching costs e. capacity utilization Material discrepancies usually result from […]
MOB 870 Test
All of the following are characteristics of the post-completion phase of a project except _____. a. confirm that the final project meets the expectations of management or customers b. reassign project personnel to other positions or other projects c. restore […]
MSC 118 Midterm 1
Most purchase contracts address areas that are similar. a. True b. False _____ is defined by CSCMP as that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, […]
MSC 199
In the _____, the supplier analyzes the market to find the combination of price per unit and quantity of sales that maximizes its profit on the assumption that (1) lowering the price per unit will result in more units being […]
MSC 242 Midterm
The implied warranty of _____ means when the seller at the time of contracting has reason to know of any particular purpose for which the goods are required, and the buyer is relying on the sellers skill or judgment to […]
MSC 253 Homework
The degree of effort associated with supplier selection is inversely related to the importance of the required good or service. a. True b. False The process that buyers use to select suppliers does not vary widely depending on the required […]
MSC 256 Midterm 2
In _____, there is an intense focus on identifying and eliminating common causes of waste that add cost, time, and effort to the product or service while not adding value to the customer. a. supplier evaluation and selection process b. […]
MSC 296 Midterm 1
To be most effective, cost-based contracts should include cost productivity improvements in order to drive continuous cost reduction over the life of the contract. a. True b. False There is automatic determination of copyright ownership unless the consultant and the […]
MSC 328
Excessive formality in negotiation can effectively constrain the parties and restrict the free exchange of ideas and solutions. a. True b. False All of the following are common measures used to manage currency fluctuation in international purchasing except _____. a. […]
MSC 350 Test
Barter requires trading parties to enter into a series of contracts to fulfill trading requirements. a. True b. False The longest path (in time) through a PERT network is the critical path. a. True b. False Answer: True Under traditional […]
MSC 364 Midterm
Successfully using teams does not require extensive planning before a team should be allowed to pursue an assignment. a. True b. False Early visibility to product requirements allows supply management to share critical information with suppliers that can help avoid […]
MSC 434
An important factor to consider when hiring an outside consultant to perform contract services for a company is that such a person is the purchasing companys employee, not its agent. a. True b. False The currently dominant decentralized model for […]
MSC 443
Perhaps the most compelling reason to consider a short-term contract, from the buyers perspective, is that such contracts may reduce the level of risk incurred if longer-term contracts are employed. a. True b. False Buyers do not need to consider […]
MSC 538 Final
Supply management is a broader concept than purchasing. a. True b. False How well suppliers purchase their goods and services has no direct impact on purchase price levels. a. True b. False Answer: False The _____ clause in a contract […]
MSC 670
The _____ clause of a contract describes the course of events that occur if there are unforeseen calamities such as earthquakes or hurricanes that prevent a supplier from fulfilling its obligations to the buyer. a. liability b. force majeure (LO […]
MSC 685
The _____ clause in a contract establishes where bills, invoices, notices, and other documents should be sent, as well as the key contact person at the buying and supplying companies to whom all questions and issues concerning the relationship. a. […]
MSC 702
Which of the following is not one of the conditions under which negotiation is effective? a. When the purchase requires agreement about a wide range of performance factors, such as price, quality, delivery, risk sharing, and product support. b. When […]
MSC 706 Quiz 2
With a _____, both parties agree that payment occurs as long as exchange rates do not fluctuate outside an agreed-upon range or band. a. hedging agreement b. payment in a foreign currency c. speculation agreement d. currency adjustment clause e. […]
MSC 744
In supplier evaluation, reliability refers to the different individuals or groups reviewing the same items and measurement scales will arrive at the same conclusion. a. True b. False A/An _____ is a method or scheme devised for making or doing […]
MSC 771
By identifying unnecessary steps and resources, value stream mapping streamlines processes for greater efficiency. a. True b. False When using negotiating a/an _____, it is necessary to include a/an _____ that allows a buyer to terminate the contract in the […]
MSC 797 Final
In value stream mapping, the flow diagram that depicts process improvements to optimize the value and minimize the non-value-added streams is called a/an _____. a. current state map b. future/ideal state map c. variation map d. anticipated state map e. […]
MSC 808
All buyer-supplier negotiations are relatively straightforward, only requiring rudimentary preparation and planning. a. True b. False A/An _____ contract is designed to provide access to expensive computer networks and software that single companies are unable to afford on their own. […]
MSC 827
According to Ohno and Toyota, _____ is a category of waste that moves material unnecessarily or long distances. a. unnecessary movement b. over-processing c. defect d. unnecessary transport e. overproduction A _____ has unique requirements or niche suppliers, yet is […]
MSC 858
In a regular reverse auction, prices are anonymous, and the identity of the competitors is provided to all sellers. a. True b. False For some purchased items, such as bulk raw materials, speed of transportation is the most important factor. […]
MSC 886
_____ actions and resources are those actions in a process that must be done to make the product but create no value for the customer. a. Non-value-adding b. Necessary non-value-adding c. Value-adding d. Inventory surplus e. None of the above. […]