___________ is/are identified as the longest-duration path through the network.
A. The sequence of activities
B. The network diagram
C. The events
D. The essential path
E. The critical path
The duties and responsibilities of the project or contract manager are diversified. The
precise duties depend on the owner’s organization. The skill and experience of the
_____________ are the ultimate determinants of a successful project.
A. contractor
B. project manager
C. contract manager
D. owner
E. owner’s employees
The ___________ is an agreement between the project owner (the Federal Highway
Administration and a specific state department of transportation) and the contractor.
A. scope of work
B. working agreement
C. standard of work agreement
D. detailed working agreement
E. scope of project agreement
When doing business in France, (a buyer) will often go through a (n) _________ whose
credentials are impeccable. (The) choice of __________ is important.
A. banker / a banker
B. exporter / an exporter
C. chief export director / a CED
D. intermediary contact / an intermediary
E. secretary of exports / secretary
Two factors driven by power and critical to the partnership dyad are commitment and
trust. Commitment may be defined as the perception of being emotionally impelled.
A. True
B. False
__________ materials are any commodity or service that is not directly involved in the
production of finished goods.
A. Raw
B. Custom
C. Finished
D. Direct
E. Indirect
Some of the specific benefits of outsourcing are to
1> Reduce and control operating costs.
2> Improve quality.
3> Change company focus.
4> Acquire external capabilities.
5> Refocus scarce resources for alternative uses.
6> Reduce cycle time.
7> Obtain cash infusion.
8> Reduce risks.
9> Gain flexibility.
10> Turn fixed costs into variable costs.
A. True
B. False
The intense attention on the outflow of work to overseas locations has generated
________ about which jobs or professions will be outsourced next.
A. fear
B. concern
C. stress
D. interest
E. joy
Discussion, understanding, and agreements are vital to ___________ bargaining.
A. distributive
B. common
C. standard
D. routine
E. fail safe
A 2005 study reported that, based on the experience of the global consulting firm Booz
Allen Hamilton, they would estimate that approximately one in three outsourcing
efforts fails to achieve outsourcing expectations. These anecdotal findings suggest that
there is a troubling gap between expectations and reality; however, outsourcing is
____________.
A. here to stay
B. being revised
C. being cut back
D. here for the next couple of years
E. fading out
When it comes to customer satisfaction customers want all of the following with one
exception. Which is the exception?
A. Short lead time
B. Good quality
C. Low cost
D. Customized products
E. Post-sale service
Drivers of satisfaction within supply chain partnerships include relationship-oriented
factors such as _________________.
A. planning and mutuality
B. interdependence
C. operational information exchange
D. all of the above
E. “A†and “C†only
A ________ signature should be such that it can be used to identify the signer. This
does not mean that the signature itself must consist of or include the _________ name.
A. commercial / company’s
B. guaranteed / guarantor’s
C. secure / guarantor’s
D. secure / signer’s
E. commercial / signer’s
The buying firm must develop an estimate of the winning bid amount. The buying
firm’s estimate should be based on market data, including the following:
•The dollar value of previous bids.
•The expected profit from previous bids.
•The data set is used to estimate the probability of different bid scenarios. The
scenario should include mock bids with low, moderate, and high profit margins.
•The expected profit equation is given as:
E(πA) = P(A) × y(A)
A. True
B. False
Moreover, Dunn and Bradstreet found that 20 to 25 percent of all outsourcing
relationships fail within __________ and nearly half fail within ____ years. This
implies that the likelihood of incurring these expenses again, or experiencing costs
associated with reinternalizing an outsourced activity, is ___________. Another critical
financial consideration with outsourcing is the impact on the ___________.
A. two months / ten / relatively high / environment
B. two years / eight / good / internal workforce
C. two years / five / relatively high / internal workforce
D. two years / five / somewhat low / environment
E. two months / five / relatively high / internal workforce
The _____ is an excellent way for the buying firm to test the market without making a
legal commitment to purchase.
A. PDQ
B. RDA
C. RFQ
D. RFC
E. RFA
Traditionally, long and infrequent production runs have in the past been considered
beneficial for the overall productivity of a manufacturing organization.
However, long production runs usually lead to ____________ of raw-material and
finished-goods inventories.
A. stable levels
B. low levels
C. steady flows
D. intermittent flows
E. high levels
If one definition of quality is conformance to specs, the specifications must be
__________. The manner of specifying materials depends on the kinds of material
ordered.
A. unambiguous
B. detailed
C. correct
D. direct
E. standardized
With __________, conditions are somewhat different. First, the buying firm initializes
the auction by submitting a description of the product or service. Sellers then place bids
based on their offer to fulfill the buyer’s needs.
A. Amazon.com
B. traditional auctions
C. silent auctions
D. reverse auctions
E. eBay
The most severe penalty for poor quality expectations is (are) ____________. If the
quality of the inputs to the productive system is inferior, the final product will be
inferior.
A. government sanctions
B. consumer boycotts
C. court cases
D. consumer complaints
E. the loss of sales
With cash-flow data in hand, the company can begin the formal process of evaluating
capital equipment or projects. The five most commonly used methods for an economic
evaluation of individual projects are payback, average rate of return, gross present
value, internal rate of return, and profitability index.
A. True
B. False
The nursing unit managers would be a natural choice for product-line managers of
selected DRG- or CPP-related products. Careful planning and communication are
paramount to success of such a plan. Extensive audits and interviews using feedback
and constant monitoring are the fundamental elements if supply master planning should
be implemented. Again, communication is the key. By whatever innovative method,
cooperation and communication must be improved so that higher throughput and lower
cost will result.
A. True
B. False
______ purchasing is a term used for purchasing office equipment, furniture, office
supplies, forms, computers, travel services, maintenance services, light bulbs, janitorial
supplies, and many other relatively low-cost items.
A. MRO
B. ORM
C. CCM
D. MBO
E. DOP
A crucial issue to be considered is the relevance of _________ in the successful
implementation of the just-in-time system in a country.
A. culture
B. procedure
C. communication style
D. life styles
E. policy
The requisition process is sometimes initiated by a ___________________ or special
appropriation for major acquisitions. Sometimes firms place a monetary limit upon
acquisition that can be made without special approval.
A. “wish list,†low-cost projection
B. special project
C. special project, special promotion
D. member of the board of directors
E. vice president of operations
The price is determined when the offer is accepted. In some cases, price __________
clauses are used in a contract.
A. elevator
B. escalation
C. stabilization
D. fixing
E. calculating
The general sources of price information are which of the following?
A. published price lists and quotations
B. other buyers in the market and trade journals
C. negotiations and competitive bidding
D. distribution
E. all of the above
Implementing the reverse auction process requires some of the following steps with one
exception:
A. Define market specifications
B. Identify suppliers
C. Perform post-award review
D. Approve suppliers listing
E. Identify specific terms and conditions
The commercial purchasing literature on e-procurement has suggested
____________________ for businesses and organizations can be realized by migrating
to electronic procurement systems for all of their purchasing requirements.
A. increases in sales or revenues
B. shorter delivery times
C. significant savings
D. more accurate order processing
E. less down time
Direct labor and materials costs, lead-time costs, transportation costs, and inventory
costs are a part of both domestic and offshore sourcing. _________________ tend to be
higher when sourcing globally.
A. Transportation costs, inventory costs, and lead-time costs
B. Transportation costs, materials costs, and lead-time costs
C. Materials costs, transportation costs, and inventory costs
D. Transportation costs and inventory costs (only)
E. Transportation costs and lead-time costs (only)
The transition to ______ has not necessarily been a smooth one for many companies in
the United States. But this does not imply that switching from a pure ____ system to a
__________ system was a mistake for most companies.
A. JOT / MRI / JOT or hybrid
B. JIT / MBO / JIT or hybrid
C. JIT / MRP / JIT or hybrid
D. JOT / MRP / JOT or matrix
E. JIT / MRI / JIT or hybrid
________________ exists where there are areas of mutual concern and complementary
interests. The situation is a varying-sum schedule such that, by working together, both
parties can increase the total profits available to be divided between them.
A. Integrative bargaining
B. Routine bargaining
C. Distributive bargaining
D. Net-sum bargaining
E. Net-zero bargaining