question

Procurement and _____ are viewed as synonymous terms

answer

purchasing

question

The Global Supply Chain Forum (GSCF) Model identifies eight relevant processes associated with supply chain management.

answer

True

question

The decision to use third-party logistics companies can be driven by strategic or tactical considerations.

answer

True

question

Contemporary supply chains are increasingly required to be fast and _____.

answer

agile

question

One of procurement's most important responsibilities involves supplier selection and evaluation.

answer

True

question

Trade shows, trade publications, and the Internet are sources that can be used to identify possible suppliers.

answer

True

question

Procurement's historical focus in many organizations was to minimize the total number of outside suppliers.

answer

False

question

A fourth-party logistics provider is a supply chain facilitator that has achieved ISO 9000 certification.

answer

False

question

First and foremost, procurement's objectives must manage the purchasing process effectively and efficiently.

answer

False

question

The final step of the supplier selection process is to evaluate the decision.

answer

True

question

The general idea behind _____ is that one company allows a specialist company to provide it with one or more logistics functions.

answer

third-party logistics

question

The two prominent supply chain management frameworks are the Supply Chain Operations Reference (SCOR) model and the Process Classification Framework (PCF).

answer

False

question

Procurement costs often range between _____ of an organization's revenues.

answer

60%-80%

question

_____ refers to "how we do things around here" and reflects an organization's vision, values, and strategic plans.

answer

Corporate culture

question

The current Global Supply Chain Forum (GSCF) model identifies _____ key processes associated with supply chain management.

answer

five

question

_____ materials have no economic value.

answer

Waste

question

One benefit to procurement cards is that they are easily used outside their domestic market.

answer

False

question

The Supply Chain Operations Reference (SCOR) model identifies five key processes associate with supply chain management.

answer

False

question

What is a fourth-party logistics provider?

answer

a company that ensures that various third-party logistics companies are working toward the relevant supply chain goals and objectives

question

Procurement and purchasing are viewed as synonymous terms.

answer

True

question

With respect to gift giving and gift receiving, _____ refers to money paid before an exchange.

answer

a bribe

question

Procurement refers to the raw materials, component parts, and supplies bought from outside organizations to support a company's operations.

answer

True

question

Procuring products from suppliers close to one's own facilities refers to _____.

answer

near-sourcing

question

An organization's ability to respond to changes in demand with respect to volume and variety refers to _____.

answer

agility

question

Procurement's costs often range between 40 - 60% of an organization's revenues.

answer

False

question

Which of the following is not a barrier to supply chain management?

answer

all of the above are barriers (regulatory and political considerations, lack of top management commitment, reluctance to share, or use, relevant data, and incompatible corporate cultures)

question

Investment recovery is often the responsibility of the finance manager.

answer

False

question

Supplier scorecards can involvement assessments of a supplier's structure, resources, technology, health, and responsibility.

answer

False

question

A contemporary procurement manager might have responsibility for reducing cycle times and for generating additional revenues by collaborating with the marketing department.

answer

True

question

The supply chain concept originated in the logistics literature.

answer

True

question

A reduction in the number of invoices is one benefit to procurement cards.

answer

True

question

Single sourcing consolidates purchase volume with a single supplier with the hopes of enjoying lower costs per unit.

answer

True

question

The overall global climate for business has shifted toward allowing more cooperation among firms—which should help supply chain management.

answer

True

question

Which of the following is not a dimension associated with socially responsible procurement?

answer

profit

question

Supply chain management requires companies to adopt an enterprise-to-enterprise point of view.

answer

True

question

What concept can be viewed as a combination of processes, functions, activities, relationships, and pathways along which products, services, information, and financial transactions move in and between enterprises from original producer to ultimate end user or consumer?

answer

supply chain

question

Excess materials refer to stock that exceeds the reasonable requirements of an organization.

answer

True

question

Customers are not included as a component of supply chains.

answer

False

question

The two most prominent supply chain management process frameworks are the Supply Chain Operations Reference (SCOR) Model and the _____.

answer

Global Supply Chain Forum (GSCF) Model

question

A benefit to multiple sourcing is increased cooperation and communication in a supply relationship.

answer

False

question

Which of the following is false? (top management commitment is essential if supply chain efforts are to have any chance of success, some companies are uncomfortable with the concept of customer power in supply chains, senior management commitment to supply chain management occurs in one of every two organizations, or some companies are hesitant to enter into long-term relationships because such relationships might be perceived as limiting a company's operational flexibility)

answer

senior management commitment to supply chain management occurs in one of every two organizations

question

With respect to supply chains, relevancy focuses on an organization's ability to respond to changes in demand with respect to volume and variety.

answer

False

question

Supply chains are a new concept in the sense that they were first identified in the 1970s and 1980s.

answer

False

question

The supply chain management concept originated in what discipline?

answer

logistics

question

_____ identifies opportunities to recover revenues or reduce costs associated with scrap, surplus, obsolete, and waste materials.

answer

Investment recovery

question

Investment recovery identifies opportunities to recover revenues or reduce costs associated with scrap, surplus, obsolete, and waste materials.

answer

True

question

Regulatory considerations represent a bigger obstacle than political considerations to supply chain management.

answer

False

question

The first step in supplier selection and evaluation is situation analysis.

answer

False

question

Which organizational function is not a focus of the Supply Chain Operations Reference (SCOR) model?

answer

marketing

question

Because customer needs and wants change relatively quickly, supply chains should be fast and lean.

answer

False

Logistics: Supply Chain Management ; Procurement – Flashcards

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