question

Which of the following is an illustration of a company that has vertically integrated?

answer

All of these

question

Successful modern supply chain management typically includes the practice of:

answer

The sharing of information between supply chain partners

question

which of the following statements is TRUE? Consumers buy products based on a combination of:

answer

Cost, quality, availability, maintainability, and reputation

question

Which of the following is a reverse logistics activity:

answer

Recycling products and components

question

According to the textbook, conditions which must be present for successful supply chain management include:

answer

Cooperation among firms

question

The following is an example of the bullwhip effect:

answer

Barkley's incorrectly anticipates consumer demand resulting in stockouts at several popular retailers

question

The term Supply Chain Management and the field of study it represents today seems to have emerged in the:

answer

1980's

question

Which of the following would be considered a third party provider?

answer

A firm that leases storage warehousing

question

Which of the following was a popular way in the 1990's of developing radically new business processes in an effort to reduce waste and increase performance?

answer

Business process reengineering

question

Which of the following can be classified as a 3PL?

answer

All of these

question

The following supply chain concept was introduced in the 1990's in an attempt to reduce waste and increase performance:

answer

Business Process Reengineering

question

According to the text, the FOUR important elements of the supply chain are:

answer

Purchasing, operations, logistics, integration

question

Encouraging or helping a firm's suppliers to perform in a desired fashion can be referred to as:

answer

Supplier management

question

One operational method for controlling and managing inventory is the implementation of a software system which can be referred to as:

answer

Material requirements planning (MRP)

question

Which of the following acronyms is NOT paired with its correct "translation?"

answer

ERP Estimated Response Parameters

question

Which of the following statements is TRUE?

answer

Strategic partnerships are seen as one of the foundations of supply chain management

question

Which of the following acronyms is NOT paired with its correct "translation?"

answer

MRP Manufacturing Responsiveness and Planning

question

Lean production is typically associated with which of the following company's production systems?

answer

Toyota

question

Transportation management, customer relationship management, network design, and service response logistics are all important issues that are most closely related to:

answer

logistics

question

Which of the following is strategy usually employed by lean organizations in an effort to ensure continued quality compliance among suppliers and with internal production facilities?

answer

Six Sigma

question

Assembly or production of finished products, producing the right amount of product, and ensuring that finished products meet specific quality, cost, and customer service requirements are all important issues that are most closely related to:

answer

Operations

question

Right-shoring refers to:

answer

Contraction activities within the supply chain

question

Which of the following is a system that aids in controlling inventory?

answer

Both MRP and ERP

question

A certain supply chain is made up of: 1. Raw Materials Supplier 2. Components Manufacturer 3. A firm that manufacturers Sub-assemblies 4. End Item Manufacturer 5. Wholesale Distributor 6. Local Retail Chain Warehouse Who is considered the second tier supplier of the firm that manufacturers Sub-assemblies?

answer

Raw Materials Supplier

question

A certain supply chain is made up of: 1. Raw Materials Supplier 2. Components Manufacturer 3. A firm that manufacturers Sub-assemblies 4. End Item Manufacturer 5. Wholesale Distributor 6. Local Retail Chain Warehouse Who is considered the End Item Manufacturer's second tier supplier?

answer

Components Manufacturer

question

The hybrid purchasing system, such as the one utilized by Harrah's, includes many benefits. In such a system the regional office preserves four fundamental purchasing rights. Which of the following is NOT one of those rights?

answer

Allow suppliers to bid for each purchase

question

According to the textbook, the Las Vegas division of Harrah's Entertainment utilizes which of the following purchasing structures?

answer

Hybrid (centralized-decentralized)

question

The primary goals of purchasing include all EXCEPT:

answer

Ensure the highest quality raw materials are purchased

question

The measurement of the impact of change in purchase spend on a firm profit before taxes, assuming gross sales and other expenses remain unchanged, is referred to as:

answer

Profit-Leverage Effect

question

When calculating Return on Investment, current assets include:

answer

Cash, Accounts Receivable, and Inventory

question

Which type of requisition is used for materials and standard parts that are requested on a recurring basis?

answer

Traveling requisition

question

Inventory Turnover can be calculated by:

answer

Ratio of cost of goods sold over average inventory cost

question

A pre-printed order form for purchasing materials and standard parts that are requested on a recurring basis is referred to as:

answer

Traveling Requisition

question

A form of purchasing that is placed directly to the supplier and suitable when firms use the same components to make standard goods over a relatively long period of time is referred to as:

answer

Planned Order Release

question

When a material is not available in the warehouse and there is no current supplier for the item, the buyer must identify a pool of suppliers and issue a:

answer

Request for Quotation

question

On occasion, firms assist suppliers, new or old, to improve their processing capabilities, product or service quality, delivery effectiveness, and cost performance by providing the required technical and financial assistance. This is referred to as:

answer

Supplier development

question

The Uniform Commercial Code governs the purchase and sale of goods in the US except in the state of:

answer

Louisiana

question

Which of the following documents is considered the buyer's offer to purchase products or services from a supplier, is legally binding once the supplier accepts it, and usually has the terms and conditions of purchase preprinted on the back of the document?

answer

Purchase Order

question

Benefits derived from implementing e-procurement systems include all of the following EXCEPT:

answer

Creates numerous additional job opportunities in the purchasing department

question

Benefits derived from implementing an e-procurement system include all EXCEPT:

answer

Decentralized Purchasing

question

Which of the following illustrates Forward Vertical Integration?

answer

Sony buying trucks to deliver their finished goods inventories to their customers' warehouses

question

If a distribution company that focused on warehousing and distribution of grocery items decided to purchase a chain of grocery stores, the distribution company would be exemplifying:

answer

Forward vertical integration

question

Which of the following would be a good reason to outsource (buy) versus making?

answer

A firm lacks the technology or expertise to produce an item

question

As firms seek to improve the products they offer to the market, companies are seeking help from their suppliers in new product design and development through:

answer

Early supplier involvement

question

Which of the following is a reason that single sourcing is considered risky/bad?

answer

The limited (finite) capacity of one supplier

question

Which of the following statements is FALSE?

answer

Decentralized purchasing means not having any purchasing departments and allowing all employees to act as purchasing agents

question

Which of the following is NOT a form of countertrade

answer

Incoterming

question

While most public procurement is focused on goals similar to those of purchasing departments in the private sector, U.S. federal government purchases must comply with the:

answer

Federal Acquisition Regulation

question

Given the following make-buy information, what would be the break-even point? Make Option Buy Option Fixed Costs $7500 $1500 Variable Costs $ 4 $ 9

answer

1200 Units

question

Given the following make-buy information, what would be the break-even point? Make Option Buy Option Fixed Costs $15000 $1250 Variable Costs $ 5 $ 10

answer

2750 Units

question

According to the text, key ingredients for developing successful supply partnerships include all of the following EXCEPT:

answer

Individualized objectives

question

Which of the following is important in developing successful relationships in a partnership?

answer

all of these

question

Which of the following is NOT important in developing a successful strategic alliance?

answer

Developing efficient processes that will remain unchanged for the duration of the partnership

question

According to the text, one of the most basic and successful approaches to protecting trade secrets is:

answer

Requiring employees and vendors to sign non-disclosure agreements

question

According to the text, the goal of a good performance evaluation system is to provide metrics that are:

answer

Understandable, easy to measure, focused on value-added results

question

The combination of the purchase price of a good and additional costs incurred before or after product delivery can be referred to as:

answer

Total cost of ownership

question

Costs associated with investigating alternative suppliers and investigating alternative delivery options can be classified as:

answer

Pre-transaction costs

question

The process of certifying a new supplier is considered what type of major cost category?

answer

Pretransaction Cost

question

Field failures, loss of goodwill, a decreased reputation, and warranty costs can all be classified as:

answer

Post-transaction costs

question

Which of the following is TRUE?-

answer

Continuous improvement and change management are both keys to building successful partnerships.

question

An organization's process for evaluating the quality systems of key suppliers in an effort to eliminate incoming inspections can be referred to as:

answer

Supplier Certification

question

Benefits of implementing an effective supplier certification program include all or the following EXCEPT:

answer

Increasing supplier base

question

When using a Weighted Criteria Evaluation System to evaluate suppliers, all of the following are true EXCEPT:

answer

Select the key dimensions of performance based on what is important to the consumer

question

A company using a weighted-criteria evaluation system has established these 5 categories and the appropriate weight in parentheses: Quality (0.30) Responsiveness (0.20) Delivery (0.20) Cost (0.20) Technology (0.10 )Company X received the following ratings in each of the five categories: Quality(90), Responsiveness(80), Delivery(80), Cost(90), Technology(90). What is their total score?

answer

86.0

question

A company using a weighted-criteria evaluation system has established these 3 categories and the appropriate weight in parentheses: Quality(0.30), Delivery(0.20), Cost(0.50).The scores for each category are shown below. Which of the following companies has the highest total score?

answer

Company B: Quality(70), Delivery(90), Cost(80)

question

A company using a weighted-criteria evaluation system has established these 3 categories and the appropriate weight in parentheses: Quality(0.30), Delivery(0.40), Cost(0.30).The scores for each category are shown below. Which of the following companies has the highest total score?

answer

All companies scored the same.

question

A company using a weighted-criteria evaluation system has established these 5 categories and the appropriate weight in parentheses:Quality (0.25) Responsiveness (0.10) Delivery (0.20) Cost (0.25) Technology (0.20) Company X received the following ratings in each of the five categories: Quality(90), Responsiveness(90), Delivery(80), Cost(80), Technology(90). What is their total score?

answer

85.5

question

Which third party certification was adopted by the European Union in 1992 that caused US suppliers wanting to stay competitive in European Union countries to get certified?

answer

ISO 9000

question

Direct benefits of ISO 14000 include:

answer

Reduction of pollution emission

question

According to the textbook, which of the following companies utilizes a supplier development program called Supplier Continuous Quality Improvement (SQDI) focused on improving the quality of the goods and services purchased and minimize the time needed to inspect incoming products?

answer

intel

question

The Hormel company awards their Hormel Food Corporation's No. 1 Award to their top supplier. How often to the give this award?

answer

every 5 years

question

The acronym SRM refers to:

answer

Supplier Relationship Management

question

Streamlining the processes and communications between the buyer and supplier using software applications that enable these processes to be managed more efficiently and effectively can be referred to as:

answer

SRM

question

Summers, Inc. needs to generate a list of good/services purchased per supplier. Which type software program can the manager consult to obtain the information?

answer

SRM

question

SRM software should be capable of:

answer

All of these

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