Question details

Strayer BUS 230 Purchasing & Material Mgmt Week 4 Quiz 2017
$ 8.00

1. Online auctions have been most effective when:

a. the good or service is unique or highly customized

b. technological, logistical, and commercial specifications are ambiguous

c. the market conditions favor buyes

d. the organization owns the technology to run the auction

e. there are a less than 3 suppliers available

2. Efficient and effective supply processes are needed because of

a. the need for an audit trail. 

b. the large volume of items and dollar value.   

c. severe consequences of poor performance.   

d. the potential contribution to organizational objectives. Correct!  

e. all of the above

3. If the buyer has a detailed description of the requirements and is inviting bidders to use their expertise to develop and propose one or more solutions, the buyer will issue a:

a. Request for Quotation (RFQ)

b. request for proposal(RFP).

c. Request for Information (RFI)

d. Request for Bid (RFB)

e. request for suggestions (RFS)

4.  Effectively and efficiently applying technology to the supply management process will result in:

a. increased clerical effort because there is more data entry than in a manual system.

b. damaged buyer-supplier relationships because of the impersonal nature of electronic communication.

c. an ability to reduce the total cost of doing business by enabling just-in-time systems, barcoding applications, integrated manufacturing, and electronic funds transfers.

d. poorer negotiation planning and preparation because of the time spent accessing and analyzing data.

e. a decline in operating performance because of the volume of information to be analyzed and considered before making a decision

5. One purpose of a requisition is:

a. to give users a way to authorize buyers to acquire goods and services.

b. to solicit price quotes for goods or services from suppliers.

c. to give finance a way to have the final say in any decision to spend money.

d. to clarify the description of need before communicating with potential suppliers.

e. to request or requisition supplies from external suppliers.

6. The greatest opportunity to affect value in the purchasing process is when:

a. the supplier(s) is selected.

b. price and terms are determined.

c. potential suppliers are analyzed.

d. needs are recognized and described.

e. the buyer follows-up and expedites the order

7. Electronic data interchange (EDI) provides:

a. secure transmission of large amounts of data, but with slow turnaround.

b. secure transmission, greater accuracy and shorter process cycle time for all data.

c. slow processing of large amounts of data, but with greater accuracy.

d. longer process cycle time, but with greater accuracy.

e. secure and rapid transmission of small amounts of data.

8. Application software for the procurement process is available

a. only through an enterprise resource planning (ERP) system.

b. only from a systems developer who develops a customized application.

c. only from a cloud solution.

d. from an ERP system or systems developer, but not from a cloud solution.

e. from an ERP system, a systems developer, or a cloud solution.

9. The benefit(s) of participation in an e-marketplace include:

a. The ability to aggregate spend

b. The advantages from economies of scale

c. Visibility up-and downstream in the supply chain

d. The ability to automate and facilitate transactions.

e. All of the above

10. Radio frequency identification (RFID) will:

a. eliminate bar coding and manual counting.

b. eliminate further investment in information technology.

c. supplement bar coding to reduce theft.

d. be more cost effective to implement than bar coding.

e. improve data capture but slow down inventory picking 

 

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