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Strayer BUS 230 Purchasing & Material Mgmt Week 9 Quiz 2017
$ 8.00

1. Reverse marketing is:

a. encouraged by the rapid rate of technological change, growth in international trade, and the need to extract competitive advantage from supply chains.

b. when the buying organization has decided to stop making something inhouse and identifies a supplier from its existing supply base.

c. is an aggressive, marketing-initiated, approach to finding and developing world-class suppliers.

d. requires that the marketing department in the buyer’s organization fully understand the needs of supply.

e. is most appropriate when the product is fairly standard and available from multiple local suppliers.

2. To avoid risk, a buyer can:

a. hedge in a commodities market

b. require bid of performance bonds

c. decide not to do business in certain countries

d. a and b

e. a, b and c

3. Supply management's role in environmental considerations is:

a. limited because environmental issues have little impact on the acquisition cycle.

b. expanding because purchasing has primary responsibility for specification writing.

c. limited by the product design developed by design engineers.

d. expanding because the goal of zero environmental impact affects the acquisition cycle.

e. limited to compliance with government laws and regulations concerning hazardous materials

4. Which of the following statements supports single sourcing?

a. there is a high probability of a devastating natural disaster.

b. the use of just-in-time production, stockless buying, or systems contracting.

c. concerns exist about supplier capacity for future volume.

d. there is a need to reduce dependence on a supplier.

e. there is volatility in the supplier market.

5. Assessment of a potential supplier’s financial situation:

a. is best left to the finance department which will alert supply to any issues that might adversely affect a pending deal.

b. seldom relies on financial information provided by the supplier.

c. is always necessary and follows a strict protocol no matter what type of purchase or dollar value.

d. is usually unnecessary because it is highly unlikely that a supplier will go out of business, and, even if they do, it is relatively easy to replace a supplier.

e. may yield substantial opportunities for negotiating favorable terms for both buying and selling organizations.

6. Small suppliers:

a. are most suited for large dollar value “A” requirements.

b. usually represent very low risk to the purchaser.

c. tend to have a strong financial base.

d. often provide the greatest responsiveness and flexibility.

e. tend to have an extensive management structure

7. Portfolio or quadrant analysis:

a. may be used to develop longer-term strategies for moving categories of spend into a more desirable location on the spend map.

b. may be used to justify, clarify or revise existing commodity strategies.

c. is based on the Pareto curve.

d. a and b.

e. a, b and c.

8. Decision trees:

a. may be useful in making effective supplier selection decisions the first-time a buying decision is made, but not on repetitive purchases.

b. may be useful in making effective supplier selection decisions when making repetitive purchases, but not special, one-time purchases.

c. may be useful in making effective supplier selection decisions if probabilities of success and failure are assessed for each option.

d. are of limited value because options can only be evaluated qualitatively, not quantitatively.

e. cannot reflect past decisions so they are useless as a decision tool when making repetitive purchases

9. Distributors, wholesalers, and retailers:

a. typically cannot deliver at a lower cost than the manufacturer.

b. typically carry a very limited supply in an effort to keep inventory costs low.

c. may provide valuable services and a better price than the manufacturer.

d. have an indefensible value proposition in the typical modern supply chain.

e. never add enough value to a buyer to make it worth doing business with them.

10. In the portfolio matrix, characteristics of goods and services in the leverage quadrant are:

a. competitive supply market, substitution is possible, price per unit is important.

b. competitive supply market, substitution is possible, and total cost is a primary focus.

c. few suppliers with adequate capability so substitution and switching are difficult.

d. item substitution is possible, switching is difficult, and many suppliers are available.

e. item substitution and supplier switching are possible, but few suppliers are capable

11. Trends in supply management include:

a. switching suppliers frequently through online auctions to get price discounts.

b. limiting the number of suppliers and focusing on results from key suppliers.

c. increasing the number of suppliers and developing closer relationships.

d. negotiating shorter term contracts with fewer suppliers to increase leverage.

e. greater concentration of the supplier selection decision in procurement.

12. A weighted point evaluation system:

a. is seldom used because the costs usually outweigh the benefits.

b. includes evaluation criteria, an importance factor for each, and a rating system.

c. includes efficiency and effectiveness metrics weighted by users perceptions.

d. is the most commonly used process because of ease of design and use.

e. allows each rater to weight the criteria, but all raters user the same rating scales.

13. Reverse marketing is:

a. encouraged by the rapid rate of technological change, growth in international trade, and the need to extract competitive advantage from supply chains.

b. when the buying organization has decided to stop making something inhouse and identifies a supplier from its existing supply base.

c. is an aggressive, marketing-initiated, approach to finding and developing worldclass suppliers.

d. requires that the marketing department in the buyer’s organization fully understand the needs of supply.

e. is most appropriate when the product is fairly standard and available from multiple local suppliers.

14. One of the assumptions on which the purchasing-supplier satisfaction model is based is that:

a. the satisfaction level cannot be assessed well enough to draw definitive conclusions.

b. the purchaser and supplier always have the same perceptions of the same relationship.

c. attempts to move to a different position fall only in the win-lose and win-wincategories.

d. there are few tools and techniques available to move positions or improve stability.

e. an unsatisfied party may use various tools to improve the relationship.

15. Supply chain management effectiveness is driven primarily by the organization’s ability to manage the:

a. internal link between supply management and its internal customers.

b. internal link between supply management and senior management.

c. internal and external links of customers, the buying organization and suppliers.

d. external link between a buying organization and its key suppliers.

e. external link between a buying organization and its key customers.

16. To select a potential supplier-partner, the buyer should consider:

a. both hard and soft factors with an eye toward long-term outcomes.

b. both hard and soft factors with an eye toward short-term outcomes.

c. soft factors such as congruence of management values and compatibility.

d. hard factors such as quality, quantity, cost, and technology.

e. the willingness of the supplier to quickly change processes for results

17. Which of the following is a result of forming a buyer-supplier partnership?

a. the amount of time committed to the buyer-supplier relationship is greatly reduced.

b. buyer-supplier relationships are greatly improved at the expense of internal relationships.

c. the buying organization can enjoy the benefits of horizontal integration without the disadvantages.

d. the design process and the introduction of new designs is faster due to earlier supplier and supply involvement.

e. significant quality improvements occur and total cost typically increases

18. A goal of supply chain management is to:

a. gain competitive advantage by occurring confidential information from chain members.

b. drive down prices through competitive online bidding

c. push inventory as far down the supply chain as possible

d. reduce uncertainty and risks between and among member of the supply chain

e. increase competition by dramatically increasing the number of suppliers in the supply

19. Early supply and supplier involvement (ESI):

a. Pulls both the buyer and supplier into the need recognition and description stages of the acquisition process.

b. Pulls both the buyer into relationship management stage and pulls the supplier into the need recognition and description

c. Pulls the buyer into the need recognition and description stage and pulls the supplier into the measurement stage

d. Pulls the buyer into the measurement stage and pulls the supplier into the recognition and description Stage

e. Pulls both the buyer and supplier into the process of measuring results and developing action plans for performance improvement.

20. To enhance the chance for successful strategic alliances, the supply manager must:

a. ensure that price formulation and price escalator clauses are included in the contract terms and conditions.

b. clearly establish what is required from the supplier and the penalties for failure to perform.

c. reinforce the notion that the supply manager can easily switch to another alliance if the supplier fails to perform.

d. analyze the supplier’s capability for e-procurement and ensure that the supplier can effectively and efficiently manage online catalogs.

e. identify suppliers whose management views on quality and productivity match those of the buying organization and have both parties establish expectations

 

 

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  • Strayer BUS 230 Purchasing & Material Mgmt Week 9 Quiz 2017
    $8.00

    1. Reverse marketing is: a. encouraged by the rapid rate of technological change, growth in international trade, and the need to extract competitive advantage from supply chains. b. when the buying organization has decided to stop making something inhouse and identifies a supplier from its existing supply base. c. is an aggressive, marketing-initiated, approach to finding and developing world-class suppliers. d. requires that the marketing department in the buyer’s organization ful

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