Other
TestBook Solution Principles of Supply Chain Management A Balanced Approach
- Course
- Institution
- Book
Here are the answers of the whole Chapter 2 of the book "Principles of Supply Chain Management A Balanced Approach"
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
TEST BANK Principles of Supply Chain Management: A Balanced Approach 6th Edition by Joel Wisner, Keah-Choon , Keong Leong
-
Instructor Manual For Principles of Supply Chain Management A Balanced Approach, 6th Edition by Joel Wisner, Keah-Choon Tan, G. Keong Leong
-
Solution Manual For Principles of Supply Chain Management A Balanced Approach, 6th Edition by Joel Wisner, Keah-Choon Tan, G. Keong Leong
Seller
Follow
pablofernandomendizabalrojas
Content preview
Principles of Supply Chain Management A Balanced ApproachChapter 2 - Purchasing Management
True / False
1. Purchasing can be broadly classified into two categories: merchants and industrial buyers.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-1
2. The acquisition of services is also known as contracting.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-1
3. The term Supply Management is used to describe responsibilities above and beyond those of traditional purchasing.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Comprehension
OTHER: Analytic
NOTES: 2-2
4. Key activities of supply management include negotiations, logistics, contract development and administration,
inventory control and management, and supplier management.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-2
,Industrial supply chain member buyers purchase their merchandise in volume to take advantage of quantity discounts,
transportation economy, and storage efficiency, and then they create value through services like consolidating merchandise or
break bulking.
True
a.
False
b.
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Comprehension
OTHER: Analytic
NOTES: 2-1
5. The goal of a good purchasing system is to ensure efficient information transitions between the materials users, the
purchasing personnel, and the suppliers.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-2
6. The purchase order is NOTa legally binding contract until it is accepted by the supplier.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-2
7. According to the Annual Survey of Manufacturers, the cost of materials exceeds the value added to the materials during
manufacturing.
True
a.
False
b.
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Comprehension
OTHER: Analytic
NOTES: 2-2
8. The goal of a proper purchasing system is to ensure the efficient transmission of information from the users to the
purchasing personnel, and ultimately, to the suppliers.
, True
a.
9.
False
a.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-2
10. A follow-up is considered a reactive approach to speed up an overdue shipment.
True
a.
False
b.
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-2
11. Generally, firms outsource noncore activities while focusing on core competencies.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Comprehension
OTHER: Analytic
NOTES: 2-4
12. Procurement credit cards can be used for small purchases excluding meals, lodging, and travel expenses.
True
a.
False
b.
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
KEYWORDS: Bloom’s: Knowledge
OTHER: Analytic
NOTES: 2-3
13. Blank check purchase orders, Corporate purchasing cards, Petty cash, and Open-end purchase orders are all possible
alternatives to dealing with small value purchases such as those for office supplies.
True
a.
False
b.
ANSWER: True
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller pablofernandomendizabalrojas. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.79. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now