BUAD 331 Exam 2 (Knowledge Checks) Question And Answers
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Course
BUAD 331 2
Institution
BUAD 331 2
office supplies for an automobile manufacturer would fit in the supply and commodity
category titled "Indirect Materials Office Supply Product category" (t/f) - CORRECT
ANSWER-true
you are in charge of buying a new make and model of work computers for the entire
company HQ. you know it will ...
BUAD 331 Exam 2 (Knowledge Checks)
Question And Answers
office supplies for an automobile manufacturer would fit in the supply and commodity
category titled "Indirect Materials Office Supply Product category" (t/f) - CORRECT
ANSWER-true
you are in charge of buying a new make and model of work computers for the entire
company HQ. you know it will be expensive, but have many options to choose from so
you can make computer manufacturers bid against each other. Why type of commodity
are the computers? - CORRECT ANSWER-leverage commodity
sourcing is the inputs (or things we buy), including materials, sub-assembled
components, equipment, and services, that are required to create value (t/f) -
CORRECT ANSWER-false
what is not an area in which successful supply managers need expertise? - CORRECT
ANSWER-customers
when purchasing and supply management works well within an organization, the
company acquires the best resources from around the world, which allows it to compete
on cost, quality, and innovation (t/f) - CORRECT ANSWER-true
what is the most important right of purchasing? - CORRECT ANSWER-the right supplier
one of the most challenging aspects of purchasing is to ensure an uninterrupted flow of
supply. what might interrupt that flow? - CORRECT ANSWER-- natural disasters
- supplier quality issues
- logistics interruptions
- financial issues
a dollar saved in material costs goes directly to an increase in revenue for the
organization (t/f) - CORRECT ANSWER-false
purchasing has become a strategic contributor to organizational value by contributing to
both the top and bottom line of the business (t/f) - CORRECT ANSWER-true
the choice of suppliers is important to ensure an uninterrupted flow of supply and avoid
some of the problems inherent in complex supply chains (t/f) - CORRECT ANSWER-
true
, what supplier management tool is the standard to continuously track a supplier's
performance and financial health and ensure that key goals are being met? -
CORRECT ANSWER-scorecards
the key to effective procurement is __________ of suppliers and __________
management - CORRECT ANSWER-segmentation, strategically appropriate
which of the Krajlic's Portfolio Matrix items is highly complex in the supply market and
has a high importance of purchasing? - CORRECT ANSWER-strategic items
supplier portfolio analysis was presented by Michael Porter (t/f) - CORRECT ANSWER-
false (Peter Kraljic)
__________ is part of the supply chain involved in managing the forward and reverse
flow and storage of goods, services, and related information between the point of origin
and the point of consumption to meet customers' requirements - CORRECT ANSWER-
logistics
what invention by Malcolm McLean revolutionized how products are shipped and
reduced cost that is considered a key facilitator of global trade? - CORRECT ANSWER-
shipping containers
what mode of transportation is the biggest competition for an inland barge? - CORRECT
ANSWER-rail
which mode is best for transporting heavy construction equipment? - CORRECT
ANSWER-rail
which mode is best for transporting consumer finished goods? - CORRECT ANSWER-
motor
which mode is best for transporting long distance containerized goods? - CORRECT
ANSWER-water
which mode is best for transporting high value goods? - CORRECT ANSWER-air
which mode is best for transporting petroleum or mineral slurry? - CORRECT
ANSWER-pipeline
based on similar cost and service characteristics, which mode of transportation is the
biggest competition for an inland water transport? - CORRECT ANSWER-rail
__________ + __________ = rate bargaining power when negotiating rates -
CORRECT ANSWER-volume + consistency
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