SCMN 3150 Test 2 (5-8) || with 100% Errorless Answers.
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Course
SCMN 3150
Institution
SCMN 3150
Why is the buy process so important to companies today? correct answers Because the buy process can generate sustainable advantage
What type of purchase is high risk, high profit impact that requires long-term supplier relationships? correct answers Strategic items
Kralijic's Portfolio Purcha...
SCMN 3150 Test 2 (5-8) || with 100% Errorless Answers.
Why is the buy process so important to companies today? correct answers Because the buy
process can generate sustainable advantage
What type of purchase is high risk, high profit impact that requires long-term supplier
relationships? correct answers Strategic items
Kralijic's Portfolio Purchasing Model evaluates goods on two criteria. What are they? correct
answers Supply risk and profit impact
Which types of purchases include the modules and components that are used in production
processes and add value to the product? correct answers Direct materials
How are orders typically released to suppliers? correct answers Via electronic methods
In which procurement step do you rate suppliers based on their capability, capacity, and past
performance? correct answers Evaluate potential suppliers
The SciQuest video focuses on what type of solution for reducing time and saving money?
correct answers e-procurement
According to this week's reading "Strategic Sourcing: Building a Foundation for Success," the
risks of buying the wrong items, services or from the wrong supplier has little impact or ripple
effect on a business. correct answers False
The purchase of a product, part, or component from an outside supplier versus manufacturing it
in-house is called: correct answers Outsourcing
Strategic sourcing is an organized and collaborative approach to leveraging targeted spend across
locations with select suppliers that are best suited to create knowledge and value in the customer-
supplier interface. correct answers True
Which of the following is NOT a major risk when outsourcing a product? correct answers Lower
purchase cost
Strategic sourcing focuses on all of the following EXCEPT: correct answers Minimizing unit
cost
Goods that are consumed as part of the production process but are not product components are
called: correct answers Indirect materials
The purchase of merchandise or services at the optimum possible total cost in the correct amount
and quality correct answers procurement
, Request for quotes and direct negotiations with suppliers take place during which step in the
procurement process? correct answers Supplier selection
According to this week's article, cost reduction is typically the primary goal of most Strategic
Sourcing initiatives correct answers True
Because companies spend more than half their revenue on purchases of goods and services, they
should strategically manage key sources of supply to reduce the total cost of materials and
services. correct answers True
Why would a company choose to keep production in-house instead of buying them from an
external supplier? correct answers It has internal expertise and capacity
In the industry in action video, which company focuses on corporate social responsibility in its
procurement process? correct answers Bombardier
Which of the following is not a goal of production? correct answers Rigidity- singular focus on
efficiency
Finished goods, services, and parts that are created by the transformation process are called
________. correct answers Outputs
Which production strategy mass produces goods to forecast and ships it to markets in
anticipation of demand? correct answers Push strategy
The lean production philosophy embodies all of the following objectives EXCEPT: correct
answers Push standardized products to customers with a high volume production line.
A batch production process focuses on creating a single product before the next one is initiated.
It relies on heavy automation and offers great customization opportunities. correct answers False
In a production process, people, materials, and facilities are examples of: correct answers Inputs
Supply chains only focus on the production of goods. correct answers False
Production is the process by which inputs are combined, transformed, and turned into goods and
services. correct answers True
The KIA plant highlighted in the Episode 6 video is a good example of a process layout. correct
answers False
Innovative manufacturing strategies avoid mass production methods in favor of lean and mass
customization capabilities so that products can be pulled to market by customer demand. correct
answers True
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