Exam (elaborations)
BUAD 331 Exam 2 with Verified Solutions
- Course
- Institution
BUAD 331 Exam 2 with Verified Solutions
[Show more]
Content preview
BUAD 331 Exam 2 with Verified SolutionsA dollar saved in material costs goes directly to an increase in revenue for the organization.
A. True
B. False Correct Ans-B. False
You are working as a Procurement Manager for a Fortune 500 company and are in charge of
buying a new make and model of work computers for the entire company headquarters. You
know it will be an expensive purchase, but have many options to choose from so you can
make the computer manufacturers bid against each other to get the best price. Which type of
commodity are these computers?
A. Noncritical Commodity
B. Strategic Commodity
C. Leverage Commodity
D. Bottleneck Commodity Correct Ans-C. Leverage Commodity
Purchasing has become a strategic contributor to organizational value by contributing to both
the top and bottom line of the business.
A. True
B. False Correct Ans-A. 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.
A. True
, BUAD 331 Exam 2 with Verified Solutions
B. False Correct Ans-A. True
Supplier portfolio analysis was introduced by Michael Porter.
A. True
B. False Correct Ans-B. False
An item with high market complexity and low importance to the organization should be
classified as:
A. Non-critical
B. Leverage
C. Strategic
D. Bottleneck
E. None of the above Correct Ans-D. Bottleneck
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?
A. Partnerships
B. Six Sigma Projects
C. Negotiations
D. Scorecards
E. Sourcing Projects Correct Ans-D. Scorecards
, BUAD 331 Exam 2 with Verified Solutions
The key to effective procurement strategy is ______ of suppliers and ___________
management.
A. Comparison, aligned
B. Segmentation, strategically appropriate
C. Strengthening, customer-focused
D. Disconnection, dishonest Correct Ans-B. 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?
A. Leverage Items
B. Strategic Items
C. Mosaic Items
D. Pertinent Items
E. Expendable Items Correct Ans-B. Strategic Items
How can purchasing add value to an organization?
A. By ensuring an uninterrupted flow of materials or services
B. By reducing the total cost of products
C. By collaborating with other areas such as logistics on supplier location decisions.
D. By increasing revenue through supplier innovation and new product launch
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 TheeGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now