FINAL EXAM AND PRACTICE EXAM CANFITPRO SOLUTIONS WITH ACTUAL CORRECT DETAILED ANSWERS
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Course
SCMN 3730
Institution
SCMN 3730
FINAL EXAM AND PRACTICE EXAM CANFITPRO SOLUTIONS
WITH ACTUAL CORRECT DETAILED ANSWERS
FINAL EXAM AND PRACTICE EXAM CANFITPRO SOLUTIONS
WITH ACTUAL CORRECT DETAILED ANSWERS
FINAL EXAM AND PRACTICE EXAM CANFITPRO SOLUTIONS
WITH ACTUAL CORRECT DETAILED ANSWERS
FINAL EXAM AND PRACTICE EXAM CAN...
SCMN 3730 Exam 1 WITH ACTUAL CORRECT DETAILED
ANSWERS
What are the features of the new model of progressive purchasing?
-developing closer relationships with important suppliers
-performing due diligence on suppliers before awarding longer term contracts
-conducting worldwide internet searches for the best sources of supply
-inviting key suppliers to participate in product and process development.
What index does ISM issue monthly, and what does a score of 50 represent?
A change index report on business
A score of 50 means the market is neither expanding nor contracting
What is a value chain composed of?
Primary and secondary support activities that can lead to competitive advantage
What is meant by extended enterprise?
A company does not operate in isolation because its success is dependent upon a network of partner
relationships
Direct Materials
Items provided by suppliers and used directly during production or service delivery; specific in making a
product and its final form
What are all the functional management activities under the Supply Chain umbrella?
Purchasing
Inbound transportation
Quality control
Demand and supply planning
Receiving, materials handling, and storage
Material or inventory control
Order processing
Production planning, scheduling, and control
Shipping/Warehousing/Distribution
Outbound transportation
Customer service
, What is the average percentage of purchases to sales in the manufacturing sector?
In manufacturing, purchased content is more than 55% of revenues
Explain the relationship between outsourcing and core competencies.
Buyer focuses on core competencies and outsources non-core activities and materials
What is the difference between Purchasing / Procurement and Supply Management?
Supply management is a more broad concept than purchasing
What is the difference between a supply chain and a value chain?
The value chain is the entire production chain, and the supply chain is just a portion or subset of the
value chain process
What is meant by the term process approach?
Identifying, evaluating, selecting, managing, and developing suppliers to improve performance & moving
across functional area boundaries
What is meant by the term cross-functional?
Sharing information
Suppliers as an extension of the buying company
What is meant by the term 3PL?
Third party logistics
an independent logistics provider that performs any or all of the functions required to get a client's
product to market
What is meant by maverick spending?
-User selects different supplier than supply management has approved
-May be acceptable when there is small chance of risk
-Loss of opportunity to control cost and/or leverage purchase volume
-Exposes firm to greater risk
What are the steps in the purchasing cycle?
Identify user requirements
Evaluate user needs effectively and efficiently
Identify suppliers to meet that need
Develop agreements with suppliers
Develop ordering mechanism
Ensure payment occurs promptly
Ascertain that need was effectively met
Drive continuous improvement
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