QMB 3200 MIDTERM EXAM NEWEST
ACTUAL EXAM (2 VERSIONS) WITH
COMPLETE QUESTIONS AND DETAILED
ANSWERS GRADED A | 100% VERIFIED
VERSION A
In the M/M/1 model, ____________ represents the average
number of services that can be completed in a designated time
interval. - ✔✔✔ Correct Answer > u
An ability that distinguishes a business from its competitors is a
- ✔✔✔ Correct Answer > core competency
CHAPTER 7&9 - ✔✔✔ Correct Answer >
Among the supply chain frameworks that companies may use
for reference, metrics, and standardization, the SCOR model
generally works best for? - ✔✔✔ Correct Answer > tangible
goods providers
,Which is one of the objectives of a spend analysis? - ✔✔✔
Correct Answer > to determine whether any goods or services
would benefit from consolidation into larger categories of
purchasing.
One way of evaluating supply chain performance is a krajic
matrix, which helps with - ✔✔✔ Correct Answer > supplier
positioning
What are the most two commonly used tender evaluation
methods? - ✔✔✔ Correct Answer > linear averaging and lowest
price
Multiple suppliers, manufacturers, and/or service providers
may be involved in any product, with each business relying on
other suppliers and providers. This is an example of . - ✔✔✔
Correct Answer > a supply chain
Which organizational structure is often adopted by
organizations using a decentralized organizational policy? -
✔✔✔ Correct Answer > matrix structure
,Frank works for a paper company that supplies paper to
greeting card manufacturers. In this scenario, his company
participates in ___________ sales. - ✔✔✔ Correct Answer >
B2B
The text describes three types of negotiation in the purchasing
process as - ✔✔✔ Correct Answer > soft,hard,principled
In the business world, a legal obligation known as
____________ is made when _____________ is accepted
between two capable parties. - ✔✔✔ Correct Answer > a
contract; an offer
What U.S. regulation made it illegal to conspire or collude to
restrict competition, such as price fixing among suppliers or
group boycotts? - ✔✔✔ Correct Answer > the Sherman Anti
Trust Act
Sustainability and profitability become less distinguishable in
operating a supply chain - ✔✔✔ Correct Answer > the longer
the planning horizon
, The term_________refers to all acquisitions of outside goods
and services, and thus includes both purchasing and other
forms of acquisition, such as trading, recycling, or extracting. -
✔✔✔ Correct Answer > procurement
Outsourcing is limited to production of goods and components.
- ✔✔✔ Correct Answer > False
The Critical Path Method(CPM) of project management begins
with the logical assumption that task times are________. -
✔✔✔ Correct Answer > deterministic
Drawing an AON network requires representing each activity as
a standard shape and joining these shapes with arcs indicating
_______. - ✔✔✔ Correct Answer > precedence relationships
________is a degree to which a task may be delayed from its
early start without delaying the project. - ✔✔✔ Correct Answer
> Slack
Use of late start and late finish timings is known more generally
as _________, referring to the fact that the last possible finish
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