What type of purchases should receive a supply manager's lowest priority and time commitment? correct answers Generic Goods
The tactical activity of purchasing of merchandise or service at the optimum possible total cost in the correct amount and quality is called ______. correct answers Procure...
SCMN 2150 Exam 2 || A+ Guaranteed.
What type of purchases should receive a supply manager's lowest priority and time commitment?
correct answers Generic Goods
The tactical activity of purchasing of merchandise or service at the optimum possible total cost in
the correct amount and quality is called ______. correct answers Procurement
Step 1 of the five-step procurement process correct answers identify need for material and
services
Step 2 of the five-step procurement process correct answers evaluate supplier options
Step 3 of the five-step procurement process correct answers Select best suppliers
Step 4 of the five-step procurement process correct answers release order and receive products
Step 5 of the five-step procurement process correct answers measure and manage supplier
performance
What is the final step in the procurement process? correct answers Evaluate supplier
performance
According to week 5's article, procurement managers need to focus less like cost analysts and
more like business owners. True or False correct answers True
According to the week 5 article: the focus of procurement metrics should be: correct answers
value delivery
The purchase or a product, part or component from an outside supplier versus manufacturing it in
house is called: correct answers outsourcing
What is a primary risk of poor outsourcing decisions? correct answers output quality will decline
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 material and
services. True or False correct answers True
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
The important priority of supply management is to generate a sustainable advantage through
lower costs, higher quality, and better service from your supply base. True or False correct
answers true
,According to the week 5 reading, what question will help procurement professionals drive more
value from supplier relationships?
a) how do we motivate suppliers to meet goals?
b) how do we extract more savings from out suppliers
c) How do we get more innovation from our suppliers
d) how do we inhibit the ability of suppliers to deliver value correct answers d) how do we
inhibit the ability of supplier to deliver value
According to the week 5 reading, what will drive the next wave of sourcing value? correct
answers Deeper collaboration and supplier commitment
What is the process of determining the most attractive alternative involves comparing the
internal costs avoided by outsourcing to the costs of outsourcing? correct answers make-or-buy
analysis
If production of goods is a core competency of your organization, you should: correct answers
Keep manufacturing in-house
Strategic sourcing focuses on all of the following EXCEPT:
Improving product quality
improving processes
increasing efficiency
minimizing unit cost 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 cycle begins with identification and evaluation of needs. The more expensive and
unique the goods, the more time and effort will be required. True or False correct answers True
According to the week 5 article: when sourcing services, the key capability of the supplier is
talented people. True or False correct answers True
The purchase or a product, part, or component from an outside supplier versus manufacturing it
in-house is called: correct answers outsourcing
Nike is a great manufacturing company that has little reason to outsource production of its
clothing, shoes, and equipment. True or False correct answers False
The buy process correct answers the activities that bring needed resources into an organization
What initiates the flow of material in the supply chain, making production and fulfilment
possible? correct answers the buy process
, Supply Management correct answers the identification, acquisition, access, positioning, and
management of resources and related capabilities the organization needs or potentially needs in
the attainment of its strategic objective
Supply Management focuses on: correct answers linking strategies and decisions related to the
procurement of goods and services
Strategic sourcing correct answers an institution procurement process the continuously improves
and re-evaluates the purchasing activities of a company
Strategic sourcing focuses on: correct answers improving day to day purchasing functions
Procurement correct answers the purchase of merchandise or services at the optimum possible
total cost in the correct amount and quality
what is the goal of supply management? correct answers to strategically manage sources of
supply to reduce total cost of ownership
What is the importance of supply management? correct answers the ability to generate a
sustainable advantage through lower costs, higher quality, and better service from our global
supply base of trading partners
Why is supply management important? correct answers organizations are not vertically
integrated
the supply base is geographically dispersed
the buy process can provide competitive advantage
A strong procurement process can lead to: correct answers cost reduction, improved order to
deliver timeliness, shorter product development cycles, access to supplier expertise and
technology, and improved product quality
What helps plants operate more efficiently and keeps our stores in stock? correct answers
timeliness
the buy process is important because: correct answers it can generate a sustainable advantage
through lower costs, high quality, and better service from our global supply base of trading
partners
Supply management production purchases correct answers direct materials and indirect materials
direct materials correct answers used in production processes and affect product value (includes
everything that goes into the finished goods that is being produced)
direct materials examples correct answers raw materials, component parts, modules, individual
parts
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