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Chapter11ProcurementandSupplierManagement
TrueorFalse
5. The best use of buyers time is sourcing, negotiating, value analysis, and
contracting.
a. True
b. False
8. A certified supplier normally engages with the buyer in joint research and
development.
a. True
b. False
10. Strategically sourced items are subject to wide market fluctuations and
changes in customer and competitor trends and pricing.
a. True
b. False
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MultipleChoice
11. Which of the following is the next step in the purchasing cycle after a
requisition is generated?
a. Follow up
b. Approve payment
c. Issue purchase order
d. Receive goods
15. The use of supply chain partners to provide products or services is called:
a. Outsourcing
b. Insourcing
c. Offshoring
d. Partnering
16. A key advantage provided by outsourcing is that it:
a. Increases company control over internal processes
b. Increases the companys access to state-of-the-art products and processes
c. Protects the companys proprietary designs and processes
d. Encourages the development of the companys core competencies
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c. Variable overhead
d. Price from invoice
19. The following are all functional responsibilities of the buyer EXCEPT
a. Sourcing
b. Following up on supply deliveries
c. Negotiating prices
d. Coordinating supplier evaluation
20. Buyers can assure the timely supply of quality goods and services through
a. Managing inventory investment
b. Timely purchase order release
c. Alternate sourcing
d. Communicating accurate schedules to suppliers
24. Which purchasing method assumes the lowest level of operational integration
between supplier and customer?
a. Blanket order releases
b. Purchase order
c. Lean/JIT purchasing
d. Consignment inventory
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28. The most desirable attribute in suppliers of companies that adopt JIT
production is
a. On-time delivery
b. Quantity received to quantity ordered
c. Consistent quality
d. Competitive pricing
29. In this purchasing method, the buyer commits to purchase a fixed percentage
of the companys inventory requirements in exchange for quality, price,
availability, and delivery considerations.
a. Requirements contract
b. Blanket purchase order
c. Discrete purchase order
d. Direct-ship purchase order
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Answer Key
1. T
2. F
3. F
4. F
5. T
6. T
7. T
8. T
9. F
10. T
11. c
12. c
13. c
14. b
15. a
16. b
17. d
18. b
19. b
20. c
21. b
22. d
23. b
24. b
25. a
26. b
27. a
28. c
29. a
30. b