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Terms in this set (102)1. ____ refers to the raw materials, component parts, and supplies bought from outside organizations to support a company's operations. b. procurement 2. Procurement costs often range between ____ of an organization's revenues.
a. 60-80% 3. Procurement's historical focus in many organizations was to ____. d. achieve the lowest possible cost 4. Procurement and ____ are viewed as synonymous terms c. purchasing 5. Which of the following is not a potential benefit associated with procurement cards (p-cards)? d. ability to use them in non-domestic markets 6. Which of the following is not a potential challenge of using procurement cards (p-cards) in non-domestic markets? e. all of the above are challenges 7. Which of the following is not a potential procurement objective? a. minimizing procurement costs 8. A focus on satisfying internal customers is associated with which procurement objective? b. supporting operational requirements 9. Buying the right products, at the right price, from the right source, at the right specifications, in the right quantity, for delivery at the right time to the right internal customer is associated with what procurement objective? c. supporting operational requirements 10. With respect to the supplier selection and evaluation process, ____ looks at both the internal and external environment within which the supply decision is to be made. c. situation analysis 11. The text outlines a supplier selection and evaluation process that consists of ____ steps. b. 5 12. What is the final step in the supplier selection and evaluation process? d. evaluate decision 13. Multiple sourcing uses more than one supplier in hopes of increased competition, improved market intelligence, and ____ a. greater supply risk mitigation 14. Single sourcing consolidates purchase volume with a single supplier in hopes of increasing cooperation and communication in the supply relationship as well as ____. d. lower costs per unit 15. Which of the following statements is false? c. selecting suppliers is the final step of the supplier selection and evaluation process 16. Kraljic's Portfolio Matrix ____. b. is used by many managers to classify corporate purchases in terms of their importance and supply complexity 17. Which of the following is not a category associated with Kraljic's Portfolio Matrix? e. all of the above are categories associated with Kraljic's Portfolio Matrix 18. A degree of aggressive procurement involvement not normally encountered in supplier selection refers to ____. b. supplier development 19. Supplier development is synonymous with ____. d. reverse marketing 20. Which of the following is not a reason for why purchasers are adopting a more proactive and aggressive role in the procurement process? c. an excess number of suppliers currently exist 21. Which of the following is false? e. all of the above are true 22. What is the first step in a global sourcing development model? a. planning 23. ____ is often a major shortcoming to many global procurement plans. c. implementation 24. What concept refers to when firms consider all the costs that can be assigned to the acquisition, use, and maintenance of a purchase? d. total cost of ownership 25. Procuring products from suppliers close to one's own facilities refers to ____. b. near-sourcing 26. Which of the following is not a dimension associated with socially responsible procurement? a. profit 27. With respect to gift giving and gift receiving, ____ refers to money paid before an exchange. c. a bribe 28. With respect to gift giving and gift receiving, ____ refers to money paid after an exchange. a. a kickback 29. ____ identifies opportunities to recover revenues or reduce costs associated with scrap, surplus, obsolete, and waste materials. d. investment recovery 30. ____ materials refer to stock that exceeds the reasonable requirements of an organization. b. excess 31. ____ materials are no longer serviceable, have been discarded, or are a by-product of the production process. c. scrap 32. ____ materials have no economic value. a. waste 1. The creation across the supply chain and its markets of a coordinated flow of demand is the definition of ____. c. demand management 2. Which of the following is not a basic type of demand forecasting model? a. exponential smoothing 3. Surveys and analog techniques are examples of ____ forecasting. d. judgmental 4. An underlying assumption of ____ forecasting is that future demand is dependent on past demand. b. time series 5. Which forecasting technique assumes that one or more factors are related to demand and that this relationship can be used to estimate future demand? c. cause and effect
6. Which forecasting technique tends to be appropriate when there is little or no historical data? b. judgmental 7. Which of the following is true? b. one challenge to collaborative planning, forecasting, and replenishment is getting supply chain partners to share data 8. ____ refers to the management of various activities associated with the order cycle. d. order management 9. The order cycle is ____. c. also called the replenishment cycle 10. The order cycle is composed of each of the following except: a. order retrieval 11. Which of the following is false? e. all of the above are true 12. Order transmittal is ____. b. the series of events that occur between the time a customer places an order and the time the seller receives the order 13. In general, there are ____ possible ways to transmit orders. c. five
14. Which of the following is not a possible method of order transmittal? e. all of the above are methods of order transmittal 15. ____ refers to the time from when the seller receives an order until an appropriate location is authorized to fill the order. a. order processing 16. Classifying orders according to pre-established guidelines so that a company can prioritize how orders are to be filled refers to ____. d. order triage 17. Order picking and assembly is: c. the order cycle component that follows order processing 18. The text suggests that ____ often represents the best opportunity to improve the effectiveness and efficiency of an order cycle. b. order picking and assembly 19. Which of the following is not a characteristic of contemporary voice-based order picking systems? a. easily disrupted by other noises 20. Which of the following is not a characteristic of advances in order pick technology? d. fewer employee accidents 21. The final phase of the order cycle is called order ____. b. delivery 22. The time span within which an order must arrive refers to ____. c. delivery window 23. A commonly used rule of thumb is that it costs approximately ____ times as much to get a new customer as it does to keep an existing customer. c. five 24. An unhappy customer will tell ____ other people about her/his unhappiness. b. nine 25. The ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience is the definition of ____. a. customer service 26. Which of the following is not a dimension of customer service? e. all of the above are dimensions 27. The percentage of orders that can be completely and immediately filled from existing stock is the ____ rate. d. order fill 28. What component of customer service focuses on the ease of doing business with a seller? a. convenience 29. What are multichannel marketing systems? b. separate marketing channels that serve an individual customer 30. Which of the following statements is false? d. goals should be specific, measurable, achievable, and cost effective 31. ____ refers to a process that continuously identifies, understands, and adapts outstanding processes inside and outside an organization. c. benchmarking 32. ____ is the process of taking corrective action when measurements indicate that the goals and objectives of customer service are not being achieved. c. control 33. Which statement about measuring customer service is true? d. it is possible for organizations to use only one customer service metric 34. ____ refers to the allocation of revenues and costs to customer segments or individual customers to calculate the profitability of the segments or customers. a. customer profitability analysis 35. Which of the following statements is false? b. approximately 40% of customers who experience a problem with purchases of less than $5 will not do business with that company again 1. Product density refers to a product's ____. c. weight per volume 2. Which of the following statements is false? a. a product's chemical characteristics have little to no influence on the way the product is handled 3. Which of the following statements regarding perishable products is false? e. all of the above are true 4. The building blocks concept is associated with which logistics function? b. packaging 5. ____ refers to materials used for the containment, protection, handling, delivery, and presentation of goods. d. packaging 6. Each of the following is a shipping hazard that a package may be exposed to except ____. a. retraction
7. Which of the following is false? b. pictures are preferable to words for labeling a product 8. As a general rule, labeling requirements and enforcement tends to be more stringent in ____ countries than in ____ countries. c. economically developed; economically developing 9. The Globally Harmonized System of Classification and Labeling of Chemicals (GHS) was developed by the ____. d. United Nations 10. Which of the following is not a key piece of classification and labeling information provided by the Globally Harmonized System of Classification and Labeling of Chemicals (GHS)? b. a picture of the chemical or hazardous material 11. Over 80% of customers view packaging as ____. d. a major environmental issue 12. Biodegradable plastics cost ____ as much as conventional plastics. a. two times 13. Which of the following is not a characteristic of plastic packaging? a. lack of versatility
14. Which of the following is not an environmentally-friendly packaging strategy that firms might adopt? e. all of the above are strategies 15. ____ systems consider the reverse flow of products, their reuse, and the marketing and distribution of recovered products. c. closed-loop 16. How many countries in the world do not currently use the metric system of measurement? b. three 17. Which of the following is not a logistical consequence of packaging inefficiency? e. all of the above are logistical consequences 18. What has been described as the "last frontier" of logistics savings opportunities? c. packaging inefficiencies 19. A "box-maker's certificate" ____. d. assures railroads and motor carriers that boxes are sufficiently sturdy to meet their handling requirements 20. What organization regulates the packaging of international air shipments? a. International Air Transport Association
21. A unit load involves ____. d. consolidation of several units into larger units to improve efficiency in handling and to reduce shipping costs 22. A major advantage of the unit load is ____. b. mechanical devices can be substituted for manual labor 23. Which of the following is false? e. all of the above are true 24. The ____ has established six international pallet size standards. c. International Standards Organization 25. The basic unit in unit loading is a ____. c. pallet 26. A major drawback to metal and plastic pallets is their ____. b. price 27. ____ pounds is the approximate weight at which there is a noticeable increase in injuries, particularly back injuries, from manual handling. c. 50 28. From a space utilization perspective, one pallet occupies ____ times more space than a plastic slip sheet. a. 80 29. ____ refers to the short distance movement that usually takes place within the confines of a building such as a plant or distribution center and between a building and a transportation service provider. d. materials handling 30. With respect to density, a vehicle loaded with ____ is most likely to cube out (cubic capacity is filled before reaching its weight capacity). b. coal 31. A dry bulk material's ____ is important for determining the quantity that can be stored in a given location. c. angle of repose 32. ____ refers to the interaction between workers and workplace conditions. d. ergonomics 33. The total cost of ownership is associated with which of the 10 materials handling principles? a. life cycle cost principle 34. It is important that the materials handling equipment be aligned with an organization's objectives, customers, and ____. c. products 35. Which of the following is false? b. automation refers to equipment that complements, rather than replaces, human contact Students also viewedChapter 6: Procurement (Multi)32 terms shadowcross Supply Chain- ch. 739 terms cadelman19jcu Chapter 7 - TB31 terms svyatoslav_epifanov2 Chapter 6: Procurement (True/False)40 terms shadowcross Sets found in the same folderchapter 8, 9, 10,14139 terms betty_spagheti Exam 3 Chapter 10 Warehousing Management (Multi)35 terms shadowcross Chapter 6: Procurement (Multi)32 terms shadowcross SCLT Test222 terms rebekah_r_moore Other sets by this creatorexam 250 terms betty_spagheti quiz 1060 terms betty_spagheti Ch 12, 1370 terms betty_spagheti chapter 5 logistics19 terms betty_spagheti Verified questions
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finance Determine which accounting principle or assumption best describes each of the following practices: **a.** If $51,000 cash is paid to buy land, the land is reported on the buyer’s balance sheet at$51,000. **b.** Alissa Kees owns both Sailing Passions and Dockside Supplies. In preparing financial statements for Dockside Supplies, Kees makes sure that the expense transactions of Sailing Passions are kept separate from Dockside’s transactions and financial statements. **c.** In December 2010, Ace Landscaping received a customer’s order and cash prepayment to install sod at a new house that would not be ready for installation until March 2011. Ace should record the revenue from the customer order in March 2011, not in December 2010. Verified answer Recommended textbook solutions Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions
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What term refers to the total cost of buying using and disposing of an item?Total cost of ownership (TCO) is an estimation of the expenses associated with purchasing, deploying, using and retiring a product or piece of equipment. TCO, or actual cost, quantifies the cost of the purchase across the product's entire lifecycle.
What is the third step in the supplier selection and evaluation process?Step 3: Tender Qualification
A market assessment provides an opportunity to validate your requirements against what is available in the market, build relationships with potential suppliers, and demonstrate that you are serious about tendering.
What is the definition of sourcing quizlet?Sourcing is continually gather information on availability of suppliers and goods, prices, and new products and technology. Maverick Buying. Practice where internal users attempt to buy directly from suppliers and bypass the sourcing function. Total Cost of Ownership (TOC)
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Procuring products from suppliers close to one’s own facilities refers to ____.
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