Question 1

Event management is the advanced planning required for major performances such as concerts or conferences.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a barrier to the integration of separate organizations in the supply chain?
(I)  conflicting objectives of the companies in the chain
(II)  different capacity levels of the companies in the chain
(III)  reluctance of the organizations in the chain to allow other organizations access to their data

Accepted Answer

A)   I only
B)   I and II
C)   II and III
D)   I and III
E)   I, II, and IIIF) A) and D)
G) B) and C)

Question 3

Strategic partnering is encouraged when two or more business organizations have complementary products or services that would benefit the others.

Accepted Answer

A) True 
 B)False

Question 4

The interface between the firm and its suppliers is:

Accepted Answer

A)   purchasing.
B)   production.
C)   distribution.
D)   engineering.
E)   accounting.F) B) and D)
G) B) and C)

Question 5

The service function of purchasing interfaces with many areas, including legal, accounting, and engineering functions.

Accepted Answer

A) True 
 B)False

Question 6

Creating an effective supply chain requires linking the marketing, distribution, and supplier channels.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is a principle required for ethical behavior in purchasing?
(I)  loyalty to employer
(II)  justice to those you deal with
(III)  faith in your profession

Accepted Answer

A)   III only
B)   I only
C)   II only
D)   I, II, and III
E)   II and III onlyF) All of the above
G) A) and E)

Question 8

Which of the following would not usually be a main factor in selecting a vendor?

Accepted Answer

A)   location
B)   price
C)   quality
D)   inventory turnover
E)   vendor servicesF) All of the above
G) A) and B)

Question 9

Which of the following is not true of vendor analysis?

Accepted Answer

A)   It involves an examination of the function of purchased parts or raw materials.
B)   Its purpose is to reduce costs and/or improve performance of purchased goods or services.
C)   It is usually performed only periodically.
D)   Representatives from design and operations may work with purchasing.
E)   If improvements are identified, purchasing implements those that purchasing agrees are justified.F) A) and E)
G) B) and C)

Question 10

Vendor analysis examines the function of purchased parts and materials with a view toward improvement or cost reduction.

Accepted Answer

A) True 
 B)False

Question 11

Strategies to address supply chain risks include:
(I)  risk avoidance.
(II)  risk reduction.
(III)  risk projection.
(IV)  risk sharing.

Accepted Answer

A)   I, II, and IV only
B)   II and III only
C)   I and IV only
D)   II and IV only
E)   I, II, III, and IVF) A) and B)
G) A) and C)

Question 12

A company's supply chain involves the flow of materials and information from suppliers, through production, to the end users.

Accepted Answer

A) True 
 B)False

Question 13

A 30 percent reduction in product and service variety will not affect the efficiency of a supply chain.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is not a measure of the reliability of the supply chain?

Accepted Answer

A)   supply chain response time
B)   on-time delivery
C)   fill rate
D)   lead time variability
E)   improving e-fulfillment statisticsF) A) and B)
G) All of the above

Question 15

Global supply chains make purchasing easier because there are more options.

Accepted Answer

A) True 
 B)False

Question 16

Some firms have structured their procurement function to include both centralized and decentralized purchasing.

Accepted Answer

A) True 
 B)False

Question 17

E-commerce involves business-to-business (B2B) interaction only.

Accepted Answer

A) True 
 B)False

Question 18

Inventory velocity refers to the average speed (in miles/hour) of material handling equipment in a warehouse.

Accepted Answer

A) True 
 B)False

Question 19

The importance of purchasing relates only to the cost of parts and materials purchased, which is often 60 percent or more of the cost of finished goods.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not a goal of supply chain management?

Accepted Answer

A)   fewer suppliers and long-term relationships
B)   small lot sizes
C)   on-time deliveries
D)   lowest possible transportation costs
E)   delivery often to the place of useF) A) and B)
G) C) and D)

Exam 15: Supply Chain Management

The service function of purchasing interfaces with many areas, including legal, accounting, and engineering functions.

Correct Answer
verified

Event management is the advanced planning required for major performances such as concerts or conferences.

Correct Answer
verified

Which of the following is a principle required for ethical behavior in purchasing? (I) loyalty to employer (II) justice to those you deal with (III) faith in your profession

Correct Answer
verified

The importance of purchasing relates only to the cost of parts and materials purchased, which is often 60 percent or more of the cost of finished goods.

Correct Answer
verified

Global supply chains make purchasing easier because there are more options.

Correct Answer
verified

Strategic partnering is encouraged when two or more business organizations have complementary products or services that would benefit the others.

Correct Answer
verified

Which of the following would not usually be a main factor in selecting a vendor?

Correct Answer
verified

Creating an effective supply chain requires linking the marketing, distribution, and supplier channels.

Correct Answer
verified

The interface between the firm and its suppliers is:

Correct Answer
verified

Some firms have structured their procurement function to include both centralized and decentralized purchasing.

Correct Answer
verified

Which of the following is not a goal of supply chain management?

Correct Answer
verified

Vendor analysis examines the function of purchased parts and materials with a view toward improvement or cost reduction.

Correct Answer
verified

E-commerce involves business-to-business (B2B) interaction only.

Correct Answer
verified

Strategies to address supply chain risks include: (I) risk avoidance. (II) risk reduction. (III) risk projection. (IV) risk sharing.

Correct Answer
verified

Inventory velocity refers to the average speed (in miles/hour) of material handling equipment in a warehouse.

Correct Answer
verified

Correct Answer
verified

A 30 percent reduction in product and service variety will not affect the efficiency of a supply chain.

Correct Answer
verified

Which of the following is not a measure of the reliability of the supply chain?

Correct Answer
verified

Which of the following is not true of vendor analysis?

Correct Answer
verified

A company's supply chain involves the flow of materials and information from suppliers, through production, to the end users.

Correct Answer
verified

Exam 15: Supply Chain Management

The service function of purchasing interfaces with many areas, including legal, accounting, and engineering functions.

Correct AnswerverifiedShow Answer

Event management is the advanced planning required for major performances such as concerts or conferences.

Correct AnswerverifiedShow Answer

Which of the following is a principle required for ethical behavior in purchasing? (I) loyalty to employer (II) justice to those you deal with (III) faith in your profession

Correct AnswerverifiedShow Answer

The importance of purchasing relates only to the cost of parts and materials purchased, which is often 60 percent or more of the cost of finished goods.

Correct AnswerverifiedShow Answer

Global supply chains make purchasing easier because there are more options.

Correct AnswerverifiedShow Answer

Strategic partnering is encouraged when two or more business organizations have complementary products or services that would benefit the others.

Correct AnswerverifiedShow Answer

Which of the following would not usually be a main factor in selecting a vendor?

Correct AnswerverifiedShow Answer

Creating an effective supply chain requires linking the marketing, distribution, and supplier channels.

Correct AnswerverifiedShow Answer

The interface between the firm and its suppliers is:

Correct AnswerverifiedShow Answer

Some firms have structured their procurement function to include both centralized and decentralized purchasing.

Correct AnswerverifiedShow Answer

Which of the following is not a goal of supply chain management?

Correct AnswerverifiedShow Answer

Vendor analysis examines the function of purchased parts and materials with a view toward improvement or cost reduction.

Correct AnswerverifiedShow Answer

E-commerce involves business-to-business (B2B) interaction only.

Correct AnswerverifiedShow Answer

Strategies to address supply chain risks include: (I) risk avoidance. (II) risk reduction. (III) risk projection. (IV) risk sharing.

Correct AnswerverifiedShow Answer

Inventory velocity refers to the average speed (in miles/hour) of material handling equipment in a warehouse.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A 30 percent reduction in product and service variety will not affect the efficiency of a supply chain.

Correct AnswerverifiedShow Answer

Which of the following is not a measure of the reliability of the supply chain?

Correct AnswerverifiedShow Answer

Which of the following is not true of vendor analysis?

Correct AnswerverifiedShow Answer

A company's supply chain involves the flow of materials and information from suppliers, through production, to the end users.

Correct AnswerverifiedShow Answer

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