Question 1

Logistics is a term indicating transportation choices for goods produced internationally but consumed domestically.

Accepted Answer

A) True 
 B)False

Question 2

The total value of all items held in inventory for the firm valued at cost is which of the following?

Accepted Answer

A)  Cost of goods to be sold 
B)  Average aggregate inventory value 
C)  Weeks supply of goods 
D)  Inventory turnover 
E)  None of these choices are correct 
A)  Cost of goods to be sold 
B)  Average aggregate inventory value 
C)  Weeks supply of goods 
D)  Inventory turnover 
E)  None of these choices are correct

Question 3

These are supply chains that try to share the chances of a supply chain disruption.

Accepted Answer

A)  Efficient supply chains 
B)  Risk-hedging supply chains 
C)  Responsive supply chains 
D)  Agile supply chains 
E)  Vendor-managed supply chains 
A)  Efficient supply chains 
B)  Risk-hedging supply chains 
C)  Responsive supply chains 
D)  Agile supply chains 
E)  Vendor-managed supply chains

Question 4

Commonality refers to how common the item is and, in a relative sense, how many substitutes might be available.

Accepted Answer

A) True 
 B)False

Question 5

Two common measures to evaluate supply chain efficiency are the inventory turnover and weeks-of-supply ratios.

Accepted Answer

A) True 
 B)False

Question 6

Retailer behavior when stocking up during promotion periods (where the prices of goods are reduced) is called backward buying.

Accepted Answer

A) True 
 B)False

Question 7

These are supply chains that utilize strategies aimed at being flexible in the face of the changing and diverse needs of the customers.

Accepted Answer

A)  Efficient supply chains 
B)  Risk-hedging supply chains 
C)  Responsive supply chains 
D)  Agile supply chains 
E)  Vendor-managed supply chains 
A)  Efficient supply chains 
B)  Risk-hedging supply chains 
C)  Responsive supply chains 
D)  Agile supply chains 
E)  Vendor-managed supply chains

Question 8

Which of the following is an improvement-driven reason for outsourcing?

Accepted Answer

A)  Shorten cycle time. 
B)  Improve effectiveness by focusing on what the firm does best. 
C)  Increase product and service value by improving response to customer needs. 
D)  Turn fixed costs into variable costs. 
E)  Reduce costs through a lower cost structure. 
A)  Shorten cycle time. 
B)  Improve effectiveness by focusing on what the firm does best. 
C)  Increase product and service value by improving response to customer needs. 
D)  Turn fixed costs into variable costs. 
E)  Reduce costs through a lower cost structure.

Question 9

The total cost of ownership (TCO) is an estimate of the cost of an item that includes all the costs related to the procurement and use of an item, but it does not include any of the costs related to disposing of the item after it is no longer useful.

Accepted Answer

A) True 
 B)False

Question 10

Ownership costs include which of the following costs?

Accepted Answer

A)  Environmental costs 
B)  Warranty costs 
C)  Supply chain costs 
D)  Quality costs 
E)  Taxes 
A)  Environmental costs 
B)  Warranty costs 
C)  Supply chain costs 
D)  Quality costs 
E)  Taxes

Question 11

In the sourcing/purchasing design matrix, there are three variables: contract duration, transaction costs, and specificity. Assume levels as short, medium and long for contract duration and for the rest, low, medium, and high. Vendor managed inventory belongs to

Accepted Answer

A)  long contract duration, high transaction costs and low specificity. 
B)  short contract duration, high transaction costs and low specificity. 
C)  long contract duration, low transaction costs and low specificity. 
D)  long contract duration, high transaction costs and high specificity. 
E)  long contract duration, low transaction costs and high specificity. 
A)  long contract duration, high transaction costs and low specificity. 
B)  short contract duration, high transaction costs and low specificity. 
C)  long contract duration, low transaction costs and low specificity. 
D)  long contract duration, high transaction costs and high specificity. 
E)  long contract duration, low transaction costs and high specificity.

Question 12

In Hau Lee's uncertainty framework to classify supply chains, a supply chain for innovative products with a stable supply process is called which of the following?

Accepted Answer

A)  Efficient 
B)  Forward looking 
C)  Agile 
D)  Risk hedging 
E)  Responsive 
A)  Efficient 
B)  Forward looking 
C)  Agile 
D)  Risk hedging 
E)  Responsive

Question 13

A stable supply process is one where the manufacturing process and the underlying technology are mature and the supply base is well established.

Accepted Answer

A) True 
 B)False

Logistics is a term indicating transportation choices for goods produced internationally but consumed domestically.

The total value of all items held in inventory for the firm valued at cost is which of the following?

These are supply chains that try to share the chances of a supply chain disruption.

Commonality refers to how common the item is and, in a relative sense, how many substitutes might be available.

Two common measures to evaluate supply chain efficiency are the inventory turnover and weeks-of-supply ratios.

Retailer behavior when stocking up during promotion periods (where the prices of goods are reduced) is called backward buying.

These are supply chains that utilize strategies aimed at being flexible in the face of the changing and diverse needs of the customers.

Which of the following is an improvement-driven reason for outsourcing?

The total cost of ownership (TCO) is an estimate of the cost of an item that includes all the costs related to the procurement and use of an item, but it does not include any of the costs related to disposing of the item after it is no longer useful.

Ownership costs include which of the following costs?

In the sourcing/purchasing design matrix, there are three variables: contract duration, transaction costs, and specificity. Assume levels as short, medium and long for contract duration and for the rest, low, medium, and high. Vendor managed inventory belongs to

In Hau Lee's uncertainty framework to classify supply chains, a supply chain for innovative products with a stable supply process is called which of the following?

A stable supply process is one where the manufacturing process and the underlying technology are mature and the supply base is well established.

Introduction

Strategy

Design of Products and Services

Projects

Strategic Capacity Management

Learning Curves

Manufacturing Processes

Facility Layout

Service Processes

Waiting Line Analysis and Simulation

Process Design and Analysis

Six Sigma Quality

Statistical Quality Control

Lean Supply Chains

Logistics, Distribution, and Transportation

The Internet of Things and Erp

Forecasting

Sales and Operations Planning

Inventory Management

Material Requirements Planning

Workcenter Scheduling

Filters

Exam 16: Global Sourcing and Procurement

Logistics is a term indicating transportation choices for goods produced internationally but consumed domestically.

The total value of all items held in inventory for the firm valued at cost is which of the following?

These are supply chains that try to share the chances of a supply chain disruption.

Commonality refers to how common the item is and, in a relative sense, how many substitutes might be available.

Two common measures to evaluate supply chain efficiency are the inventory turnover and weeks-of-supply ratios.

Retailer behavior when stocking up during promotion periods (where the prices of goods are reduced) is called backward buying.

These are supply chains that utilize strategies aimed at being flexible in the face of the changing and diverse needs of the customers.

Which of the following is an improvement-driven reason for outsourcing?

The total cost of ownership (TCO) is an estimate of the cost of an item that includes all the costs related to the procurement and use of an item, but it does not include any of the costs related to disposing of the item after it is no longer useful.

Ownership costs include which of the following costs?

In the sourcing/purchasing design matrix, there are three variables: contract duration, transaction costs, and specificity. Assume levels as short, medium and long for contract duration and for the rest, low, medium, and high. Vendor managed inventory belongs to

In Hau Lee's uncertainty framework to classify supply chains, a supply chain for innovative products with a stable supply process is called which of the following?

A stable supply process is one where the manufacturing process and the underlying technology are mature and the supply base is well established.

Introduction

Strategy

Design of Products and Services

Projects

Strategic Capacity Management

Learning Curves

Manufacturing Processes

Facility Layout

Service Processes

Waiting Line Analysis and Simulation

Process Design and Analysis

Six Sigma Quality

Statistical Quality Control

Lean Supply Chains

Logistics, Distribution, and Transportation

The Internet of Things and Erp

Forecasting

Sales and Operations Planning

Inventory Management

Material Requirements Planning

Workcenter Scheduling

Filters