Question 1

Wall Street recognizes and rewards firms that achieve higher return-on-investment.

Accepted Answer

A) True 
 B)False

Question 2

Strategic working relationships between buyers and suppliers will not have to change for increased value creation.

Accepted Answer

A) True 
 B)False

Question 3

Firms, not supply chains, compete.

Accepted Answer

A) True 
 B)False

Question 4

Strong hard-side skills, such as a collaborative working style, innovative supply approaches and leadership abilities versus a narrow process view, will be necessary to lead supply efforts and achieve results.

Accepted Answer

A) True 
 B)False

Question 5

Companies will decreasingly use value-focused sourcing approaches to evaluate how a supplier or group of suppliers may be utilized to gain competitive advantage for categories with high business impact.

Accepted Answer

A) True 
 B)False

Question 6

Time-related capabilities will drive the next generation of order winners in the eyes of the customer.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is Falseregarding category strategy?

Accepted Answer

A)  Companies, in the future, will look beyond cost, quality and delivery as purchase category strategy goals. 
B)  Companies will increasingly use value-focused sourcing approaches to evaluate how a supplier or group of suppliers may be utilized to gain competitive advantage for categories with high business impact. 
C)  There will be increasing use of value chain mapping, data analytics to better understand industry trends, cost modeling and scenario planning techniques to develop, evaluate, and select from purchase category strategy alternatives. 
D)  Establishing core competencies and capabilities has influenced the strategic planning process and category strategy development at most firms. 
E)  Groups of suppliers (versus supply networks) will become an increasing focus of purchase category strategies. 
A)  Companies, in the future, will look beyond cost, quality and delivery as purchase category strategy goals. 
B)  Companies will increasingly use value-focused sourcing approaches to evaluate how a supplier or group of suppliers may be utilized to gain competitive advantage for categories with high business impact. 
C)  There will be increasing use of value chain mapping, data analytics to better understand industry trends, cost modeling and scenario planning techniques to develop, evaluate, and select from purchase category strategy alternatives. 
D)  Establishing core competencies and capabilities has influenced the strategic planning process and category strategy development at most firms. 
E)  Groups of suppliers (versus supply networks) will become an increasing focus of purchase category strategies.

Question 8

Which of the following is not one of the components of material ordering cycle time that supply chain management practices directly affect?

Accepted Answer

A)  Transmission of requirements to suppliers. 
B)  Suppliers' ordering and manufacturing cycle time. 
C)  Allocation of manufacturing overhead costs. 
D)  Delivery from suppliers. 
E)  Incoming receipt and inspection. 
A)  Transmission of requirements to suppliers. 
B)  Suppliers' ordering and manufacturing cycle time. 
C)  Allocation of manufacturing overhead costs. 
D)  Delivery from suppliers. 
E)  Incoming receipt and inspection.

Question 9

Category strategies will become less complex, requiring only internal and functional executive engagement, including review and approval.

Accepted Answer

A) True 
 B)False

Question 10

The currently dominant decentralized model for supply management will continue to be a key strategy and likely the norm for the foreseeable future.

Accepted Answer

A) True 
 B)False

Question 11

Technology and supplier selection discussion during new-product development have minimal effect on cost, quality, and product/service launch, as well as future production.

Accepted Answer

A) True 
 B)False

Question 12

Globalization will require that companies develop specific and tailored approaches to identify and hire foreign nationals.

Accepted Answer

A) True 
 B)False

Question 13

Purchasing and supply will be expected to play a growing role in sustainability efforts of the firms, many of which closely involve suppliers.

Accepted Answer

A) True 
 B)False

Question 14

An individual supplier focus (as opposed to a supply network focus) for category strategy development will be increasingly applied.

Accepted Answer

A) True 
 B)False

Question 15

Given the global nature of many businesses, especially where customer growth is coming from new and emerging markets, there is an increasing need for a centralized focus to meet unique customer needs.

Accepted Answer

A) True 
 B)False

Question 16

Overall, future purchasing and supply mission and goals will be narrower and less aligned with the strategic objectives of the firm.

Accepted Answer

A) True 
 B)False

Wall Street recognizes and rewards firms that achieve higher return-on-investment.

Strategic working relationships between buyers and suppliers will not have to change for increased value creation.

Firms, not supply chains, compete.

Strong hard-side skills, such as a collaborative working style, innovative supply approaches and leadership abilities versus a narrow process view, will be necessary to lead supply efforts and achieve results.

Companies will decreasingly use value-focused sourcing approaches to evaluate how a supplier or group of suppliers may be utilized to gain competitive advantage for categories with high business impact.

Time-related capabilities will drive the next generation of order winners in the eyes of the customer.

Which of the following statements is Falseregarding category strategy?

Which of the following is not one of the components of material ordering cycle time that supply chain management practices directly affect?

Category strategies will become less complex, requiring only internal and functional executive engagement, including review and approval.

The currently dominant decentralized model for supply management will continue to be a key strategy and likely the norm for the foreseeable future.

Technology and supplier selection discussion during new-product development have minimal effect on cost, quality, and product/service launch, as well as future production.

Globalization will require that companies develop specific and tailored approaches to identify and hire foreign nationals.

Purchasing and supply will be expected to play a growing role in sustainability efforts of the firms, many of which closely involve suppliers.

An individual supplier focus (as opposed to a supply network focus) for category strategy development will be increasingly applied.

Given the global nature of many businesses, especially where customer growth is coming from new and emerging markets, there is an increasing need for a centralized focus to meet unique customer needs.

Overall, future purchasing and supply mission and goals will be narrower and less aligned with the strategic objectives of the firm.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policy and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Category Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Contract Management

Purchasing Law and Ethics

Lean Supply Chain Management

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Filters

Exam 20: Purchasing and Supply Strategy Trends

Wall Street recognizes and rewards firms that achieve higher return-on-investment.

Strategic working relationships between buyers and suppliers will not have to change for increased value creation.

Firms, not supply chains, compete.

Strong hard-side skills, such as a collaborative working style, innovative supply approaches and leadership abilities versus a narrow process view, will be necessary to lead supply efforts and achieve results.

Companies will decreasingly use value-focused sourcing approaches to evaluate how a supplier or group of suppliers may be utilized to gain competitive advantage for categories with high business impact.

Time-related capabilities will drive the next generation of order winners in the eyes of the customer.

Which of the following statements is Falseregarding category strategy?

Which of the following is not one of the components of material ordering cycle time that supply chain management practices directly affect?

Category strategies will become less complex, requiring only internal and functional executive engagement, including review and approval.

The currently dominant decentralized model for supply management will continue to be a key strategy and likely the norm for the foreseeable future.

Technology and supplier selection discussion during new-product development have minimal effect on cost, quality, and product/service launch, as well as future production.

Globalization will require that companies develop specific and tailored approaches to identify and hire foreign nationals.

Purchasing and supply will be expected to play a growing role in sustainability efforts of the firms, many of which closely involve suppliers.

An individual supplier focus (as opposed to a supply network focus) for category strategy development will be increasingly applied.

Given the global nature of many businesses, especially where customer growth is coming from new and emerging markets, there is an increasing need for a centralized focus to meet unique customer needs.

Overall, future purchasing and supply mission and goals will be narrower and less aligned with the strategic objectives of the firm.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policy and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Category Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Contract Management

Purchasing Law and Ethics

Lean Supply Chain Management

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Filters