Question 1

List four types of auctions described in this chapter.

Accepted Answer

English auction, Yankee auction, Dutch auction, Reverse auction, sealed-bid auction, and Vickrey auction

Question 2

What is the basic order of the auctioning process?

Accepted Answer

A)  Promotion and Scheduling, Bidding, Settlement 
B)  Auction Configuration, Promotion and Scheduling, Buyer and Seller Registration, Bidding, Bid Evaluation, Settlement 
C)  Bidding, Bid Evaluation, Settlement 
D)  Buyer and Seller Registration, Promotion and Scheduling, Auction Configuration, Bid Evaluation, Bidding, Settlement 
E)  Promotion and Scheduling, Buyer and Seller Registration, Bidding, Bid Evaluation, Settlement 
A)  Promotion and Scheduling, Bidding, Settlement 
B)  Auction Configuration, Promotion and Scheduling, Buyer and Seller Registration, Bidding, Bid Evaluation, Settlement 
C)  Bidding, Bid Evaluation, Settlement 
D)  Buyer and Seller Registration, Promotion and Scheduling, Auction Configuration, Bid Evaluation, Bidding, Settlement 
E)  Promotion and Scheduling, Buyer and Seller Registration, Bidding, Bid Evaluation, Settlement B

Question 3

Eprocurement can be defined broadly as the complete business process of acquiring goods through electronic means, from requisition through to fulfillment and payment.

Accepted Answer

A) True 
 B)False  True

Question 4

A horizontal trading exchange is one that can:

Accepted Answer

A)  sell products to companies in one industry. 
B)  sell services to companies in one industry. 
C)  sell either products or services in one industry. 
D)  sell products or services to many industries. 
E)  only sell services. 
A)  sell products to companies in one industry. 
B)  sell services to companies in one industry. 
C)  sell either products or services in one industry. 
D)  sell products or services to many industries. 
E)  only sell services.

Question 5

What kind of auction does EDS Canada used to acquire contract technical staffing services after issuing a request for proposal (RFP)? Describe it.

Accepted Answer

A Reverse auction. This type o

Question 6

Horizontal trading exchanges are those which have an industry or specific market focus.

Accepted Answer

A) True 
 B)False

Question 7

Moment of truth is part of the eprocurement process.

Accepted Answer

A) True 
 B)False

Question 8

The acquisition of computer equipment represents another major category where businesses have begun to use eprocurement.

Accepted Answer

A) True 
 B)False

Question 9

B2B trading exchanges range from basic brochureware sites to complex ______.

Accepted Answer

A)  ecommerce environments 
B)  ebusiness trading exchanges 
C)  profitability environments 
D)  public exchanges 
E)  collaborative trading exchanges 
A)  ecommerce environments 
B)  ebusiness trading exchanges 
C)  profitability environments 
D)  public exchanges 
E)  collaborative trading exchanges

Question 10

What type of auction would you be involved in if the buyer receives bids from potential suppliers?

Accepted Answer

A)  English auction 
B)  Reverse auction 
C)  Revised auction 
D)  Dutch auction 
E)  Sealed-bid auction 
A)  English auction 
B)  Reverse auction 
C)  Revised auction 
D)  Dutch auction 
E)  Sealed-bid auction

Question 11

Auctions, both physical and virtual, can take a variety of formats in terms of how the process is conducted and how the winner is determined. An English auction is where:

Accepted Answer

A)  they use a descending price format whereby the auctioneer begins with a high price. 
B)  the price declines to the point that no products remain. 
C)  the price ascends and the third highest bidder wins. 
D)  the price ascends and the highest bidder wins. 
E)  the price is bargained between the bidder and auctioneer. 
A)  they use a descending price format whereby the auctioneer begins with a high price. 
B)  the price declines to the point that no products remain. 
C)  the price ascends and the third highest bidder wins. 
D)  the price ascends and the highest bidder wins. 
E)  the price is bargained between the bidder and auctioneer.

Question 12

Which of these steps is part of the eprocurement process?

Accepted Answer

A)  system authentication 
B)  returns processing 
C)  testing 
D)  PO generation 
E)  request for delivery 
A)  system authentication 
B)  returns processing 
C)  testing 
D)  PO generation 
E)  request for delivery

Question 13

A request for quotations (RFQ) may be involved in the case of:

Accepted Answer

A)  non-repetitive purchases. 
B)  purchases from unqualified suppliers. 
C)  routine product purchases. 
D)  standard product purchases. 
E)  international product purchases. 
A)  non-repetitive purchases. 
B)  purchases from unqualified suppliers. 
C)  routine product purchases. 
D)  standard product purchases. 
E)  international product purchases.

Question 14

What is esourcing?

Accepted Answer

The strategic sourcing solutions that ar

Question 15

Which of the following would be considered a benefit associated with eprocurement?

Accepted Answer

A)  firewalls 
B)  maverick buying 
C)  authorized buying 
D)  bulk discounts 
E)  none of the above 
A)  firewalls 
B)  maverick buying 
C)  authorized buying 
D)  bulk discounts 
E)  none of the above

Question 16

A collaborative effort that aims to improve the ability to carry out electronic transactions with others is called:

Accepted Answer

A)  Business Collaboration and Improvement Initiative (BCI). 
B)  Electronic Business Integration Initiative (EBI). 
C)  Full Business Collaboration Initiative (FB
C) . 
D)  Universal Description, Discovery, and Integration Initiative (UDDI). 
E)  Dynamic pricing 
A)  Business Collaboration and Improvement Initiative (BCI). 
B)  Electronic Business Integration Initiative (EBI). 
C)  Full Business Collaboration Initiative (FB
C) . 
D)  Universal Description, Discovery, and Integration Initiative (UDDI). 
E)  Dynamic pricing

Question 17

Name three major benefits of eprocurement.

Accepted Answer

Cost and efficiency,

Question 18

An exchange that has a product or service focus such as computers or office equipment and does not target any specific industry is a:

Accepted Answer

A)  private exchange. 
B)  vertical trading exchange. 
C)  public exchange. 
D)  horizontal trading exchange. 
E)  securities exchange. 
A)  private exchange. 
B)  vertical trading exchange. 
C)  public exchange. 
D)  horizontal trading exchange. 
E)  securities exchange.

Question 19

A vertical trading exchange:

Accepted Answer

A)  has a product or service focus and doesn't target a specific industry. 
B)  never limits participation to specific buyers and sellers. 
C)  is one that has an industry or specific market focus such as healthcare. 
D)  can build an internet presence for companies in high-rise buildings. 
E)  uses optimum storage capabilities to outsource data management among trading partners. 
A)  has a product or service focus and doesn't target a specific industry. 
B)  never limits participation to specific buyers and sellers. 
C)  is one that has an industry or specific market focus such as healthcare. 
D)  can build an internet presence for companies in high-rise buildings. 
E)  uses optimum storage capabilities to outsource data management among trading partners.

Question 20

Purchasing processes often need to be modified or reengineered when they are moved to an electronic environment.

Accepted Answer

A) True 
 B)False

List four types of auctions described in this chapter.

What is the basic order of the auctioning process?

Eprocurement can be defined broadly as the complete business process of acquiring goods through electronic means, from requisition through to fulfillment and payment.

A horizontal trading exchange is one that can:

What kind of auction does EDS Canada used to acquire contract technical staffing services after issuing a request for proposal (RFP)? Describe it.

Horizontal trading exchanges are those which have an industry or specific market focus.

Moment of truth is part of the eprocurement process.

The acquisition of computer equipment represents another major category where businesses have begun to use eprocurement.

B2B trading exchanges range from basic brochureware sites to complex ______.

What type of auction would you be involved in if the buyer receives bids from potential suppliers?

Auctions, both physical and virtual, can take a variety of formats in terms of how the process is conducted and how the winner is determined. An English auction is where:

Which of these steps is part of the eprocurement process?

A request for quotations (RFQ) may be involved in the case of:

What is esourcing?

Which of the following would be considered a benefit associated with eprocurement?

A collaborative effort that aims to improve the ability to carry out electronic transactions with others is called:

Name three major benefits of eprocurement.

An exchange that has a product or service focus such as computers or office equipment and does not target any specific industry is a:

A vertical trading exchange:

Purchasing processes often need to be modified or reengineered when they are moved to an electronic environment.

Introduction to Ebusiness

Internet Business Models and Strategies

Evolution and Applications of the Internet

Enterprise-Wide and Inter-Enterprise Systems

Security and Controls

Billing and Payment Systems

Supply-Chain Management

Customer Relationship Management

Business Intelligence

E-marketing and Advertising

Metrics for Performance Measurement in E-commerce

Privacy, Legal, and Taxation Issues in Ecommerce

Ecommerce and Small Business

Filters

Exam 8: Eprocurement, Trading Exchanges, and Auctions

List four types of auctions described in this chapter.

What is the basic order of the auctioning process?

Eprocurement can be defined broadly as the complete business process of acquiring goods through electronic means, from requisition through to fulfillment and payment.

A horizontal trading exchange is one that can:

What kind of auction does EDS Canada used to acquire contract technical staffing services after issuing a request for proposal (RFP)? Describe it.

Horizontal trading exchanges are those which have an industry or specific market focus.

Moment of truth is part of the eprocurement process.

The acquisition of computer equipment represents another major category where businesses have begun to use eprocurement.

B2B trading exchanges range from basic brochureware sites to complex ______.

What type of auction would you be involved in if the buyer receives bids from potential suppliers?

Auctions, both physical and virtual, can take a variety of formats in terms of how the process is conducted and how the winner is determined. An English auction is where:

Which of these steps is part of the eprocurement process?

A request for quotations (RFQ) may be involved in the case of:

What is esourcing?

Which of the following would be considered a benefit associated with eprocurement?

A collaborative effort that aims to improve the ability to carry out electronic transactions with others is called:

Name three major benefits of eprocurement.

An exchange that has a product or service focus such as computers or office equipment and does not target any specific industry is a:

A vertical trading exchange:

Purchasing processes often need to be modified or reengineered when they are moved to an electronic environment.

Introduction to Ebusiness

Internet Business Models and Strategies

Evolution and Applications of the Internet

Enterprise-Wide and Inter-Enterprise Systems

Security and Controls

Billing and Payment Systems

Supply-Chain Management

Customer Relationship Management

Business Intelligence

E-marketing and Advertising

Metrics for Performance Measurement in E-commerce

Privacy, Legal, and Taxation Issues in Ecommerce

Ecommerce and Small Business

Filters