Question 1

Benefits of eprocurement include:

Accepted Answer

A)  cost and efficiency, authorized buying, strategic procurement 
B)  authorized buying, maverick buying, strategic procurement 
C)  maverick buying, bulk discounts, increased control 
D)  strategic procurement, maverick buying, cost and efficiency 
E)  none of the above 
A)  cost and efficiency, authorized buying, strategic procurement 
B)  authorized buying, maverick buying, strategic procurement 
C)  maverick buying, bulk discounts, increased control 
D)  strategic procurement, maverick buying, cost and efficiency 
E)  none of the above

Question 2

A purchase order is sometimes called a ________.

Accepted Answer

A)  forecast 
B)  digital certificate 
C)  quote 
D)  RFP 
E)  purchase agreement 
A)  forecast 
B)  digital certificate 
C)  quote 
D)  RFP 
E)  purchase agreement

Question 3

The first stage in a procurement process whereby the buyer communicates its needs to potential suppliers, who will then submit tenders based on the requirements, is called:

Accepted Answer

A)  procurement ignition 
B)  request for proposal 
C)  procurement proposition 
D)  procurement first notification 
E)  request for quotations 
A)  procurement ignition 
B)  request for proposal 
C)  procurement proposition 
D)  procurement first notification 
E)  request for quotations

Question 4

Which of the following is part of the auctioning process?

Accepted Answer

A)  settlement 
B)  bidding 
C)  promotion and scheduling 
D)  bid evaluation 
E)  all of the above 
A)  settlement 
B)  bidding 
C)  promotion and scheduling 
D)  bid evaluation 
E)  all of the above

Question 5

Describe the evolution of software as a service (SaaS).

Accepted Answer

During the 2000s, the provision of softw

Question 6

A function that may be carried out by a trading exchange is:

Accepted Answer

A)  certification of suppliers. 
B)  auction processes. 
C)  advertising. 
D)  escrow services. 
E)  all of the above 
A)  certification of suppliers. 
B)  auction processes. 
C)  advertising. 
D)  escrow services. 
E)  all of the above

Question 7

Questions such as, "Who can join the trading exchange?", "Are data owned by the exchange or individual members?", and "Are members restricted in their rights to participate in or own other exchanges?", represent what kind of issue for exchange providers?

Accepted Answer

A)  legal issue 
B)  profitability 
C)  governance 
D)  integration 
E)  membership 
A)  legal issue 
B)  profitability 
C)  governance 
D)  integration 
E)  membership

Question 8

The eprocurement process varies somewhat by organization.

Accepted Answer

A) True 
 B)False

Question 9

Trading exchanges in the business-to-business environment:

Accepted Answer

A)  are important strategic mediums. 
B)  are valuable information gathering tools. 
C)  provide management with a place to share ideas with partners. 
D)  are valuable purchasing and selling sites. 
E)  offer very few services to companies. 
A)  are important strategic mediums. 
B)  are valuable information gathering tools. 
C)  provide management with a place to share ideas with partners. 
D)  are valuable purchasing and selling sites. 
E)  offer very few services to companies.

Question 10

Which of the following is a benefit of eprocurement?

Accepted Answer

A)  reduced administration costs 
B)  faster order times 
C)  price reductions 
D)  process efficiencies 
E)  all of the above 
A)  reduced administration costs 
B)  faster order times 
C)  price reductions 
D)  process efficiencies 
E)  all of the above

Question 11

Identify the elements that must be present for e-auctions to be deemed "fair" to participants.

Accepted Answer

For auctions to be fair to participants,

Question 12

Bid evaluation is an important part of the trading exchange process.

Accepted Answer

A) True 
 B)False

Question 13

The function of trading exchanges is to consolidate numerous forms of communication into one medium.

Accepted Answer

A) True 
 B)False

Question 14

Because these applications are accessed over the internet, SaaS-based applications became known as ________.

Accepted Answer

A)  cloud computing. 
B)  e-auctions 
C)  trading exchanges 
D)  portals 
E)  web services 
A)  cloud computing. 
B)  e-auctions 
C)  trading exchanges 
D)  portals 
E)  web services

Question 15

The auction configuration (step 1 of the auctioning process) controls the timing details of the auction and auction closing rules.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is part of the auctioning process?

Accepted Answer

A)  auction announcement 
B)  promotion and scheduling 
C)  issuing passwords 
D)  billing 
E)  none of the above 
A)  auction announcement 
B)  promotion and scheduling 
C)  issuing passwords 
D)  billing 
E)  none of the above

Question 17

The most common use for eprocurement in its early stages was for the purchase of:

Accepted Answer

A)  corporate travel services. 
B)  computer equipment. 
C)  office supplies and MRO items. 
D)  raw materials. 
E)  automotive parts. 
A)  corporate travel services. 
B)  computer equipment. 
C)  office supplies and MRO items. 
D)  raw materials. 
E)  automotive parts.

Question 18

Describe the buyer and seller registration step in the auction process.

Accepted Answer

This is the third step of the auction pr

Question 19

In which auction type must the highest bidder pay the price submitted by the second highest bidder?

Accepted Answer

A)  English auction 
B)  French auction 
C)  Reverse auction 
D)  Vickrey auction 
E)  Yankee auction 
A)  English auction 
B)  French auction 
C)  Reverse auction 
D)  Vickrey auction 
E)  Yankee auction

Question 20

Maverick buying is the unauthorized purchasing of goods by employees through non-routine and poorly controlled means such as acquiring office supplies with petty cash.

Accepted Answer

A) True 
 B)False

Benefits of eprocurement include:

A purchase order is sometimes called a ________.

The first stage in a procurement process whereby the buyer communicates its needs to potential suppliers, who will then submit tenders based on the requirements, is called:

Which of the following is part of the auctioning process?

Describe the evolution of software as a service (SaaS).

A function that may be carried out by a trading exchange is:

Questions such as, "Who can join the trading exchange?", "Are data owned by the exchange or individual members?", and "Are members restricted in their rights to participate in or own other exchanges?", represent what kind of issue for exchange providers?

The eprocurement process varies somewhat by organization.

Trading exchanges in the business-to-business environment:

Which of the following is a benefit of eprocurement?

Identify the elements that must be present for e-auctions to be deemed "fair" to participants.

Bid evaluation is an important part of the trading exchange process.

The function of trading exchanges is to consolidate numerous forms of communication into one medium.

Because these applications are accessed over the internet, SaaS-based applications became known as ________.

The auction configuration (step 1 of the auctioning process) controls the timing details of the auction and auction closing rules.

Which of the following is part of the auctioning process?

The most common use for eprocurement in its early stages was for the purchase of:

Describe the buyer and seller registration step in the auction process.

In which auction type must the highest bidder pay the price submitted by the second highest bidder?

Maverick buying is the unauthorized purchasing of goods by employees through non-routine and poorly controlled means such as acquiring office supplies with petty cash.

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

Benefits of eprocurement include:

A purchase order is sometimes called a ________.

The first stage in a procurement process whereby the buyer communicates its needs to potential suppliers, who will then submit tenders based on the requirements, is called:

Which of the following is part of the auctioning process?

Describe the evolution of software as a service (SaaS).

A function that may be carried out by a trading exchange is:

Questions such as, "Who can join the trading exchange?", "Are data owned by the exchange or individual members?", and "Are members restricted in their rights to participate in or own other exchanges?", represent what kind of issue for exchange providers?

The eprocurement process varies somewhat by organization.

Trading exchanges in the business-to-business environment:

Which of the following is a benefit of eprocurement?

Identify the elements that must be present for e-auctions to be deemed "fair" to participants.

Bid evaluation is an important part of the trading exchange process.

The function of trading exchanges is to consolidate numerous forms of communication into one medium.

Because these applications are accessed over the internet, SaaS-based applications became known as ________.

The auction configuration (step 1 of the auctioning process) controls the timing details of the auction and auction closing rules.

Which of the following is part of the auctioning process?

The most common use for eprocurement in its early stages was for the purchase of:

Describe the buyer and seller registration step in the auction process.

In which auction type must the highest bidder pay the price submitted by the second highest bidder?

Maverick buying is the unauthorized purchasing of goods by employees through non-routine and poorly controlled means such as acquiring office supplies with petty cash.

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