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Posted on 12/19/2015 at 10:17:36 PM
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Posted on 12/19/2015 at 10:17:36 PM
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Question Question 1 1. Because internationally recognized certifications like ISO 9000 are becoming so common among suppliers, it is becoming more important that purchasing firms develop internal certification programs that are geared toward the specific needs of the purchasing organization. True False 1.6 points Question 2 1. Benchmarking is: A system of performance metrics that seeks to motivate suppliers to perform better. A practice where companies attempt to learn and apply the best practices of other companies. A system of marking defective inbound inventory so it can quickly be identified for return to the supplier. A program where suppliers compete for contracts, but those companies who are outbid are provided advice for winning future contracts. 1.6 points Question 3 1. Variations of outsourcing include all of the following EXCEPT: Co-sourcing Selective sourcing Front sourcing Insourcing 1.6 points Question 4 1. The influence of corporate sourcing decisions interacts with internal design, production, finance, marketing, and accounting. True False 1.6 points Question 5 1. The inventory level where suppliers replenish their customer's inventory with a predetermined order quantity is called the: Channel Equity Level Reorder point Bill Back MRO point 1.6 points Question 6 1. The management of the firm's external resources through identification and selection of suppliers, management of supplier relationships, and monitoring and rewarding supplier performance in an effort to support the long-term goals of the organization is called: Buyer-supplier integration Acceptance sampling Procurement rationalization Strategic sourcing 1.6 points Question 7 1. An outsourcing program can result in all of the following positive outcomes, EXCEPT: Reducing staffing levels Decreased need for supplier management Cost reduction Gains in manufacturing flexibility 1.6 points Question 8 1. The primary benefits of ____ include costs savings and freeing up time for purchasing staff to concentrate on the firm's core activities. eProcurement Insourcing The Ethical Trade initiative Six Sigma 1.6 points Question 9 1. Benchmarking is the practice of copy

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