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Exam 16: Global Sourcing and Procurement

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Question 21

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

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Question 22

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In Hau Lee's uncertainty framework to classify supply chains, which supply chain process should be used for innovative products with low supply uncertainty? ______________________________________

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Question 23

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What is it called when companies focus on the things they do best and outsource other functions to key partners? ________________________________________

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

In Hau Lee's uncertainty framework to classify supply chains, which supply chain process should be used for functional products with low supply uncertainty? ______________________________________

Strategic sourcing is the development and management of supplier relationships to acquire goods and services in a way that aids in achieving the immediate needs of the business.

Inventory turnover and weeks of supply are mathematically the inverse of one another.

The optimal strategy for innovative products is to use an efficient supply chain.

When customers allows their supplier to manage an item or group of items for them, it is called ________________________

The step in the six-step process for green sourcing where quantitative and qualitative criteria to evaluate the sourcing process are developed is called: _____________________.

The effect of the lack of synchronization among supply chain members is referred to as which of the following?

The six-step process for green sourcing includes which of the following?

Firms producing functional products are forced to introduce a steady stream of innovations in order to survive.

Which of the following is not an improvement-driven reason for outsourcing?

Which of the following is one of the strategic characteristics to consider when deciding how supplier relationships should be structured on the continuum between vertical integration (do not outsource) and arm's length relationships (outsource) ?

In Hau Lee's uncertainty framework to classify supply chains, a supply chain that combines the strengths of a "risk-hedging" and a "responsive" supply chain is called what? ______________________________________

When considering outsourcing, what should firms be sure to avoid?

In conducting a total cost of ownership analysis, it is probably best to use a team representing the key functional areas.

Which of the following is not an organizationally driven reason for outsourcing?

Logistics is a term that refers to the management functions that support the complete cycle of material flow, from the purchase and internal control of production materials; to the planning and control of work-in-process; to the purchasing, shipping, and distribution of the finished product.