Question 1

Information technology is the key to success of global supply chains.

Accepted Answer

A) True 
 B)False

Question 2

Disintermediation is the refusal of one party to use mediators for price negotiation.

Accepted Answer

A) True 
 B)False

Question 3

Strategic partnering is encouraged when two or more business organizations have complementary products or services that would benefit the others.

Accepted Answer

A) True 
 B)False

Question 4

Traffic management refers to truck movement within our parking areas.

Accepted Answer

A) True 
 B)False

Question 5

One of the major reasons for a company to adopt third-party logistics is to concentrate on one's core business.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not a benefit of effective supply chain management?

Accepted Answer

A)  lower inventory costs
B)  higher productivity
C)  shorter lead times
D)  greater customer loyalty
E)  larger number of suppliers

Question 7

An advantage of decentralized purchasing is the attention given to local needs.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is not a goal of supply chain management?

Accepted Answer

A)  fewer suppliers and long-term relationship
B)  small lot sizes
C)  on time deliveries
D)  lowest possible transportation costs
E)  delivery often to the place of use

Question 9

Forming strategic partnerships is beneficial for two or more business organizations that have the same products or services.

Accepted Answer

A) True 
 B)False

Question 10

One important objective of purchasing is to:

Accepted Answer

A)  set quality standards for purchased items
B)  be knowledgeable about new products
C)  maintain numerous sources of supply
D)  obtain the lowest prices on all purchased items
E)  determine the processes that should be used

Question 11

The service function of purchasing interfaces with many area including legal, accounting, and engineering functions.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is least likely to be a key consideration when a company chooses a supplier?

Accepted Answer

A)  lead time and on-time delivery
B)  reputation and financial stability
C)  value analysis
D)  quality and Quality assurance
E)  flexibility of design change

Question 13

Which of the following is not a benefit of centralized purchasing?

Accepted Answer

A)  potential for quantity discounts
B)  better service from suppliers
C)  quick response to local needs
D)  potential for use of purchasing specialists
E)  supplier research

Question 14

Outsourcing followed by __________ is not simple.

Accepted Answer

A)  Integration
B)  Unionization
C)  Backsourcing
D)  Computerization
E)  Just-in-time

Question 15

Logistics includes all of these except:

Accepted Answer

A)  the movement of materials within a production facility
B)  incoming shipments of goods or materials
C)  outgoing shipments of goods or materials
D)  customer selection
E)  returned goods processing

Question 16

In supply chain organizations, functions must operate independently of each other.

Accepted Answer

A) True 
 B)False

Question 17

A 30% reduction in product and service variety won't really affect the efficiency of a supply chain.

Accepted Answer

A) True 
 B)False

Question 18

Every business organization is part of at least one supply chain.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is part of the purchasing cycle? (I)  Purchasing selects a supplier.
(II)  Orders from vendors are received.
(III)  Purchasing receives a requisition.

Accepted Answer

A)  II and III
B)  I, II, and III
C)  I only
D)  I and II
E)  I and III

Question 20

The interface between the firm and its suppliers is:

Accepted Answer

A)  purchasing
B)  production
C)  distribution
D)  engineering
E)  accounting

Exam 15: Supply Chain Management

Disintermediation is the refusal of one party to use mediators for price negotiation.

Correct AnswerverifiedShow Answer

One important objective of purchasing is to:

Correct AnswerverifiedShow Answer

An advantage of decentralized purchasing is the attention given to local needs.

Correct AnswerverifiedShow Answer

A 30% reduction in product and service variety won't really affect the efficiency of a supply chain.

Correct AnswerverifiedShow Answer

Which of the following is part of the purchasing cycle? (I) Purchasing selects a supplier. (II) Orders from vendors are received. (III) Purchasing receives a requisition.

Correct AnswerverifiedShow Answer

Logistics includes all of these except:

Correct AnswerverifiedShow Answer

Which of the following is not a benefit of effective supply chain management?

Correct AnswerverifiedShow Answer

The service function of purchasing interfaces with many area including legal, accounting, and engineering functions.

Correct AnswerverifiedShow Answer

Which of the following is not a benefit of centralized purchasing?

Correct AnswerverifiedShow Answer

One of the major reasons for a company to adopt third-party logistics is to concentrate on one's core business.

Correct AnswerverifiedShow Answer

Every business organization is part of at least one supply chain.

Correct AnswerverifiedShow Answer

Which of the following is least likely to be a key consideration when a company chooses a supplier?

Correct AnswerverifiedShow Answer

The interface between the firm and its suppliers is:

Correct AnswerverifiedShow Answer

Which of the following is not a goal of supply chain management?

Correct AnswerverifiedShow Answer

In supply chain organizations, functions must operate independently of each other.

Correct AnswerverifiedShow Answer

Strategic partnering is encouraged when two or more business organizations have complementary products or services that would benefit the others.

Correct AnswerverifiedShow Answer

Information technology is the key to success of global supply chains.

Correct AnswerverifiedShow Answer

Forming strategic partnerships is beneficial for two or more business organizations that have the same products or services.

Correct AnswerverifiedShow Answer

Outsourcing followed by __________ is not simple.

Correct AnswerverifiedShow Answer

Traffic management refers to truck movement within our parking areas.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified