Exam 6: Sourcing

To reduce errors and complexity, sourcing is the only function that should interact with suppliers.

Utilizing a request for quotation (RFQ) is part of the ___________ process:

Benefits to buyers from utilizing e-auctions include:

Attributes of a commercial sourcing include:

Electric car technology would be an example of an evolving supply process.

__________ supply chains are best utilized for products that are innovative and have a stable supply base:

The best way to evaluate price in the sourcing process is:

The negotiations approach to supplier selection typically involves multiple criteria in order to select the best supplier.

__________ supply chains are best utilized for products that have both high demand and supply uncertainty:

A consumer purchasing a t-shirt at a retail store is an example of commercial sourcing.

Provide three criteria for why an organization would use competitive bidding and three reasons for negotiation in supplier selection.

When selecting a new supplier, competitive bidding is an effective way to develop a longer-term business relationships.

A biotechnology/medical product would be an example of a risk-hedging supply chain with significant focus on supplier stability.

The fact that an organization invests significant amounts of cash in the sourcing function relates to which impact of the sourcing function:

__________ products have short life-cycles and unpredictable demand:

Achieving greater economies of scale is one advantage of single sourcing.

______ and _______ are key dimensions for the sourcing function to consider when evaluating an outsourcing or off-shoring strategy:

Factors in the marketplace that elevated sourcing from a clerical-oriented function include:

__________ sourcing focuses on more than just price when selecting suppliers.

Sourcing is responsible for the "downstream" part of an organization.