Exam 6: Sourcing

The goal of strategic sourcing is to provide a competitive advantage to an organization and create short-term relationships with suppliers.

The sourcing function impacts an organization in many ways including:

Agile supply chains are the most difficult to manage due to supply and demand uncertainty.

A tablet computer would have a ________ type of supply process.

The sourcing function plays a key educational/knowledge role within an organization.

The supply side of an organization is related to the marketing function.

Purchasing is a strategic function within an organization.

Typically an organization should look to its existing supply base before soliciting a new supplier.

Sourcing has a significant financial impact on an organization because large amounts of cash are spent on materials and services.

Purchasing laundry detergent at a retail store is an example of:

Supplier selection typically begins with an organization soliciting a request for quotation (RFQ).

The sourcing process for functional products is easier to manage because of unpredictable demands.

Total cost of ownership (TCO) is the purchase price plus transportation.

E-auctions have allowed organizations to develop longer-term relationships with suppliers.

Sourcing is the function that is responsible for activities related to purchasing goods and services.

Keeping the organization at the forefront of new technologies and suppliers relates to which impact of the sourcing function:

The importance of sourcing has grown as companies seek to develop a global supply base.

A weeks of supply measure that is high relative to industry standards may indicate:

Which sourcing strategy strikes a balance between economies of scale and risk mitigation:

Competitive bidding is most effective when there are multiple suppliers in the marketplace.