Exam 13: Sourcing Materials and Services

The most important factor in vendor selection is usually financial health.

For the buyer,the total procurement price is more than just the basic purchase price.There are four other elements to consider.Name these elements,and discuss the primary considerations of each.

What is an amalgam of catalogs from vendors available via the Internet within a market called?

There are three definitions to aid understanding of some of the similarities,differences,and linkages between purchasing,procurement,and strategic sourcing.Define them,and discuss the differences between the three.

Which is not a form of purchasing?

Total procurement price includes

What vendor selection criteria are described by price and financial stability?

When a firm makes a "make" decision,when analyzing whether to "make or buy",the firm may still have to purchase some types of inputs from outside suppliers.

Companies with 10,000 purchase transactions or more per year should consider

What vendor selection criteria are described by vendor attitude,tracing aids,packaging,vendor location,and repair service?

Vendors may offer varying levels of discounts.

There are seven steps in the Strategic Sourcing Methodology.

Strategic sourcing as a process is far more broad and comprehensive than procurement.Overall,the process starts with the formation of a

In the Item Procurement Importance Matrix,what describes high risk,high value?

In the Item Procurement Importance Matrix,what describes high risk,low value?

Managing the sourcing and procurement process can be difficult for a multitude of reasons.However,a four-step approach can be used and adapted to a firm's particular needs.Name the four steps and discuss them.

There are four steps in the Managing Sourcing and Procurement Processes.Which does not belong?

Define and discuss the four basic types of e-commerce business models used in procurement and sourcing.

Procurement and materials management are related activities in supply chain management.