Question 1

Evaluating supplier performance can help companies identify supplier strengths and weaknesses and improve supplier communication.

Accepted Answer

A) True 
 B)False  True

Question 2

An effective supplier certification program will increase time spent on incoming inspections.

Accepted Answer

A) True 
 B)False  False

Question 3

When evaluating a supplier it is not possible to create performance metrics that measure delivery speed, quality related outcomes, environmental responsibility, and costs related to inventory.

Accepted Answer

A) True 
 B)False  False

Question 4

Offering an awards program to suppliers both motivates the suppliers to commit to a program of continuous improvement as well as provides role models for suppliers to follow.

Accepted Answer

A) True 
 B)False

Question 5

When evaluating suppliers for supplier certification, personal visits may be made to the prospective supplier to observe operations first hand.

Accepted Answer

A) True 
 B)False

Question 6

According to the textbook, SRM software varies based on capabilities offered.AMR research has identified 5 areas of distinction for an SRM system.Provide three of these key tenets of SRM.

Accepted Answer

Automation
Integrati

Question 7

Which of the following is TRUE?

Accepted Answer

A) SRM software modules are very affordable (less than $50,000) and can be implemented with a week. 
B) ISO 75000 is the supplier award given to the highest rated supplier in Japan. 
C) The key to successful partnerships is developing performance measures with weights greater than 3.50. 
D) Continuous improvement and change management are both keys to building successful partnerships. 
A) SRM software modules are very affordable (less than $50,000) and can be implemented with a week. 
B) ISO 75000 is the supplier award given to the highest rated supplier in Japan. 
C) The key to successful partnerships is developing performance measures with weights greater than 3.50. 
D) Continuous improvement and change management are both keys to building successful partnerships.

Question 8

The combination of the purchase price of a good and additional costs incurred before or after product delivery can be referred to as:

Accepted Answer

A) Total cost of acquisition 
B) Total cost of ownership 
C) Purchase requisition cost 
D) Total procurement cost 
A) Total cost of acquisition 
B) Total cost of ownership 
C) Purchase requisition cost 
D) Total procurement cost

Question 9

A company using a weighted-criteria evaluation system has established these 5 categories and the appropriate weight in parentheses: Quality (0.30)
Responsiveness (0.20)
Delivery (0.20)
Cost (0.20)
Technology (0.10)
Company X received the following ratings in each of the five categories: Quality(90), Responsiveness(80), Delivery(80), Cost(90), Technology(90).What is their total score?

Accepted Answer

A) 87.0 
B) 85.5 
C) 86.0 
D) 84.0 
A) 87.0 
B) 85.5 
C) 86.0 
D) 84.0

Question 10

Which third party certification was adopted by the European Union in 1992 that caused US suppliers wanting to stay competitive in European Union countries to get certified?

Accepted Answer

A) ISO 14000 
B) ISO 9000 
C) European Supplier Certification Initiative (ESCI '92) 
D) EU Third Party Initiative 
A) ISO 14000 
B) ISO 9000 
C) European Supplier Certification Initiative (ESCI '92) 
D) EU Third Party Initiative

Question 11

When using a weighted-criteria evaluation system with five or more categories, vendors should be ranked based on their score in the two highest weighted categories, the others should be discarded.

Accepted Answer

A) True 
 B)False

Question 12

Benefits of implementing an effective supplier certification program include all or the following EXCEPT:

Accepted Answer

A) Building long-term relationships 
B) Reducing time spent on incoming inspections 
C) Increasing supplier base 
D) Recognizing excellence 
A) Building long-term relationships 
B) Reducing time spent on incoming inspections 
C) Increasing supplier base 
D) Recognizing excellence

Question 13

The acronym SRM refers to:

Accepted Answer

A) Supplier Requisition Monitoring 
B) Supplier Relationship Management 
C) Shipment Response Monitoring 
D) Supply chain Relationship Management 
A) Supplier Requisition Monitoring 
B) Supplier Relationship Management 
C) Shipment Response Monitoring 
D) Supply chain Relationship Management

Question 14

According to the text, one of the most basic and successful approaches to protecting trade secrets is:

Accepted Answer

A) Threat of litigation 
B) Working with law makers to increase fines and sentences for those that steal trade secrets 
C) Requiring employees and vendors to sign non-disclosure agreements 
D) Requiring employees and partners to get ISO 9000 certified 
A) Threat of litigation 
B) Working with law makers to increase fines and sentences for those that steal trade secrets 
C) Requiring employees and vendors to sign non-disclosure agreements 
D) Requiring employees and partners to get ISO 9000 certified

Question 15

Costs associated with investigating alternative suppliers and investigating alternative delivery options can be classified as:

Accepted Answer

A) Pre-transaction costs 
B) Post-transaction costs 
C) Transaction costs 
D) All of these 
A) Pre-transaction costs 
B) Post-transaction costs 
C) Transaction costs 
D) All of these

Question 16

Interpersonal relationships are not necessarily relevant to supplier relationships.

Accepted Answer

A) True 
 B)False

Question 17

ISO 14000 is a family of international standards for environmental management.

Accepted Answer

A) True 
 B)False

Question 18

An organization's process for evaluating the quality systems of key suppliers in an effort to eliminate incoming inspections can be referred to as:

Accepted Answer

A) Quality Systems Certification 
B) Supply Management 
C) Supplier Inspection 
D) Supplier Certification 
A) Quality Systems Certification 
B) Supply Management 
C) Supplier Inspection 
D) Supplier Certification

Question 19

As companies outsource more and more parts, it becomes easier to achieve cost savings internally.

Accepted Answer

A) True 
 B)False

Question 20

The process of certifying a new supplier is considered what type of major cost category?

Accepted Answer

A) Pretransaction Cost 
B) Supplier-Development Cost 
C) Transaction Cost 
D) Turnover Cost 
A) Pretransaction Cost 
B) Supplier-Development Cost 
C) Transaction Cost 
D) Turnover Cost

Evaluating supplier performance can help companies identify supplier strengths and weaknesses and improve supplier communication.

An effective supplier certification program will increase time spent on incoming inspections.

When evaluating a supplier it is not possible to create performance metrics that measure delivery speed, quality related outcomes, environmental responsibility, and costs related to inventory.

Offering an awards program to suppliers both motivates the suppliers to commit to a program of continuous improvement as well as provides role models for suppliers to follow.

When evaluating suppliers for supplier certification, personal visits may be made to the prospective supplier to observe operations first hand.

According to the textbook, SRM software varies based on capabilities offered.AMR research has identified 5 areas of distinction for an SRM system.Provide three of these key tenets of SRM.

Which of the following is TRUE?

The combination of the purchase price of a good and additional costs incurred before or after product delivery can be referred to as:

Which third party certification was adopted by the European Union in 1992 that caused US suppliers wanting to stay competitive in European Union countries to get certified?

When using a weighted-criteria evaluation system with five or more categories, vendors should be ranked based on their score in the two highest weighted categories, the others should be discarded.

Benefits of implementing an effective supplier certification program include all or the following EXCEPT:

The acronym SRM refers to:

According to the text, one of the most basic and successful approaches to protecting trade secrets is:

Costs associated with investigating alternative suppliers and investigating alternative delivery options can be classified as:

Interpersonal relationships are not necessarily relevant to supplier relationships.

ISO 14000 is a family of international standards for environmental management.

An organization's process for evaluating the quality systems of key suppliers in an effort to eliminate incoming inspections can be referred to as:

As companies outsource more and more parts, it becomes easier to achieve cost savings internally.

The process of certifying a new supplier is considered what type of major cost category?

Introduction to Supply Chain Management

Purchasing Management

Ethical and Sustainable Sourcing

Demand Forecasting

Resource Planning Systems

Inventory Management

Process Management: Lean and Six Sigma in the Supply Chain

Domestic Usand Global Logistics

Customer Relationship Management

Global Location Decisions

Service Response Logistics

Supply Chain Process Integration

Performance Measurement Along the Supply Chain

Filters

Exam 3: Creating and Managing Supplier Relationships

Evaluating supplier performance can help companies identify supplier strengths and weaknesses and improve supplier communication.

An effective supplier certification program will increase time spent on incoming inspections.

When evaluating a supplier it is not possible to create performance metrics that measure delivery speed, quality related outcomes, environmental responsibility, and costs related to inventory.

Offering an awards program to suppliers both motivates the suppliers to commit to a program of continuous improvement as well as provides role models for suppliers to follow.

When evaluating suppliers for supplier certification, personal visits may be made to the prospective supplier to observe operations first hand.

According to the textbook, SRM software varies based on capabilities offered.AMR research has identified 5 areas of distinction for an SRM system.Provide three of these key tenets of SRM.

Which of the following is TRUE?

The combination of the purchase price of a good and additional costs incurred before or after product delivery can be referred to as:

Which third party certification was adopted by the European Union in 1992 that caused US suppliers wanting to stay competitive in European Union countries to get certified?

When using a weighted-criteria evaluation system with five or more categories, vendors should be ranked based on their score in the two highest weighted categories, the others should be discarded.

Benefits of implementing an effective supplier certification program include all or the following EXCEPT:

The acronym SRM refers to:

According to the text, one of the most basic and successful approaches to protecting trade secrets is:

Costs associated with investigating alternative suppliers and investigating alternative delivery options can be classified as:

Interpersonal relationships are not necessarily relevant to supplier relationships.

ISO 14000 is a family of international standards for environmental management.

An organization's process for evaluating the quality systems of key suppliers in an effort to eliminate incoming inspections can be referred to as:

As companies outsource more and more parts, it becomes easier to achieve cost savings internally.

The process of certifying a new supplier is considered what type of major cost category?

Introduction to Supply Chain Management

Purchasing Management

Ethical and Sustainable Sourcing

Demand Forecasting

Resource Planning Systems

Inventory Management

Process Management: Lean and Six Sigma in the Supply Chain

Domestic Usand Global Logistics

Customer Relationship Management

Global Location Decisions

Service Response Logistics

Supply Chain Process Integration

Performance Measurement Along the Supply Chain

Filters