Question 1

The first step that organizations would take in vendor selection would be:

Accepted Answer

A)  Analysis of the business requirements. 
B)  Contract negotiation. 
C)  Proposal evaluation. 
D)  Request for proposal (RFP). 
E)  Vendor search. 
A)  Analysis of the business requirements. 
B)  Contract negotiation. 
C)  Proposal evaluation. 
D)  Request for proposal (RFP). 
E)  Vendor search. A

Question 2

Relating to on-site supplier representatives, one of the earliest company examples of this concept was:

Accepted Answer

A)  Bose Corporation 
B)  General Motors 
C)  Hewlett Packard 
D)  Ikea 
E)  Procter and Gamble 
A)  Bose Corporation 
B)  General Motors 
C)  Hewlett Packard 
D)  Ikea 
E)  Procter and Gamble A

Question 3

In procurement, "spend under management" is defined as:

Accepted Answer

A)  A macro-measure of the total cost of procurement. 
B)  Amount of cost avoidance. 
C)  Engaging in forward buying in order to obtain items at a lower cost. 
D)  Greater efficiencies in the various aspects of purchasing and procurement. 
E)  Total amount of spend that is influenced by procurement. 
A)  A macro-measure of the total cost of procurement. 
B)  Amount of cost avoidance. 
C)  Engaging in forward buying in order to obtain items at a lower cost. 
D)  Greater efficiencies in the various aspects of purchasing and procurement. 
E)  Total amount of spend that is influenced by procurement. E

Question 4

In an examination of the technologies employed in procurement, Deloitte Development LLC identified a number of mature and emerging technologies. Which of the following would be considered an emerging technology?

Accepted Answer

A)  Artificial intelligence. 
B)  Cognitive computing. 
C)  Predictive analytics. 
D)  Sensors and wearables. 
E)  Virtualization. 
A)  Artificial intelligence. 
B)  Cognitive computing. 
C)  Predictive analytics. 
D)  Sensors and wearables. 
E)  Virtualization.

Question 5

In a research study of B2B companies and their relationships to their suppliers, very few organizations indicated that supplier integration and collaboration were strategic initiatives of their firms.

Accepted Answer

A) True 
 B)False

Question 6

All of the following measurement methods are used to assess the value of employee training except for:

Accepted Answer

A)  "Before and after" individual employee improvements. 
B)  Actual cost savings achieved. 
C)  Employee performance appraisals. 
D)  Measures of whether employees are doing a better job. 
E)  Length of time employees remain with the organization. 
A)  "Before and after" individual employee improvements. 
B)  Actual cost savings achieved. 
C)  Employee performance appraisals. 
D)  Measures of whether employees are doing a better job. 
E)  Length of time employees remain with the organization.

Question 7

A best practice metric with respect to creating collaboration with suppliers and vendors would be a formal supplier relationship management program being in place with designated supplier managers who communicate regularly with their suppliers.

Accepted Answer

A) True 
 B)False

Question 8

__________ works with communities in the developing world to turn waste fishing nets into economic opportunities.

Accepted Answer

A)  Home Depot 
B)  Karl Fazer (Finland) 
C)  Net-Works 
D)  Pirelli 
E)  Walmart 
A)  Home Depot 
B)  Karl Fazer (Finland) 
C)  Net-Works 
D)  Pirelli 
E)  Walmart

Question 9

The best training programs typically would include marketing strategy as a component of the training program.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is typically not a basic metric employed by purchasing and procurement organizations?

Accepted Answer

A)  Procurement cost avoidance. 
B)  Procurement cost savings. 
C)  Procurement ROI. 
D)  Reverse logistics disposition costs. 
E)  Spend under management. 
A)  Procurement cost avoidance. 
B)  Procurement cost savings. 
C)  Procurement ROI. 
D)  Reverse logistics disposition costs. 
E)  Spend under management.

Question 11

The overall process of spend management is fairly straightforward. Which of the following activities would not be part of the spend management process?

Accepted Answer

A)  Classifying the data into a specific structure to aid analysis. 
B)  Collecting data from multiple sources into a single dataset. 
C)  Normalizing or standardizing the data so that they are directly comparable. 
D)  Outsourcing the spend data collection to a third-party who can be objective and unbiased. 
E)  Reporting and analyzing the spend data in order to assist decision makers. 
A)  Classifying the data into a specific structure to aid analysis. 
B)  Collecting data from multiple sources into a single dataset. 
C)  Normalizing or standardizing the data so that they are directly comparable. 
D)  Outsourcing the spend data collection to a third-party who can be objective and unbiased. 
E)  Reporting and analyzing the spend data in order to assist decision makers.

Question 12

While the ultimate objective of supply chain management is to satisfy customers, customers should never be involved in the firm's outsourcing decisions.

Accepted Answer

A) True 
 B)False

Question 13

In the B2B sector, outsourcing manufacturing is quite common and the process is made easier by the fact that there are a relatively small number of contract manufacturers that are potential suppliers.

Accepted Answer

A) True 
 B)False

Question 14

e-Payable systems are often implemented when organizations have a need to reduce overall payment costs, need better cash management, or reduce the risk of payment fraud.

Accepted Answer

A) True 
 B)False

Question 15

Almost 90 percent of purchasing and procurement organizations do not have sufficient visibility into timely and accurate spend data.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following would be the most important reason that a firm would implement a sustainable supply chain strategy?

Accepted Answer

A)  To achieve corporate responsibility and/or product stewardship goals and objectives. 
B)  To achieve government compliance relative to environmental regulations. 
C)  To improve customer relations inasmuch as many final customers have become "green conscious." 
D)  To replace disposables with reusables or recyclables. 
E)  To minimize environmental impacts from the firm's entire product line. 
A)  To achieve corporate responsibility and/or product stewardship goals and objectives. 
B)  To achieve government compliance relative to environmental regulations. 
C)  To improve customer relations inasmuch as many final customers have become "green conscious." 
D)  To replace disposables with reusables or recyclables. 
E)  To minimize environmental impacts from the firm's entire product line.

Question 17

The most important ongoing issue facing procurement executives in domestic and/or global sourcing would be:

Accepted Answer

A)  Actions of competitors. 
B)  Contingency planning. 
C)  Cost reduction. 
D)  Major climatic events. 
E)  Terrorism. 
A)  Actions of competitors. 
B)  Contingency planning. 
C)  Cost reduction. 
D)  Major climatic events. 
E)  Terrorism.

Question 18

Spend analysis is the term used to represent the various efforts of an organization to manage how much they spend on various activities to conduct business.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following statements regarding the increasing importance of purchasing and procurement is FALSE?

Accepted Answer

A)  Digital technology growth is impacting every aspect of supply chain management. 
B)  Emergence of a global economy requires that organizations locate potential suppliers around the world or close to home. 
C)  It will become easier to manage complexities effectively in markets that are becoming more global. 
D)  Complying with country-specific regulations and rules remains a challenge for most firms. 
E)  Providing transaction transparency and coordination are possible, but implementation remains elusive. 
A)  Digital technology growth is impacting every aspect of supply chain management. 
B)  Emergence of a global economy requires that organizations locate potential suppliers around the world or close to home. 
C)  It will become easier to manage complexities effectively in markets that are becoming more global. 
D)  Complying with country-specific regulations and rules remains a challenge for most firms. 
E)  Providing transaction transparency and coordination are possible, but implementation remains elusive.

Question 20

Sourcing contracts are not meant to last forever without changes taking place; periodically they need to be reviewed and mutually adjusted or modified.

Accepted Answer

A) True 
 B)False

The first step that organizations would take in vendor selection would be:

Relating to on-site supplier representatives, one of the earliest company examples of this concept was:

In procurement, "spend under management" is defined as:

In an examination of the technologies employed in procurement, Deloitte Development LLC identified a number of mature and emerging technologies. Which of the following would be considered an emerging technology?

In a research study of B2B companies and their relationships to their suppliers, very few organizations indicated that supplier integration and collaboration were strategic initiatives of their firms.

All of the following measurement methods are used to assess the value of employee training except for:

A best practice metric with respect to creating collaboration with suppliers and vendors would be a formal supplier relationship management program being in place with designated supplier managers who communicate regularly with their suppliers.

__________ works with communities in the developing world to turn waste fishing nets into economic opportunities.

The best training programs typically would include marketing strategy as a component of the training program.

Which of the following is typically not a basic metric employed by purchasing and procurement organizations?

The overall process of spend management is fairly straightforward. Which of the following activities would not be part of the spend management process?

While the ultimate objective of supply chain management is to satisfy customers, customers should never be involved in the firm's outsourcing decisions.

In the B2B sector, outsourcing manufacturing is quite common and the process is made easier by the fact that there are a relatively small number of contract manufacturers that are potential suppliers.

e-Payable systems are often implemented when organizations have a need to reduce overall payment costs, need better cash management, or reduce the risk of payment fraud.

Almost 90 percent of purchasing and procurement organizations do not have sufficient visibility into timely and accurate spend data.

Which of the following would be the most important reason that a firm would implement a sustainable supply chain strategy?

The most important ongoing issue facing procurement executives in domestic and/or global sourcing would be:

Spend analysis is the term used to represent the various efforts of an organization to manage how much they spend on various activities to conduct business.

Which of the following statements regarding the increasing importance of purchasing and procurement is FALSE?

Sourcing contracts are not meant to last forever without changes taking place; periodically they need to be reviewed and mutually adjusted or modified.

Supply Chain Management: Operations and Integration

Customer Service and Satisfaction

The Role of Information in Supply Chains

Sales Forecasting and Inventory Management

Transportation: Overview, Infrastructure, Measures, and Management

Warehouse Management

Materials Management and Handling in the Supply Chain

The Role of Manufacturing, Marketing and Finance in Supply Chains

Managing Relationships With Customers and Suppliers

Supply Chain Process Integration

Global Supply Chain Management

Managing Supply Chains in Global Markets

Strategic Supply Chain Network Design

Collaboration, Cooperation and Integration in the Supply Chain

Supply Chain Performance Measurement and Metrics

Filters

Exam 8: Sourcing and Procurement

The first step that organizations would take in vendor selection would be:

Relating to on-site supplier representatives, one of the earliest company examples of this concept was:

In procurement, "spend under management" is defined as:

In an examination of the technologies employed in procurement, Deloitte Development LLC identified a number of mature and emerging technologies. Which of the following would be considered an emerging technology?

In a research study of B2B companies and their relationships to their suppliers, very few organizations indicated that supplier integration and collaboration were strategic initiatives of their firms.

All of the following measurement methods are used to assess the value of employee training except for:

A best practice metric with respect to creating collaboration with suppliers and vendors would be a formal supplier relationship management program being in place with designated supplier managers who communicate regularly with their suppliers.

__________ works with communities in the developing world to turn waste fishing nets into economic opportunities.

The best training programs typically would include marketing strategy as a component of the training program.

Which of the following is typically not a basic metric employed by purchasing and procurement organizations?

The overall process of spend management is fairly straightforward. Which of the following activities would not be part of the spend management process?

While the ultimate objective of supply chain management is to satisfy customers, customers should never be involved in the firm's outsourcing decisions.

In the B2B sector, outsourcing manufacturing is quite common and the process is made easier by the fact that there are a relatively small number of contract manufacturers that are potential suppliers.

e-Payable systems are often implemented when organizations have a need to reduce overall payment costs, need better cash management, or reduce the risk of payment fraud.

Almost 90 percent of purchasing and procurement organizations do not have sufficient visibility into timely and accurate spend data.

Which of the following would be the most important reason that a firm would implement a sustainable supply chain strategy?

The most important ongoing issue facing procurement executives in domestic and/or global sourcing would be:

Spend analysis is the term used to represent the various efforts of an organization to manage how much they spend on various activities to conduct business.

Which of the following statements regarding the increasing importance of purchasing and procurement is FALSE?

Sourcing contracts are not meant to last forever without changes taking place; periodically they need to be reviewed and mutually adjusted or modified.

Supply Chain Management: Operations and Integration

Customer Service and Satisfaction

The Role of Information in Supply Chains

Sales Forecasting and Inventory Management

Transportation: Overview, Infrastructure, Measures, and Management

Warehouse Management

Materials Management and Handling in the Supply Chain

The Role of Manufacturing, Marketing and Finance in Supply Chains

Managing Relationships With Customers and Suppliers

Supply Chain Process Integration

Global Supply Chain Management

Managing Supply Chains in Global Markets

Strategic Supply Chain Network Design

Collaboration, Cooperation and Integration in the Supply Chain

Supply Chain Performance Measurement and Metrics

Filters