Quiz Questions
Which of the following would be a good reason to outsource (buy) versus make an item? A firm lacks the technology or expertise to produce an item To utilize existing capacity within a company's own firm To have more direct control over the design and production of an end item No competent supplier presently produces the needed item
A firm lacks the technology or expertise to produce an item
The sourcing strategies including; maintaining safety and/or strategic stocks, developing contingency plans, strengthening relationships, and searching for alternatives, are appropriate for which item category?
Bottleneck
Which Statistical Tool of Six Sigma is used to determine the frequency of a specific problems?
Check Sheet
Benefits derived from implementing an e-procurement system include all of the following EXCEPT: Time Savings Real Time Access Trackability Decentralizing Purchasing
Decentralizing Purchasing
An outsourcing program can result in all of the following positive outcomes, except? Reducing staffing levels Decreased need for supplier management Cost reduction Gains in manufacturing flexibility
Decreased need for supplier management
The best supplier candidates for Supplier Relationship Management (SRM) include all of the following EXCEPT? Preferred Suppliers Suppliers that provide lesser quantities of a crucial products/services Developmental suppliers that need to make improvements Suppliers that provide high volumes of products or services
Developmental suppliers that need to make improvements
True or False: A purchase order is legally binding once issued by the buyer.
False
True or False: A strong supplier partnership requires that both buyer and supplier adopt a strong tactical perspective
False
True or False: An effective supplier certification program may increase the time spent on incoming inspections
False
True or False: LEAN production is an operating philosophy or mindset that attempts to minimize the impact of supply variability and flaws in forecasting through the use of safety stock inventories.
False
True or False: ISO 14000 is a widely accepted management and quality certification standard
False, ISO 9000 is
The keys to developing successful supply partnerships include all of the following EXCEPT? Personal Relationships Individualized Objectives Mutual Benefits and Needs Performance Metrics
Individualized Objectives
Which company started Six Sigma?
Motorola
All of the following are included in the eight wastes EXCEPT? Overproducing Extra-Processing Overspending Waiting
Overspending
Which quality guru (i.e., expert) is credited with the concept that 'quality is free; defects are costly'
Phil Crosby
The process commonly utilized in continuous improvement is known as?
Plan, Do, Check, Act
Which of the following is NOT one of the "Seven Tools of Quality Control" Scatter Diagrams Histograms Small Batch Scheduling Control Charts
Small Batch Scheduling
Managing a firm's external resources in ways that support the long-term goals of the firm can be referred to as? Ethical souring Functional sourcing Strategic sourcing Hybrid Sourcing
Strategic sourcing
True or False: A Supplier Code of Conduct is intended to inform suppliers of ethical sourcing expectations and is typically a condition for becoming an approved supplier.
True
True or False: Duties, taxes, or customs imposed by the host country for imported or exported goods, are known as Tariffs
True
True or False: Successful supplier relationships involve equal decision-making control between both the buyer and the supplier.
True
True or False: The primary design objective of a LEAN layout is to reduce wasted movements of workers and/or materials.
True
Pick the one that's true: VMI stands for Vertically Managed Inventory 3PL stands for Third Party Leverage VMI stands for Vendor-Managed Inventory 3PL stands for Three Point Logistics
VMI stands for Vendor-Managed Inventory