Supply chain quizlet

The goal of a good supplier performance evaluation system is to provide metrics that are:

Understandable, easy to measure, and focused on real value-added results.

Which of the following is the best description of a preferred supplier?

A supplier who best meets your company's overall purchasing requirements

Costs incurred in the process of finding and discovering defects including testing, evaluating, and inspecting quality is categorized as which?

Appriasal costs

Which one of the following is NOT a reason to have a single supplier?

to spread the risk of a supply disruption

Why might a company decide to outsource a product they currently make

because they dont have capacity in their internal factory to meet demand

TQM is an integrated organization-wide strategy for improving product at every level. Which one of the following is NOT part of TQM?

customer segmentation

The six sigma 5 step plan reffered to as DMAIC AKA?

define, measure, analyze, improve, control

The primary goal of purchasing included all the below, Except?

develop as many good quality suppliers as possible for each material or service.

A tender, proposal or quotation submitted in response to a solicitation from a contracting authoirity

bid

Applicationg of ethical principles in business sitautions AKA

buisness ethics

The e procurement process has many advantages. Which one of those listed below is not one of those advantages?

segmentation

The QM philosophy that focuses on improving the overall quality of process outputs by identifiying and removing the causes of defects and minimizng variabliltiy in manufacturing and buisness processes

six sigma

If you understand the total cost of ownership then you know

that you need to consider all the related costs over the life of the product.

Wgat is the term used in business to describe the in depth process of capturing internal and external customer's stated and unstated expectations, references ans dislikes

voice of the customer

A strategic partnership with a supplier

Is a commitment over an extended period to work together to the mutual benefit of both parties.

Which one of the following is NOT a reason for buying or outsourcing?

Due to a lack of procurement personel

The term for a visual signal that authorizes production or the movement of materials to the next workstation is?

Kanban

the operating philosophy that focuses on waste reduction and value enhancements is known as

LEAN

Which one of the following is not part of seven tools of QC?

LEAN layouts

Which one of the following is not an element of lean manufacturing

Mass customization

Which manufacturing process can be characterized as creating a custom product for each customer?

Project process

An internal document that defines the need for good and/ or services. This document does not constitute a contractual relationship

Purchase requisition

The process of pre-qualifying suppliers to enter a website and at pre-designated time and date to try to underbid competitors

Reverse auctions

Which one of the following is not part of the 8 wastes identified through LEAN manufacturing

insufficient capacity

What is the sourcing strategy that invloves commodity items where many alternatives of supply cost, supply risk is low, spend is high, and there are potential procurement savings.

leverage

to make or process RM into FP, esp by means of a large scale industrial operation

manufacturing

The manufacturing strategy in which the product designed engineered, and built to specifications only after the order has been recived is called what? it is used when products are unique and extensively customized for the specific needs of individual customers

Engineer to order or ETO

the fastest or most immediate way that purchasing person can directly impact the profit of their company is to

obtain a price reduction on the items they are buying

Buying materials and components from suppliers instead of making them in0house, is known as?

outsourcing

in public purchasing for the government & non-profit sector, bidders are generally required to furnish bonds as incentive to ensure that the successful bidder will fulfill the contract awarded. Which type of bond provides protection against 3rd party liens not fulfilled by the bidder

payment bonds