Supply Chain TEST @2

In which item category would the sourcing strategies of consolidating volumes as a negotiation tool, using the competitive marketplace to reduce costs, and automating supplier interfaces to minimize process related costs, be appropriate?

Leverage Items

Sourcing Sustainability is described as the ability to meet the current needs of the supply chain without costing the company any additional time or money.

True

Strategic Sourcing is the process of identifying a company that provides a needed good or service

False

The process commonly utilized in continuous improvement is known as?

Plan,Do,Check,Act

both sides work together to maximize the outcome or create a win-win result are?

collaborative negotiations

The best supplier candidates for Supplier Relationship Management (SRM) include all of the following EXCEPT?

Developmental suppliers that need to make improvements

_______ sourcing policies should include such things as the reporting of supplier compliance to stakeholders, and detailing ethical sourcing expectations to suppliers.

Ethical sourcing

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

False

ISO 14000 certification is a series of management and quality standards in design, development, production, installation, and service

False

ISO 14000 is a widely accepted management and quality certification standard.

False

In a Spend Analysis, purchases that involve items representing a low percentage of the firm's total spend and having very little supply risk, are categorized as Leverage Purchases.

False

Supplier Relationship Management is a comprehensive approach for locating and sourcing key suppliers, so that an organization can leverage its consolidated purchasing power to find the best possible values in the marketplace

False

In which item category would the sourcing strategies of consolidating volumes as a negotiation tool, using the competitive marketplace to reduce costs, and automating supplier interfaces to minimize process-related costs, be appropriate?

Leverage ITEMS

In which sourcing category would an item typically be classified, if it is considered to be low value, low risk, and there are lots of potential suppliers?

Non-Critical

Products with short product life cycles, volatile demand, high-profit margins, and relatively little competition, are known as Innovative Products. Correct answer:

True

The Weighted-Criteria Evaluation System is typically used to select a supplier or to evaluate the performance of a supplier?

True

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

Increasing the supplier base

sourcing strategies of simplifying and streamlining the purchasing process, reducing the number of suppliers and simplifying the ordering process, and transferring the buying responsibility to users within the company, be appropriate?

Non-Critical Items

Performance Measures should be S.M.A.R.T. which is an acronym that means?

Specific, Measurable, Achievable, Relevant, Time-oriented

Candidates for a Supplier Certification Program include suppliers who meet one or more of the following criteria, EXCEPT?

-no incoming product rejections -processes are determined to be stable and in control -a fully documented process and quality system