op. man quiz 3

ethical sourcing

-A firm decides to intentionally increase purchases from ethnic minority businesses. This decision can be considered:

The term "benchmarking" as used in business firms is:

-A practice where companies attempt to learn and apply the best practices of other companies

early supplier involvement

-According to the text, which of the following is one of the most effective supply chain integrative techniques?

Utilitarianism and rights & duties

-According to the text, which of the following two approaches are used in deciding whether or not an action is ethical?

Identifying rogue suppliers before they can cause problems or disruptions in their supply chains

-Environmental supplier certification programs can assist companies by doing which of the following?

Monitoring the purchasing function's performance, helps firms to continuously improve their products and processes

-Firms assess their sourcing capabilities because:

One benefit from benchmarking sourcing practices is:

-Firms can learn through others experiences the methods and tools that work the best

waste reduction

-Green purchasing is a practice aimed at ensuring that purchased products or materials meet environmental objectives of the organization such as:

Which of the following can be a result of successful strategic supplier alliances?

-Higher return on investment -Better market penetration -Access to new technologies and knowledge

innovative products

-The Amazon Kindle and Tesla's Model S automobile are two examples of:

The British vote to exit the EU

-Which of the following hastened many organizations' plans to institute better supply chain strategies in the recent past?

Procurement rationalization

-Which of the following is NOT a key area to focus on, in order to establish sustainable sourcing, as identified by a U.K. Food Industry Group on Ethical Trade?

Compare supplier prices based on the lowest cost bid

-Which of the following is NOT a step suggested in the Supply Chain Sourcing Strategy Framework?

Supplier managing inventory at customers' site

-Which of the following is NOT a step used in maintaining a successful strategic alliance program?

Lowering inventory turnover rates

-Which of the following should NOT be used as assessment criteria to evaluate the purchasing department's performance?

Utilitarianism

-Which of the following terms refers to an act that creates the greatest good for the greatest number of people?

ethical and sustainable sourcing

-identifying and selecting environmentally and socially conscious suppliers is one trend followed by firms

92%

-this percentage of organizations claimed they are currently enhancing their ethical sourcing capabilities or planned to do so in the future

The Ethical Trading Initiative (ETI) is:

An alliance of organizations agreeing to implement the ETI Base Code.