Quiz Questions

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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


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