Reference no: EM133402776
Questions
1. If a supplier perceives you as a customer as a development, what should your strategy be for bottleneck buys?
Manage risk and look for a new supplier that values you more
Seek cost saving projects
Manage risks proactively and consider supplier development opportunities
Identify compatibilities and build those together
2. Single sourcing is a strategy used by some organizations. Which of the following is a benefit of single sourcing?
Lower freight costs on consolidated orders
Competition ensures price and service
Risk mitigation
Synergies between multiple suppliers benefit the buyer
3. Which of the following is the "Monitoring" step in the supplier selection process?
Define key selection criteria, compare costs and capabilities, visit suppliers and establish an approved list
Know who all your suppliers are
Pick the "best" supplier and get contract signed
Make sure the supplier is performing to promise
4. Which of the following is the "Identification" step in the supplier selection process?
Watch performance and communicate results on a consistent basis
Define key selection criteria, compare costs and capabilities, visit suppliers and establish an approved list
Pick the "best" supplier and get contract signed
Know who all your suppliers are
5. As a purchasing professional, what is your role in the p-card process?
Provide the funding stream for a wide variety of program logistics
Select p-card issuer and negotiate the agreement
Work with IT to design and easy-to-use web interface
Management and control of activities
6. Multi-criteria analysis is an intuitive tool that helps you select the right supplier. One of the strengths of multi-criteria analysis is that it enables you to "________" qualitative decisions.
Divide
Multiply
Quantify
Exploit
7. Collecting data and filling out the matrix is which of the following steps in Multi-criteria analysis?
Define scoring system
Set weights
Evaluate options
Decide on criteria
8. The formal process of asking "What if...?" questions in a decision-making process is called what?
Sensitivity analysis
Cost variance
Decomposition
Expediting
9. As a purchasing professional, when you don't stay ahead of the ________, you and your company will become irrelevant.
Technology game
Competitor's core competence
Changing market
Supplier contract
10. Purchasing professionals need to ________ and ________ in order to find the right supplier.
Overpromise; underperform
Lower market share; write contracts
Get the lowest price; monitor delays
Ask tough questions; do their
11. Deciding how important each criterion is is which of the following steps in Multi-criteria analysis?
Define scoring system
Decide on criteria
Set weights
Evaluate option