Reference no: EM133327032

Question 1.

Category management should be considered for ____________.

Complex projects

Significant spend (amount may wary by company)

High risk categories that could impact operations or customers

All of the above

Question 2.

Learning curves apply _______________________.

to longer term factors of production that systematically reduce production costs

to the average direct labour hours to produce a unit of output

to machine enhancements that save labour hours

only to large scale projects

Question 3.

When speaking of negotiation tactics, the term "High Ball" means:

high value potential for the result of the negotiation

taking an abnormally high position on an issue

asking for a high price based solely on the competitions pricing

Question 4.

When speaking about contract law, a contract can be defined as:

Question 5.

A set of promises between two or more parties the performance of which the law expects, the breach of which the law provides remedies.

A document to determine fault when something goes wrong

A document to ensure suppliers are committed.

Question 6.

In legal thinking, a contract has which of these elements.

offer

acceptance

consideration

all of the above

Question 7.

To avoid inflating inventory values by including freight costs, the Buyer should:

Ship inbound freight as FOB destination

Ship inbound freight as FOB origin

Ship inbound freight as FOB delivered

Question 8.

A Request for Quote (RFQ)

Is a request for price and availability

Is not an offer

Can eventually lead to a contract

All of the above

Question 9.

Unless otherwise specified in the purchase contract, the UCC recognizes _________ as the default delivery term.

FOB destination

FOB origin

FOB delivered

Question 10.

Many firms fail to consider the higher cost of inventory when they outsource their supply chain overseas. Some of these costs are:

Inventory obsolescence

Longer planning times

Slower customer response

Choices a. and b.

Choices a., b., and c. above

Question 12

Indirect spend is described as:

Any purchased good that is not accounted for in the companys annual spend

Any purchased good that does not appear as inventory

Any purchased good or service that that does not end up in the product delivered to a customer

Question 13.

When talking about motor carriers, we define Private Carriers as:

Those that must serve the general public without discrimination based on published rates for specific goods

Those that serve a shipper (buyer) under specific, negotiated contract terms and do not hold itself out to serve the general public

Manufacturers or distributors that control and manage its own transportation equipment, whether owned or leased