SCM 311- EXAM 1QUESTIONS &
ANSWERS(RATED A+)
What is the formula for forecast error? - ANSWERActual demand for period t -
forcasted demand for period t
Global Sustainability Index - ANSWERA system of measurement intended to
influence how products are made and purchased in the future (Walmart)
Contractural Relationship - ANSWERtype of relationship that has moderate trust,
moderate interaction frequency, and moderate commitment
B. Decreased need for supplier management - ANSWERAn outsourcing program
can result in all of the following positive outcomes except:
A Reducing staffing levels
B. Decrease need for supplier management
C. Cost reduction
D. Gains in manufacturing felxibility
In his book "The wealth of Nations", Adam Smith stated that economies are -
ANSWERBecoming multi-national
Purchase order - ANSWERConsidered te buyers offer to purchase products or
services from a supplier, is legally binding once the supplier accepts it, and usually
has terms and conditions of a purchase preprinted on the back
Reward Power - ANSWERUse of incentive system in contractual relationships
Cost - ANSWERCollaborative relationships place relatively low importance rating
Just less than 40 % - ANSWERFrom the perspective of managers describing their
perceptions of relationships that their firms have with their suppliers or customers
_________% are characterized as being high trust and consequently more
collaborative
Insourcing - ANSWERThe primary benifits include costs saving and freeing up time
for purchasing staff to concentrate on the firms core activities
Request for quotation - ANSWERWhen a material is not available in the warehouse
and there is no current supplier for the item, the buyer must identify a pool of
suppliers and issue a:
CPFR - ANSWERCollaborative Planning, Forecasting, and Replenishment
ANSWERS(RATED A+)
What is the formula for forecast error? - ANSWERActual demand for period t -
forcasted demand for period t
Global Sustainability Index - ANSWERA system of measurement intended to
influence how products are made and purchased in the future (Walmart)
Contractural Relationship - ANSWERtype of relationship that has moderate trust,
moderate interaction frequency, and moderate commitment
B. Decreased need for supplier management - ANSWERAn outsourcing program
can result in all of the following positive outcomes except:
A Reducing staffing levels
B. Decrease need for supplier management
C. Cost reduction
D. Gains in manufacturing felxibility
In his book "The wealth of Nations", Adam Smith stated that economies are -
ANSWERBecoming multi-national
Purchase order - ANSWERConsidered te buyers offer to purchase products or
services from a supplier, is legally binding once the supplier accepts it, and usually
has terms and conditions of a purchase preprinted on the back
Reward Power - ANSWERUse of incentive system in contractual relationships
Cost - ANSWERCollaborative relationships place relatively low importance rating
Just less than 40 % - ANSWERFrom the perspective of managers describing their
perceptions of relationships that their firms have with their suppliers or customers
_________% are characterized as being high trust and consequently more
collaborative
Insourcing - ANSWERThe primary benifits include costs saving and freeing up time
for purchasing staff to concentrate on the firms core activities
Request for quotation - ANSWERWhen a material is not available in the warehouse
and there is no current supplier for the item, the buyer must identify a pool of
suppliers and issue a:
CPFR - ANSWERCollaborative Planning, Forecasting, and Replenishment
