SCM 4350: Exam One UPDATED ACTUAL Questions And Correct Answers
C
Terms in this set (161)
Supply management is a broader concept than A. True
purchasing.
Selection and Evaluation Process Recognize need for supplier selection
Identify key sourcing requirements
Determine sourcing strategy
Identify potential supply sources
Limit suppliers in selection pool
Determine method of supplier evaluation and selection
Select supplier and reach agreement
What opportunities are there in Developing a sourcing Strategy
Purchasing/Procurement/SC?
Executing a sourcing strategy
Can I make a good living doing this as a job?
Managing day to day operations
The overall importance of the purchasing function is A. True
increasing, particularly for firms that compete in
industries characterized by worldwide competition and
rapid change.
, Why Purchasing/Supply Management Is Important Increasing value and savings
Building relationships and driving innovation
Improving quality and reputation
Reducing time-to-market
Contributing to competitive advantage
Supplier evaluation and Selection During new product development
Due to poor existing supplier performance
At the end of existing contract
Buying new equipment
Receiving internal user requisitions
A firm's annual sales are $5,000,000, and its annual ($3,000,000*3%)/9% = $1,000,000
material costs are $3,000,000. The firm's profit margin is
9%. The firm's supply management group sets a goal to
reduce the material costs by 3%, which would increase
the firm's profit accordingly. If the same profit increase
were to be generated by increasing sales, what sales
increase would be required?
Increasing Value and Savings Suppliers have substantial impact on a firm's total cost
Many product features originate from suppliers
In manufacturing, purchased content typically is more
than 55% of revenues
Reducing costs through early involvement in product design stage
Identify Key Sourcing Requirements May be determined by internal and external customers
Supplier quality
Cost
Delivery performance
Vary widely from item to item
Determine Sourcing Strategy Single vs. multiple sourcing
Manufacturer or distributor
Small versus large suppliers
Local or national or international suppliers
Category management is ______ B. the process of developing external industry intelligence and analysis, internal
demand, supply base capabilities and operational risks, and a strategy to
approach that marketplace with the organization's needs to match it with what
suppliers can offer.
C
Terms in this set (161)
Supply management is a broader concept than A. True
purchasing.
Selection and Evaluation Process Recognize need for supplier selection
Identify key sourcing requirements
Determine sourcing strategy
Identify potential supply sources
Limit suppliers in selection pool
Determine method of supplier evaluation and selection
Select supplier and reach agreement
What opportunities are there in Developing a sourcing Strategy
Purchasing/Procurement/SC?
Executing a sourcing strategy
Can I make a good living doing this as a job?
Managing day to day operations
The overall importance of the purchasing function is A. True
increasing, particularly for firms that compete in
industries characterized by worldwide competition and
rapid change.
, Why Purchasing/Supply Management Is Important Increasing value and savings
Building relationships and driving innovation
Improving quality and reputation
Reducing time-to-market
Contributing to competitive advantage
Supplier evaluation and Selection During new product development
Due to poor existing supplier performance
At the end of existing contract
Buying new equipment
Receiving internal user requisitions
A firm's annual sales are $5,000,000, and its annual ($3,000,000*3%)/9% = $1,000,000
material costs are $3,000,000. The firm's profit margin is
9%. The firm's supply management group sets a goal to
reduce the material costs by 3%, which would increase
the firm's profit accordingly. If the same profit increase
were to be generated by increasing sales, what sales
increase would be required?
Increasing Value and Savings Suppliers have substantial impact on a firm's total cost
Many product features originate from suppliers
In manufacturing, purchased content typically is more
than 55% of revenues
Reducing costs through early involvement in product design stage
Identify Key Sourcing Requirements May be determined by internal and external customers
Supplier quality
Cost
Delivery performance
Vary widely from item to item
Determine Sourcing Strategy Single vs. multiple sourcing
Manufacturer or distributor
Small versus large suppliers
Local or national or international suppliers
Category management is ______ B. the process of developing external industry intelligence and analysis, internal
demand, supply base capabilities and operational risks, and a strategy to
approach that marketplace with the organization's needs to match it with what
suppliers can offer.
