LSCM Quiz 5 with correct answers 100% 2026

LSCM Quiz 5 with correct answers 100% 2026 An advantage of e-sourcing and e-procurement is that there is little risk involved. - Correct Answer false Commodities are items or services that are low in risk but high in value. - Correct Answer true Distinctives are low-risk, high-value items that are fundamental to the company's finished product. - Correct Answer false e-Sourcing and e-procurement are the same. - Correct Answer true In the Assess Supply Market step, the firm: - Correct Answer identifies all possible suppliers that might be able to satisfy the user's needs. In the Execute Sourcing Strategy step, the most important thing is to: - Correct Answer choose a supplier or suppliers, depending on the objectives of the sourcing decision. In the Item Procurement Importance Matrix, what describes high risk, low value? - Correct Answer Distinctives In the Item Procurement Importance Matrix, what is described as high risk, high value - Correct Answer criticals In the Item Procurement Importance Matrix, what item is described as low risk, low value? - Correct Answer generics Landed costs are independent of sales/FOB terms. - Correct Answer false Procurement serves as a critical link between members of the supply chain. - Correct Answer true Some firms are moving towards increasing their number of suppliers in order to encourage competition and lower procurement costs - Correct Answer false S trategic sourcing as a process is far more broad and comprehensive than procurement. Overall, the process starts with the formation of a: - Correct Answer steering committee. Strategic sourcing is almost the same as procurement. - Correct Answer false The concept that represents the sum of all costs associated with making and delivering products to the point where they are needed is called: - Correct Answer total landed cost. The first step in managing sourcing and procurement is to determine the type of purchase. - Correct Answer true The most important factor in vendor selection is usually financial health - Correct Answer false There are four steps in the Managing Sourcing and Procurement Processes. Which of the following is not one of them? - Correct Answer Examine off shore and e-procurement suppliers There are seven steps in the Strategic Sourcing Methodology. - Correct Answer true To help guide the strategic sourcing process, five core principles are recognized as key drivers to achieve the desired levels of value, which one is not one of those core principles? - Correct Answer Drive continuous savings