IDIS 424 exam 1 questions with
complete solutions10
purchasing - ANSWERS-value added function that leverages supply chain capabilites
leverage effect - ANSWERS-small cost reductions in negotiations with suppliers that lead to
significant improvements in profitability
purchasing is a functional _____ as well as a functional _______ - ANSWERS-group; activity
"the five rights" - ANSWERS-getting the right quality in the right quantity at the right time for
the right price from the right source
value chain - ANSWERS-set of interrelated activities by which a company adds value to its
product/service, leading to competitive advantage
supply chain - ANSWERS-set of 3+ organizations linked directly by 1 or more of upstream or
downstream flows of products, services, finance & information form a source to customer
supply chain management - ANSWERS-proactive management of the 2-way movement &
coordination of goofs, services, information and funds from raw material to end user
4 enablers of SCM - ANSWERS-organization design, HR, information technology capable,
measurement systems
6 purchasing objectives - ANSWERS-1. supply continuity
2. manage purchasing process efficiently & effectively
, 3. develop supply base management
4. develop strong relationships with other functional departments
5. support organizational goals & objectives
6. develop integrated purchasing strategies that support organizational strategies
uninterrupted flow of high quality material to support operational requirements - ANSWERS-
supply continuity
make best use of limited resources to satisfy need of internal customers - ANSWERS-manage
purchasing process efficiently & effectively
improve existing & develop new reliable, high quality sources of supply base - ANSWERS-
develop supply base management
2 way communication, positive & problem solving relationship - ANSWERS-develop strong
relationships with other functional departments
develop as core competency to achieve organizational goals & objectives - ANSWERS-support
organizational goals & objectives
purchasing part of strategic team & acts should align with company's goals - ANSWERS-develop
integrated purchasing strategies that support organizational strategies
6 major tasks (keywords) - ANSWERS-1. identify
2. evaluate
3. supplier selection
4. approval
5. release & receive
complete solutions10
purchasing - ANSWERS-value added function that leverages supply chain capabilites
leverage effect - ANSWERS-small cost reductions in negotiations with suppliers that lead to
significant improvements in profitability
purchasing is a functional _____ as well as a functional _______ - ANSWERS-group; activity
"the five rights" - ANSWERS-getting the right quality in the right quantity at the right time for
the right price from the right source
value chain - ANSWERS-set of interrelated activities by which a company adds value to its
product/service, leading to competitive advantage
supply chain - ANSWERS-set of 3+ organizations linked directly by 1 or more of upstream or
downstream flows of products, services, finance & information form a source to customer
supply chain management - ANSWERS-proactive management of the 2-way movement &
coordination of goofs, services, information and funds from raw material to end user
4 enablers of SCM - ANSWERS-organization design, HR, information technology capable,
measurement systems
6 purchasing objectives - ANSWERS-1. supply continuity
2. manage purchasing process efficiently & effectively
, 3. develop supply base management
4. develop strong relationships with other functional departments
5. support organizational goals & objectives
6. develop integrated purchasing strategies that support organizational strategies
uninterrupted flow of high quality material to support operational requirements - ANSWERS-
supply continuity
make best use of limited resources to satisfy need of internal customers - ANSWERS-manage
purchasing process efficiently & effectively
improve existing & develop new reliable, high quality sources of supply base - ANSWERS-
develop supply base management
2 way communication, positive & problem solving relationship - ANSWERS-develop strong
relationships with other functional departments
develop as core competency to achieve organizational goals & objectives - ANSWERS-support
organizational goals & objectives
purchasing part of strategic team & acts should align with company's goals - ANSWERS-develop
integrated purchasing strategies that support organizational strategies
6 major tasks (keywords) - ANSWERS-1. identify
2. evaluate
3. supplier selection
4. approval
5. release & receive
