©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
MSCM 430 Final Exam Practice
Questions and Answers
the practice of a company promising to buy material products or services from a country in return for
the privilege of selling in the country - Ans:✔✔-counter trades
compares the function performed by the lower purchased item with the cost in an attempt to find a
lower cost alternative - Ans:✔✔-value analysis
Compare value analysis vs value engineering - Ans:✔✔-value analysis is done on purchased items used in
the ongoing production process
value engineering looks at cost saving possibilities in the design stage
arbitration by which disputes arising out of business contracts or transactions may be settled out of
court by a special tribunal. - Ans:✔✔-commercial arbitration
know questions
Page 1/10
, ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
Purpose the the UCC - Ans:✔✔-The purpose of the Uniform Commercial Code (UCC) is to provide a
framework of laws that govern transactions of buyers and sellers in the United States in order to
minimize the risks with the acquisition process and facilitate fair and efficient trade.
What are the two key questions when evaluating potential sources? - Ans:✔✔-1. Is this supplier capable
or supplying our requirements satisfactorily in both the short and long term?
2. Is this supplier motivated to supply these requirements the way we expect in the short and long term?
-Are they worried about catching bigger fish?
Group E - Ans:✔✔-departure
Group F - Ans:✔✔-main carriage unpaid
Group C - Ans:✔✔-main carriage paid by seller
Group D - Ans:✔✔-arrival
What is a BOL? What does it involve? - Ans:✔✔-The contract between the shipper and the carrier, spells
out legal liabilities, evidence of ownership
Page 2/10
FIRST PUBLISH OCTOBER 2024
MSCM 430 Final Exam Practice
Questions and Answers
the practice of a company promising to buy material products or services from a country in return for
the privilege of selling in the country - Ans:✔✔-counter trades
compares the function performed by the lower purchased item with the cost in an attempt to find a
lower cost alternative - Ans:✔✔-value analysis
Compare value analysis vs value engineering - Ans:✔✔-value analysis is done on purchased items used in
the ongoing production process
value engineering looks at cost saving possibilities in the design stage
arbitration by which disputes arising out of business contracts or transactions may be settled out of
court by a special tribunal. - Ans:✔✔-commercial arbitration
know questions
Page 1/10
, ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
Purpose the the UCC - Ans:✔✔-The purpose of the Uniform Commercial Code (UCC) is to provide a
framework of laws that govern transactions of buyers and sellers in the United States in order to
minimize the risks with the acquisition process and facilitate fair and efficient trade.
What are the two key questions when evaluating potential sources? - Ans:✔✔-1. Is this supplier capable
or supplying our requirements satisfactorily in both the short and long term?
2. Is this supplier motivated to supply these requirements the way we expect in the short and long term?
-Are they worried about catching bigger fish?
Group E - Ans:✔✔-departure
Group F - Ans:✔✔-main carriage unpaid
Group C - Ans:✔✔-main carriage paid by seller
Group D - Ans:✔✔-arrival
What is a BOL? What does it involve? - Ans:✔✔-The contract between the shipper and the carrier, spells
out legal liabilities, evidence of ownership
Page 2/10
