SUPPLY CHAIN MANAGEMENT PRINCIPLES(B2) -
PRACTICE QUESTIONS AND ANSWERS #10
What is the supply chain function that receives inputs from the demand plan to procure
materials, equipment, and services? - correct answer Procurement
Which of the following is considered to be a binding contract? - correct answer
Purchase order
In many cases, procurement awards purchase orders to suppliers based on: - correct
answer best value
Strategic sourcing is based on which type of relationship? - correct answer cooperative
Procurement initiates rfps and sends them to suppliers. RFP stands for: - correct
answer request for proposal
Discussions between buyers and sellers to reach agreements are called: - correct
answer negotiations
Rfqs are used to obtain pricing and delivery inputs from suppliers. RFQ stands for: -
correct answer request for quotation
Procurement employees are often part of a team to determine which type of decision
management process? - correct answer make or buy
Short-, mid-, and long-term planning are collectively used to ensure a balance of supply
and demand and to: - correct answer Ensure that supply is available
After purchase orders are awarded to suppliers, buyers have the additional role of
ensuring that: - correct answer Purchase orders are tracked for on-time delivery
PRACTICE QUESTIONS AND ANSWERS #10
What is the supply chain function that receives inputs from the demand plan to procure
materials, equipment, and services? - correct answer Procurement
Which of the following is considered to be a binding contract? - correct answer
Purchase order
In many cases, procurement awards purchase orders to suppliers based on: - correct
answer best value
Strategic sourcing is based on which type of relationship? - correct answer cooperative
Procurement initiates rfps and sends them to suppliers. RFP stands for: - correct
answer request for proposal
Discussions between buyers and sellers to reach agreements are called: - correct
answer negotiations
Rfqs are used to obtain pricing and delivery inputs from suppliers. RFQ stands for: -
correct answer request for quotation
Procurement employees are often part of a team to determine which type of decision
management process? - correct answer make or buy
Short-, mid-, and long-term planning are collectively used to ensure a balance of supply
and demand and to: - correct answer Ensure that supply is available
After purchase orders are awarded to suppliers, buyers have the additional role of
ensuring that: - correct answer Purchase orders are tracked for on-time delivery
