QMB3200 UCF MIDTERM EXAM
QUESTIONS WITH VERIFIED SOLUTIONS
NEW MODIFIED TESTED AND VERIFIED
Which organizational structure is often adopted by organizations using a decentralized
organizational policy? -- ANSWER--matrix structure
Frank works for a paper company that supplies paper to greeting card manufacturers. In this
scenario, his company participates in ___________ sales. -- ANSWER--B2B
The text describes three types of negotiation in the purchasing process as -- ANSWER-
soft,hard,principled
In the business world, a legal obligation known as ____________ is made when
_____________ is accepted between two capable parties. -- ANSWER--a contract; an offer
What U.S. regulation made it illegal to conspire or collude to restrict competition, such as
price fixing among suppliers or group boycotts? -- ANSWER--the Sherman Anti Trust Act
Sustainability and profitability become less distinguishable in operating a supply chain --
ANSWER--the longer the planning horizon
Page 1 of 26
,The term_________refers to all acquisitions of outside goods and services, and thus includes
both purchasing and other forms of acquisition, such as trading, recycling, or extracting. --
ANSWER--procurement
Marylee told the customer service rep that had been waiting for half an hour in line, but she
had actually only been waiting 15 minutes. Marylee's stated waiting time was
____________time. -- ANSWER--Perceived
Naper Publishing required warehousing and shipping services for its books, so it hired
Independent Publishing Group to provide the services. This is an example of ______. --
ANSWER--subcontracting
In the M/M/1 model, ____________ represents the average number of services that can be
completed in a designated time interval. -- ANSWER--u
An ability that distinguishes a business from its competitors is a -- ANSWER--core
competency
Among the supply chain frameworks that companies may use for reference, metrics, and
standardization, the SCOR model generally works best for? -- ANSWER--tangible goods
providers
Which is one of the objectives of a spend analysis? -- ANSWER--to determine whether any
goods or services would benefit from consolidation into larger categories of purchasing.
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, One way of evaluating supply chain performance is a krajic matrix, which helps with --
ANSWER--supplier positioning
What are the most two commonly used tender evaluation methods? -- ANSWER--linear
averaging and lowest price
Multiple suppliers, manufacturers, and/or service providers may be involved in any product,
with each business relying on other suppliers and providers. This is an example of . --
ANSWER--a supply chain
Outsourcing is limited to production of goods and components. -- ANSWER--False
The Critical Path Method(CPM) of project management begins with the logical assumption
that task times are________. -- ANSWER--deterministic
Drawing an AON network requires representing each activity as a standard shape and joining
these shapes with arcs indicating _______. -- ANSWER--precedence relationships
________is a degree to which a task may be delayed from its early start without delaying the
project. -- ANSWER--Slack
Use of late start and late finish timings is known more generally as _________, referring to
the fact that the last possible finish times are found first. -- ANSWER--backward scheduling
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QUESTIONS WITH VERIFIED SOLUTIONS
NEW MODIFIED TESTED AND VERIFIED
Which organizational structure is often adopted by organizations using a decentralized
organizational policy? -- ANSWER--matrix structure
Frank works for a paper company that supplies paper to greeting card manufacturers. In this
scenario, his company participates in ___________ sales. -- ANSWER--B2B
The text describes three types of negotiation in the purchasing process as -- ANSWER-
soft,hard,principled
In the business world, a legal obligation known as ____________ is made when
_____________ is accepted between two capable parties. -- ANSWER--a contract; an offer
What U.S. regulation made it illegal to conspire or collude to restrict competition, such as
price fixing among suppliers or group boycotts? -- ANSWER--the Sherman Anti Trust Act
Sustainability and profitability become less distinguishable in operating a supply chain --
ANSWER--the longer the planning horizon
Page 1 of 26
,The term_________refers to all acquisitions of outside goods and services, and thus includes
both purchasing and other forms of acquisition, such as trading, recycling, or extracting. --
ANSWER--procurement
Marylee told the customer service rep that had been waiting for half an hour in line, but she
had actually only been waiting 15 minutes. Marylee's stated waiting time was
____________time. -- ANSWER--Perceived
Naper Publishing required warehousing and shipping services for its books, so it hired
Independent Publishing Group to provide the services. This is an example of ______. --
ANSWER--subcontracting
In the M/M/1 model, ____________ represents the average number of services that can be
completed in a designated time interval. -- ANSWER--u
An ability that distinguishes a business from its competitors is a -- ANSWER--core
competency
Among the supply chain frameworks that companies may use for reference, metrics, and
standardization, the SCOR model generally works best for? -- ANSWER--tangible goods
providers
Which is one of the objectives of a spend analysis? -- ANSWER--to determine whether any
goods or services would benefit from consolidation into larger categories of purchasing.
Page 2 of 26
, One way of evaluating supply chain performance is a krajic matrix, which helps with --
ANSWER--supplier positioning
What are the most two commonly used tender evaluation methods? -- ANSWER--linear
averaging and lowest price
Multiple suppliers, manufacturers, and/or service providers may be involved in any product,
with each business relying on other suppliers and providers. This is an example of . --
ANSWER--a supply chain
Outsourcing is limited to production of goods and components. -- ANSWER--False
The Critical Path Method(CPM) of project management begins with the logical assumption
that task times are________. -- ANSWER--deterministic
Drawing an AON network requires representing each activity as a standard shape and joining
these shapes with arcs indicating _______. -- ANSWER--precedence relationships
________is a degree to which a task may be delayed from its early start without delaying the
project. -- ANSWER--Slack
Use of late start and late finish timings is known more generally as _________, referring to
the fact that the last possible finish times are found first. -- ANSWER--backward scheduling
Page 3 of 26
