Global Sourcing Exam 1 Review UPDATED Exam Questions and CORRECT Answers
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Course
Global Sourcing
Institution
Global Sourcing
Global Sourcing Exam 1 Review
UPDATED Exam Questions and
CORRECT Answers
________ were in charge of spinning fiber, weaving fabrics, and sewing clothing at home -
Correct Answer- Women
Women started _____________ yarns and fabrics from markets as economy becomes more
sophisticated - Correct...
Global Sourcing Exam 1 Review
UPDATED Exam Questions and
CORRECT Answers
________ were in charge of spinning fiber, weaving fabrics, and sewing clothing at home -
Correct Answer- Women
Women started _____________ yarns and fabrics from markets as economy becomes more
sophisticated - Correct Answer- Sourcing
Business___________ were formed for efficient buyer-supplier relationships - Correct
Answer- Clusters
Where have sourcing operations expanded? - Correct Answer- They have expanded beyond
clusters, states, and even across national borders
Labor-oriented businesses have been moved from in high-wage economies (or developed
countries) to ___________ since world war II - Correct Answer- low-wage economies (or
developing countries)
The U.S is one of the largest apparel ___________ countries in the world - Correct Answer-
Importers
How much did the U.S. import in 2014? - Correct Answer- $120 billion and 23% of the
worlds apparel's import
Pros of global sourcing: - Correct Answer- o Reduce material/ operating costs
o Increase quality
o Increase product availability
o Respond quickly to changing market
Cons of Global Sourcing: - Correct Answer- • Higher rates of unemployment
• Intensify gaps between the rich and poor within developed countries
, • Unfair labor practices in developing countries
• Child labor exploitation
• Environmental degradation
A set of business processes and activities by which businesses acquire and deliver
components or fully finished products or services from outside of the organization, with the
objectives of finding, evaluating, and engaging suppliers of goods and services to achieve
long-term competitive advantages. - Correct Answer- Global Sourcing
Sourcing is a ___________ activity. - Correct Answer- Business to Business
Short term outlook - Correct Answer- Procurement
Long term outlook - Correct Answer- Sourcing
Sourcing in the textile and apparel industry involves: - Correct Answer- o Making decisions
regarding the amount of product needed
o Identifying production sites capable of producing goods for retail
o Negotiating prices and discounts
o Maintaining relationships with the manufacturers during the production process, scheduling
deliveries, following to ensure on-time delivery, and maintaining quality
Sourcing tends to concentrate on acquisition and delivery of components or products or
services from outside of the organization to the organization. - Correct Answer- Global
Sourcing
Sourcing tends to concentrate on acquisition and delivery of ___________ or products or
services from outside of the organization to the organization. - Correct Answer- Components
A Supply chain is a ___________ of materials, information, and service processing links
within the characteristics of supply, transformation, and demand. - Correct Answer- network
A network of materials, information, and service processing links within the characteristics of
supply, transformation, and demand. - Correct Answer- Supply chain
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