SCMN 3730 EXAM 1 NEWEST ACTUAL EXAM
COMPLETE 70 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
what are the features of the new model of progressive purchasing? - ANSWER1. closer
relationships with important suppliers
2. performing due diligence on suppliers before awarding long-term contracts
3. conducting worldwide searches for the best sources of supply
4. inviting key suppliers to participate in produce & process development
what is meant by direct materials? - ANSWERitems provided by suppliers & used
directly during production or service delivery
ex: raw materials, components & sub assemblies
what is meant by indirect materials & services? - ANSWERthe sum of all purchased
goods & services that are not a direct, identifiable part of products or services delivered
to the customer
what is the average percentage of purchases to sales in the manufacturing sector? -
ANSWER55%
explain the relationship between outsourcing & core competencies - ANSWER-
availability of low-cost alternatives has led to shifts toward outsourcing & offshoring
activities
- must now evaluate the economics of re-shoring & near-shoring
what is the difference between purchasing/procurement & supply management? -
ANSWER
, what is meant by the term cross-functional? - ANSWERinvolves purchasing,
engineering, supplier quality assurance, the supplier, & other related functions working
together as one team, early on, to further mutual goals
what factors are driving an emphasis on supply chain management? - ANSWER
what are the 4 pillars of purchasing & supply chain management? - ANSWER- human
resources
- organizational design
- information technology
- measurement
definition of supply management - ANSWERinvolves proactively managing the two-way
movement & coordination of goods, services, information & funds from raw material
through end user
why is purchasing important? - ANSWER- increasing value & savings
- building relationships & driving innovation
- improving quality & reputation
- reducing time-to-market
- managing supplier risk
- generating economic impact
- contributing to competitive advantage
what is maverick buying? - ANSWERwhen failing to respond to the needs of internal
customers will diminish the confidence these users have in purchasing, so they then try
to negotiate contracts themselves
what are the steps in the purchasing cycle? - ANSWER1. purchase order creation
2. budget check & RFP
3. vendor qualification & selection
4. negotiation & PO dispatch
5. delivery & quality check
6. purchase order matching & closure
what are the circumstances when a spot buy would be appropriate? - ANSWERwhen
buyers prefer a purchase order for initial purchases or a one-time purchase
what does it take to become a preferred supplier? - ANSWER- receive the first
opportunity for new business
- has demonstrated its performance capabilities through previous purchase contracts
explain when it is appropriate to issue a blanket order & what this means - ANSWER-
usually open for 1 year
- used for repeated purchases of item of family of items
- release materials as needed vs issuing new purchase order each time
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