Supply Chain- Exam 2 Questions With Complete Solutions
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Module
Supply Chain-
Institution
Supply Chain-
Supply Chain- Exam 2 Questions With Complete Solutions
12 Steps of Purchasing Process - Answer-1) A need is identified and a Purchase Requisition is issued
2) Obtain authorization as necessary
3) Identify and evaluate potential suppliers
4) Make supplier selection
5) Purchase Order (PO) is ...
12 Steps of Purchasing Process - Answer-1) A need is identified and a Purchase
Requisition is issued
2) Obtain authorization as necessary
3) Identify and evaluate potential suppliers
4) Make supplier selection
5) Purchase Order (PO) is a created and delivered to the supplier
6) Supplier confirmation of the Purchase Order
7) Fulfillment
8) Receipt of Goods
9) Invoice and Reconciliation
10) Payment
11) Close out the Purchase Order
12) Analysis
/.2 Approaches of the Pull System - Answer--Traditional approach
-Pull approach
/.2 Broad categories of the manufacturing process - Answer-Intermittent Processes
Repetitive Processes
/.3 Components of LEAN - Answer--LEAN manufacturing
-Total Quality Management
-Respect for People
/.3 Foundational aspects of Six Sigma - Answer-1) Quality is defined by the customer
2) Use of technical tools
3) People involvement
/.3 Parts of Procurement - Answer--Purchasing Management
-Strategic Sourcing
-Supplier Relationship Management
/.3 Parts of the basic e-procurement prcess - Answer-1) An electronic issue, collection,
and/or analysis of bids
2) An execution and analysis
3) An award of business via reverse auction
Additional for high $ purchases:
-Authorization of purchase order
-Reconciliation of invoice
,/.3 Primary Objectives of Purchasing - Answer-1) Ensure an uninterrupted flow of
materials and services at the lowest total cost
2) Improve the quality of the finished goods produced
3) Optimize customer satisfaction
/.3 Ways that Purchasing Contributes to its Objectives - Answer-1) Actively seeking
reliable suppliers
2) Working with the expertise of strategic suppliers to improve quality and materials
3) Involving suppliers and purchasing personnel in new product design and
development efforts
/.4 Elements of cost (TCO) - Answer-1) Quality
2) Service
3) Delivery
4) Price
/.5 Key points when creating and implementing a SRM system - Answer-1) Automation-
handles routine transactions
2) Integration- spans multiple depts, processes, and software application
3) Visibility- of info and clear process flows
4) Collaboration- through info sharing
5) Optimization- of processes and decision making
/.7 Components of LEAN Manufacturing - Answer-1) Waste reduction
2) LEAN layouts
3) Inv, setup time, and changeover time reduction
4) Small batch scheduling and uniform plant loading
5) LEAN supply chain relationships
6) Workforce empowerment
7) Continuous improvement
/.7 Tools of Quality Control
-help identify and correct problems - Answer-1) Check sheets
2) histogram
3) Pareto analysis
4) Cause and effect diagram
5) flow diagrams
6) Control charts
7) Scatter diagrams
,/.8 quality management principles that ISO 9000 is based on - Answer-1) Customer
focus
2) Leadership
3) Involvement of people
4) Process approach
5) Systems approach to management
6) Continual improvement
7) Factual approach to decision making
8) Mutually beneficial supplier relationship
/.Acceptable rating in the evaluation system - Answer-require a plan from these
suppliers outlining how they will achieve preferred status
/.Accuracy - Answer-A reduction in errors; A virtual elimination of manual paperwork
and paperwork handling
/.Act - Answer-if change was successful, implement it on a wider scale and continuously
assess your results. If change didn't work, restart cycle
/.Administrative expensives - Answer-Expenses associated with procurement activity,
such as:
-Screening potential suppliers
-Negotiation
-Order preparation
-Order transmission
/.Adv and Disadv of MTO - Answer--Adv: allows customers to buy things that are
customized to their specifications
-Disadv: creates additional wait time for customer to get their product
/.Advantages of Centralization - Answer--Concentrated volume
-Leveraging purchase volume
-Avoiding duplication
-Specialization
-Lower transportation costs
-No competition within units
-Common supply base
/.Advantages of Decentralization - Answer--Knowledge of local requirements
-Local sourcing
-Less bureaucracy
/.Advantages of E-Procurement system - Answer--Time savings
-Cost savings
-Accuracy
, -Real Time
-Management
-Mobility
-Trackability
-Benefits to the suppliers
/.After waste is removed... - Answer-processes are more streamlined, resulting in more
satisfied customers
-Saves your org time and $
/.All of the following are included in the eight wastes EXCEPT?
A) Extra-processing
B) Overspending
C) Overproducing
D) Waiting - Answer-Overspending
/.An organization's process for evaluating the quality systems of key suppliers in an
effort to eliminate incoming inspections can be referred to as?
A) Supplier Certification
B) Supplier Inspection
C) Supply Management
D) Quality Systems Certification - Answer-Supplier Certification
/.An outsourcing program can result in all of the following positive outcomes, except?
A) Cost reduction
B) Reducing staffing levels
C) Gains in manufacturing flexibility
D) Decreased need for supplier management - Answer-Decreased need for supplier
management
/.Another name for uniform plan loading - Answer-"front loading" the plan
"leveling the plan
/.Appraisal costs - Answer-costs associated with the evaluation of purchased materials,
processes, products, and services to ensure that they conform to specifications
Include costs for:
-Testing, evaluating, and inspecting the quality of incoming materials, process setups,
and products, against agree upon specifications
-Quality assessment and approval of suppliers
-performing audits to confirm that the quality system is operating properly
/.As volume goes up, inv and warehousing costs go ______ - Answer-up
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