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SCM 303 Exam 3 MSU Fall 19 Questions and Correct Answers the Latest Update
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SCM 303 Exam 3 MSU Fall 19 Questions and Correct Answers the Latest Update
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SCM 303 Exam 3 MSU Fall 19 Questions
and Correct Answers the Latest Update
The use of the concepts of purchasing, procurement, supply, and supply chain
management will vary from organization to organization depending on:
✓ the organization's stage of development and/or sophistication, the industry in which
they operate and the organization's competitive position.
Interest in the supply function as a managerial activity began
✓ during World Wars I and II because of global materials shortages.
In manufacturing organizations, the dollars spent with suppliers fall into what
range as a percent of revenues?
✓ 50-80%
Supply Chain Management
✓ a systems approach to managing the flow of information, materials and services from
tiers of suppliers through the buying organization to tiers of customers
Supply manaement has evolved from a transaction-based, tactical function to a
process-oriented, strategic functions
✓ True
A zero defects quality strategy emphasizes
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✓ "do it right the first time"
environmental change strategies
✓ Designed to anticipate and recognize shifts in the total environment, economic,
organizational, people, legal, governmental regulations and controls, and systems
availability
Most organizational objectives can be summarized under four categories
✓ survival, growth, financial and sustainability
The key question in strategic supply management is:
✓ How can supply and supply chains contribute effectively to organizational objectives
and strategy?
Subcontracting refers to the practice of:
✓ a prime contractor bidding out part of a job to another contractor.
Privatization is
✓ term used for outsourcing in the public sector
An organization may decide to continue to produce a good or service in-house
rather than outsource:
✓ to control the quality of customer service and to reduce risk.
The type(s) of procurement outsourcing contracts include:
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