BUAD 331 Quiz 2 Questions With Complete Solutions

Sourcing is the inputs, including materials, subassembled components, equipment, and services, that are required to create value correct answer: False Which of the following is not an area in which successful supply managers need expertise? correct answer: Customers When purchasing and supply management works well within an organization, the company acquires the best resources from around the world, which allows its to compete on cost, quality, and innovation. correct answer: True Which of the following is the most important right of purchasing? correct answer: The supplier One of the most challenging aspects of purchasing is to ensure an uninterrupted flow of supply. Which of the following might "interrupt" that flow? correct answer: All of the above A dollar saved in material costs goes directly to an increase in revenue for the organization. correct answer: False Purchasing has become a strategic contributor to organizational value by contributing to both the top and bottom line of the business. correct answer: True The choice of suppliers is important to ensure an uninterrupted flow of supply and avoid some of the problems inherent in complex supply chains. correct answer: True Supplier portfolio analysis was introduced by Michael Porter.