What type of purchase is high risk, high spending level that requires strategic supplier relationships? correct answers critical goods
Which is the highest level and greatest impact performance improvement strategy that procurement professionals work toward? correct answers total cost of ownersh...
SCMN 3150 Test 2 || with 100% Correct Answers.
What type of purchase is high risk, high spending level that requires strategic supplier
relationships? correct answers critical goods
Which is the highest level and greatest impact performance improvement strategy that
procurement professionals work toward? correct answers total cost of ownership (TCO)
The identification, acquisition, access, positioning and management of resources and related
capabilities the organization needs or potentially needs in the attainment of its strategic
objectives. correct answers supply management
Which types of purchases are used in production processes and add value to the product? correct
answers direct materials
Which step in the procurement process focuses on evaluating a supplier's contract compliance?
correct answers measure and manage performance
(T/F) The purchase cycle begins with identification and evaluation of needs. The more expensive
and unique the goods, the more time and effort will be required. correct answers true
Which of the following is NOT part of Patagonia's fourfold approach to sourcing decisions?
correct answers on-shoring focus
According to this week's reading "Strategic Sourcing: Building a Foundation for Success" the
most important component of a trading partner relationship is... correct answers trust
Which of the following is NOT a major risk when outsourcing a product? correct answers lower
purchase cost
The purchase or a product, part, or component from an outside supplier versus manufacturing it
in-house is called: correct answers outsourcing
Strategic sourcing focuses on all of the following EXCEPT: correct answers lower cost per unit
purchases
(T/F) Strategic Sourcing transforms purchasing from a transaction-oriented process to a driver
for optimal quality and performance at more beneficial life-cycle costs. correct answers true
This process provides high flexibility to produce a variety of products in limited volumes.
Customization tends to be high, while volume is low. Similar equipment or functions are
grouped together and parts travel thru a sequence of processes. Custom made furniture and
aircraft engines are example outputs for this process. correct answers workcenter layout
This process uses interchangeable parts which are added to a product in a sequential manner to
create a large number of uniform finished products. The product is carried mechanized conveyor
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