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BUSSCM 1740 Exam 1 Questions with correct Answers 2024/2025( A+ GRADED 100% VERIFIED).
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BUSSCM 1740 Exam 1 Questions with correct Answers 2024/2025( A+ GRADED 100% VERIFIED).
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BUSSCM 1740 Exam 1cloud computing - ANS The shared software and information that users access via the web
cross-functional - ANS Involves purchasing, engineering, supplier quality assurance, the
supplier, and other related functions working together as one team, early on, to further mutual
goals
extended enterprise or value chain - ANS Concept that states that success is a function of
effectively managing a linked group of firms past first-level suppliers
or customers
ISM Report on Business - ANS One of the most closely followed indicators of economic actively
managing and evaluating all of an organization's suppliers in terms of number, size, and location
to meet organizational goals
nearshoring - ANS Involves evaluating suppliers located closer to the United States
organizational design - ANS The process of assessing and selecting the structure and formal
system of communication, division of labor, coordination, control, authority, and responsibility
required to achieve organizational goals and objectives, including supply chain objectives
process approach - ANS The formalized steps and decisions involved in obtaining goods and
services
purchasing - ANS a functional group (i.e., a formal entity on the organizational chart) as well as
a functional activity (i.e., buying goods and services)
reshoring - ANS Involves bringing some sourcing back to the United States
reverse supply chain - ANS The reverse flows of returns following customer use, often for
recycling or disposition
strategic responsibilities - ANS Formally planned activities taken by supply management that
further the overall mission and strategies of the organization.
supply chain - ANS A set of three or more organizations linked directly by one or more of the
upstream or downstream flows of products, services, finances, and information from a source to
a customer
, supply chain management - ANS Endorses a supply chain orientation and involves proactively
managing the two-way movement and coordination of goods, services, information, and funds
(i.e., the various flows) from raw material through end user
supply chain orientation - ANS A higher-level recognition of the strategic value of managing
operational activities and flows within and across a supply chain
supply management - ANS A strategic approach to planning for and acquiring the
organization's current and future needs through effectively managing the supply base, utilizing a
process orientation in conjunction with cross-functional teams (CFTs) to achieve the
organizational mission
third-party logistics provider - ANS full-service transportation providers designing and managing
entire distribution networks for their clients
value chain - ANS Composed of primary and support activities that can lead to competitive
advantage when configured properly
bill of lading - ANS To record the quantity of goods delivered to a facility
blanket purchase order - ANS An open order, usually effective for one year, covering repeated
purchases of an item or family of items
demand management - ANS Proactively setting policies, procedures, and measurement
systems that throttle the consumption and total expenditures of a unit of category of spend
e-procurement - ANS Proactively setting policies, procedures, and measurement systems that
throttle the consumption and total expenditures of a unit of category of spend
escape clause - ANS Allows the buyer to terminate the contract in the event of persistently poor
quality, delivery problems, and so on
internal customers - ANS Internal stakeholders such as marketing, operations, finance, IT,
Human Resources, etc.
maverick buying - ANS The buying from suppliers without knowledge or approval by
procurement.
physical on hand - ANS The actual amount of inventory available in stock.
preferred suppliers - ANS Suppliers who are deemed to be the primary source for a set of
materials or services, and who have formal contracts already established with the buye
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