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new progressive purchasing model - correct answer -closer relationships with key suppliers -performing due diligence on suppliers before awarding long-term contracts -conducting worldwide searches for the best sources of supply -inviting key suppliers to participate in product and process development also, executive managers began to require purchasing professionals to achieve demanding performance improvements today's business climate - correct...

What are integrative supply chain strategies and how do they occur? - correct answer when corporate strategic plans are effectively "cascaded" into specific supply management and category goals Companies that are successful in deploying supply chain strategies do so because the strategy development process is integrative. Why does senior management routinely turn to cost reduction (over revenue) to improve a company's financial performance - corr...

What situations call for negotiation with suppliers vs. competitive bidding? - correct answer Negotiation is more appropriate when other issues besides price are important or when competitive bidding will not satisfy the buyer's requirements on various issues What is a BATNA? - correct answer Best Alternative to a Negotiated Agreement The point in the negotiation where it is most advantageous for the negotiator to wal...

The _ matrix helps explain the financial importance of commodities, and helps inform how supply chains should be managed. - correct answer Kraljic Kraljic matrix: high importance, low risk - correct answer leverage, materials (management), exploit Kraljic matrix: high importance, high risk - correct answer strategic, supply (management), balance Kraljic matrix: low importance, low ri...

Price Analysis - correct answer Process of comparing supplier prices against external price benchmarks without knowledge of supplier costs Cost Analysis - correct answer Process of analyzing each individual cost element that add up to final price Total Cost Analysis - correct answer Applies price/cost equation across multiple processes that span two or more organizations across a supply...

what are the features of the new model of progressive purchasing? - correct answer 1. closer relationships with important suppliers 2. performing due diligence on suppliers before awarding long-term contracts 3. conducting worldwide searches for the best sources of supply 4. inviting key suppliers to participate in produce & process development what is meant by direct materials? - correct answer items provided by supplie...

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What is the only medically proven method to remove alcohol or other drug combinations from your system? - correct answer Time If the gates at a railroad crossing are down and red lights are flashing, you should: - correct answer Stop and proceed only when the gates are raised and the lights have stopped flashing. You see a school bus with flashing amber (yellow) lights. What is the bus driver doing? - correct answer ...

Risk Pooling - A group sharing the possibility of a loss. Risk transferred from individual to group. Law of Large Numbers - The principle that the larger the number of individual risks in a group, the more certainty there is as to the amount of loss incurred in any period. This is based on the science of probability and the experience of mortality and morbidity statistics. Speculative Risk - Involves the chance of both loss or gain. Pure Risk - Involves only the chance of loss, no possi...

author's purpose/attitude - correct answer The author's reason for writing/point trying to get across classification - correct answer putting something in a certain order or category determine - correct answer to figure out prefix - correct answer the letters before a word that help determine its meaning (UN-make, BE-fore, ANTI-slavery) str...