Global sourcing exam 1 - Study guides, Class notes & Summaries
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CIPS L4M8 Chapter 2 Exam Questions And Answers
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CIPS L4M8 Chapter 2 Exam Questions And Answers 
 
 
Sourcing involves - ANS identifying and vetting those suppliers who are able to supply the product or service, as required in a specification from a procurement professional 
 
Different stages of Ordering - ANS - User need 
- Raise requisition 
- Approved process 
- Issue PO 
- Receive goods/service 
- Approve invoice 
 
Different stages of Sourcing - ANS - Understand the need 
- Develop strategy 
- Raise requisition 
- Source sup...
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CIPS L4M8 LO2 Exam Questions and Answers 100% pass
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CIPS L4M8 LO2 Exam Questions and 
Answers 100% pass 
what are the stages of ordering? - Correct Answer ️️ -1) user need 
2) raise requisition 
3) approved process 
4) issue PO 
5) receive goods/service 
6) approve invoice 
what are the stages of sourcing? - Correct Answer ️️ -1) understand the need 
2) develop strategy 
3) raise requisition 
4) source suppliers 
5) issue ITT/RFQ 
6) negotiate and award contract 
7) SRM/contract management 
in what locations can sourcing take place? - Cor...
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International Business Exam 1 Review Latest Update 100% Correct
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International Business Exam 1 Review 
 
Latest Update 100% Correct 
 
Globalization Movement from thinking about markets in terms of geographic areas to 
thinking about them as something that transcends borders; the shift towards a more integrated 
and interdependent world economy 
 
World-wide sourcing All types of businesses are getting inputs from several global locations 
 
Globalization of markets Merging of historically distinct and separate national markets into 
one huge global market; 
...
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LSCM Exam 1 Questions & Answers 2024/2025
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LSCM Exam 1 Questions & Answers 2024/2025 
 
 
Supply Chain Logistics Management, involves collaboration between firms to connect suppliers, customers, and other partners as a means of boosting efficiency and producing value for the end consumer. - ANSWERSTrue 
 
According to the articles which of the following are part of the six components of Supply Chain? - ANSWERSall of the above 
-planning 
-sourcing 
-delivering/distribution 
-making/manufacturing 
 
The article discusses about one advanta...
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CIPS L4M8 LO2 Exam Questions and Answers 100% pass
- Exam (elaborations) • 21 pages • 2024
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CIPS L4M8 LO2 Exam Questions and 
Answers 100% pass 
what are the stages of ordering? - Correct Answer ️️ -1) user need 
2) raise requisition 
3) approved process 
4) issue PO 
5) receive goods/service 
6) approve invoice 
what are the stages of sourcing? - Correct Answer ️️ -1) understand the need 
2) develop strategy 
3) raise requisition 
4) source suppliers 
5) issue ITT/RFQ 
6) negotiate and award contract 
7) SRM/contract management 
in what locations can sourcing take place? - Cor...
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SCMN 2150 Exam 2 Robert Straw Questions and Answers Already Passed
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SCMN 2150 Exam 2 Robert Straw 
Questions and Answers Already Passed 
 
What is procurement? The purchase of merchandise or services at the optimum possible total 
cost in the correct amount and quality 
 
What is strategic sourcing? an institutional procurement process that continuously improves 
and re-evaluates the purchasing activities of a company 
 
What is the difference between traditional purchasing and strategic sourcing? strategic 
sources seeks for continuous improvement 
 
What are t...
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CIPS L4M8 LO2 Exam Questions and Answers 100% pass
- Exam (elaborations) • 21 pages • 2024
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CIPS L4M8 LO2 Exam Questions and 
Answers 100% pass 
what are the stages of ordering? - Correct Answer ️️ -1) user need 
2) raise requisition 
3) approved process 
4) issue PO 
5) receive goods/service 
6) approve invoice 
what are the stages of sourcing? - Correct Answer ️️ -1) understand the need 
2) develop strategy 
3) raise requisition 
4) source suppliers 
5) issue ITT/RFQ 
6) negotiate and award contract 
7) SRM/contract management 
in what locations can sourcing take place? - Cor...
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LSCM Exam 1 2024 with 100% Correct Answers
- Exam (elaborations) • 7 pages • 2024
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LSCM Exam 1 2024 with 100% Correct Answers 
 
 
Landed costs are independent of sales/FOB terms. t/f - ANSWERSF 
 
An advantage of e-sourcing and e-procurement is that there is little risk involved t/f - ANSWERSF 
 
e-Sourcing and e-procurement are the same t/f - ANSWERST 
 
The mathematical calculation of the point of equality between systems under analysis is used for short-run/static analysis t/f - ANSWERSF 
 
It is predicted that social networks such as Facebook and Twitter will influence s...
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Global Sourcing Final UPDATED Exam Questions and CORRECT Answers
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Global Sourcing Final UPDATED Exam 
Questions and CORRECT Answers 
What percent of apparel consumed by the US is made here in the US? - Correct Answer- 3% 
The textile and apparel industry is worth how much money? - Correct Answer- 3 trillion 
dollars 
How many people in the world work in an industry that is part of or relates to the fashion 
industry? - Correct Answer- 1 and 6 people
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MKT 310 MSU Exam 1 Questions & Answers 2024/2025
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MKT 310 MSU Exam 1 Questions & Answers 2024/2025 
 
 
globalization - ANSWERSthe shift toward a more integrated and interdependent world economy 
 
globalization of markets - ANSWERSmerging of historically distinct and separate national markets into one huge global marketplace 
 
what are the most global of markets? - ANSWERSmarkets for industrial goods and materials. 
 
ex: aluminum, oil, wheat 
 
what assets to firms bring with them have served them well in other national markets? - ANSWERSthe...
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