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Study Review Procurement 5

The document discusses key concepts in strategic supply chain management. It states that developing strategic purchasing practices can help companies maintain competitiveness in a changing business environment. It also notes that competition is now between supply chains rather than just firms. Additionally, it affirms that supply management is broader than just purchasing and can impact product quality.

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Alyssa Mae Castro
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99 views3 pages

Study Review Procurement 5

The document discusses key concepts in strategic supply chain management. It states that developing strategic purchasing practices can help companies maintain competitiveness in a changing business environment. It also notes that competition is now between supply chains rather than just firms. Additionally, it affirms that supply management is broader than just purchasing and can impact product quality.

Uploaded by

Alyssa Mae Castro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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The development of strategic purchasing practices can only help a company maintain its competitive

position in a rapidly changing business environment.


a. True
b. False

Global sourcing is a requirement and no longer a luxury for most firms.


a. True
b. False
ANSWER: True DIFFICULTY: Easy

Sophisticated customers, both industrial and consumer, no longer talk about price increases; they
demand price reductions
a. True
b. False
ANSWER: True DIFFICULTY: Easy

An abundance of competitors and choices have conditioned customers to want higher quality, faster
delivery, and products and services tailored to their individual needs at a higher total cost.
a. True
b. False
ANSWER: False DIFFICULTY: Easy

The availability of low cost domestic supplier alternatives has led to the shift away from outsourcing
and offshoring.
a. True
b. False
ANSWER: False DIFFICULTY: Easy

Competition today is no longer between firms; it is between the supply chains of those firms.
a. True
b. False
ANSWER: True DIFFICULTY: Moderate

In the manufacturing sector, the percentage of purchases to sales averages 55 percent.


a. True
b. False
ANSWER: True DIFFICULTY: Easy

The traditional approach to purchasing and supply management is to build relations with suppliers to
jointly pull costs out of the product or service and expect suppliers to contribute innovate ideas that
continually add value to a firms products and services.
a. True
b. False
ANSWER: False DIFFICULTY: Moderate
Most of the features that make their way into final products originate with suppliers.
a. True
b. False
ANSWER: False DIFFICULTY: Easy

Purchasing and supply management has a major impact on product and service quality.
a. True
b. False
ANSWER: True DIFFICULTY: Easy

Supply management is a broader concept than purchasing.


a. True
b. False
ANSWER: True DIFFICULTY: Easy

The routine ordering and follow up of basic operational supplies is a strategic responsibility.
a. True
b. False
ANSWER: False DIFFICULTY: Easy

Supply chain management does not require the coordination of activities and flows that do not extend
across boundaries.
a. True
b. False
ANSWER: False DIFFICULTY: Moderate

According to Porter, a firm’s value chain is composed of primary and support activities that can lead
to competitive advantage when configured properly.
a. True
b. False
ANSWER: True DIFFICULTY: Moderate

Purchasing is becoming less responsible for sourcing indirect goods and services required by internal
groups.
a. True
b. False
ANSWER: False DIFFICULTY: Moderate

Distribution management involves the management of packaging, storing, and handling of materials
at receiving docks, warehouses, and retail outlets.
a. True
b. False
ANSWER: True DIFFICULTY: Easy
Today’s emphasis on supplier quality has shifted from detecting defects at the time of receipt or use
to prevention early in the materials sourcing process.
a. True
b. False
ANSWER: True DIFFICULTY: Moderate

The key to the success of any company is the quality of its employees.
a. True
b. False
ANSWER: True DIFFICULTY: Easy

d. Logistics
e. Treasury operations
ANSWER: b DIFFICULTY: Easy
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The _____ is a change index, and generally a rating over 50 indicates that the economy is expanding.
a. Consumer Price Index
b. Producer Price Index
c. ISM Report on Business
d. rate of inflation
e. None of the above.
ANSWER: c DIFFICULTY: Easy

According to the Institute for Supply Management, _____ is the identification, acquisition,
access, positioning, and management of resources and related capabilities an organization needs or
potentially needs in the attainment of its strategic objectives.
a. supply chain management
b. procurement
c. logistics
d. supply management
e. distribution
ANSWER: d DIFFICULTY: Easy

Instead of adversarial relationships which characterize features a longterm, winwin


relationship between a buying company and specially selected suppliers.
a. traditional purchasing....supply management
b. traditional purchasing....logistics management
c. supply management....traditional purchasing
d. strategic sourcing....supply management
e. supply chain management....strategic sourcing
ANSWER: a DIFFICULTY: Moderate

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