Procurement Evaluation Metrics

A balanced scorecard is intended to measure as many metrics as possible.

Which of the following is true regarding a key performance indicator?

Procurement performance metrics and objectives should be aligned to which of the following?

Which of the following is true regarding acquisition cost of a product?

Which of the following are procurement metrics for social responsibility? Check all answers that apply.

From a financial perspective, days of supply measures the value of all inventory in the supply chain divided by the average daily _________ rate.

Calculate the inventory turnover using the following information:

Annual Cost of Goods Sold = $4,500,000

Average inventory = $1,500,000

Inventory Turnover = __________________

The category method of measuring suppliers is the least subjective.

Which of the following is true regarding a supplier measurement system?

Select the area of performance being measured by the item below:

Metric: Demurrage and detention costs

A company would most likely implement a supplier certification program in order to:

An organization is performing an evaluation of its suppliers. The following information has been collected from a supplier.  What is the overall score of that supplier?

Select the area of performance being measured by the item below:

Metric: Dollar value of rejected items versus total value of shipments

In comparing an additional supplier for the same component, the overall score for both suppliers is the same.  If the organization wants to select a supplier who scores better in sustainability and ethical sourcing, which supplier should they choose?

Select the area of performance being measured by the item below:

Metric: Internal customer satisfaction

One of the benefits of an intelligent supply chain is increased visibility of problems.

The primary purpose of supply chain event management (SCEM) is to provide users the ability to:

Immediate traceability through an audit trail of all transactions is available through a __________.

Which of the following uses computations to suggest options and make recommendations?

Select the type of intelligent technology that fits the description noted below:

Description: Centralized hub for monitoring supply chain transactions

Select the type of intelligent technology that fits the description noted below:

Description: Flagging of certain supply chain events

Select the type of intelligent technology that fits the description noted below:

Select the appropriate SCOR performance attribute that matches the description given below:

Description: Ability to perform tasks as expected

Select the appropriate SCOR performance attribute that matches the description given below:

Description: Speed at which tasks are performed

The first step of implementing a procurement metrics program is to determine what to measure. What is the second step?