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Question 1 of 20
1. Question
An essential feature of strategic sourcing is developing a closer relationship between buyers and supply chain suppliers.
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Question 2 of 20
2. Question
Strategic sourcing strategies involve the selection of suppliers, contracting, product design collaboration, and development of close collaborative relationships.
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Question 3 of 20
3. Question
Sourcing can be defined narrowly as the tactical buying of goods and services.
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Question 4 of 20
4. Question
Supplier relationship management (SRM) was created to deal specifically with the challenges associated with tactical buying.
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Question 5 of 20
5. Question
Strategic sourcing is easy to perform without the use of networking technologies.
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Question 6 of 20
6. Question
Entering into a strategic relationship has what impact?
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Question 7 of 20
7. Question
A clear objective of strategic sourcing is establishing a, more flexible, more responsive supplier base.
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Question 8 of 20
8. Question
Which of the following bid or proposal would be used when suppliers have the opportunity to bid and rebid on a project with the objective of outbidding the competition?
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Question 9 of 20
9. Question
A fundamental starting place in making make or buy decisions is understanding the core competencies of the business.
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Question 10 of 20
10. Question
Engaging in competitive bidding, active sourcing, and using industry standards are all actions that are appropriate if the sourcing strategy is to:
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Question 11 of 20
11. Question
Which type of supplier would most likely be used to purchase highly standardized commodities?
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Question 12 of 20
12. Question
The process used to rate supplier performance is
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Question 13 of 20
13. Question
When sourcing a supplier, a supplier that has a unique technology, distribution arrangement, or permit would be termed
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Question 14 of 20
14. Question
The output of the process of supplier scoring and assessment is used to perform which objective?
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Question 15 of 20
15. Question
A supplier who has met certain criteria and levels of performance that enable them to be considered as a possible supplier for business would be categorized as a
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Question 16 of 20
16. Question
When compared to single sourcing, multiple sourcing provides which advantage?
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Question 17 of 20
17. Question
A purchasing discount based on the total quantity or monetary amount purchased over a given period is termed a
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Question 18 of 20
18. Question
A purchasing discount attained by paying an invoice before the accounts payable terms are reached is a
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Question 19 of 20
19. Question
When developing a sourcing strategy buyers must be careful to:
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Question 20 of 20
20. Question
Which of the following best outlines the tasks required in the first step of the Sourcing Process?
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