About sustainable-responsible sourcing and procurement

Assignment Help Operation Management
Reference no: EM13962729

1) Which of the following statements about procurement is true?

A) It is important to always focus on price only

B) Aspects such as delivery delays, defects, or service may impact the total cost of a purchase even if the price is low

C) The cost of inspections of purchased items is irrelevant to procurement

D) In general, procurement costs have a lower impact on profit now compared to 50 years ago

E) All of the above

2) Which of the following statements about supply market complexity is true?

A) Markets with few suppliers have higher supply risk than markets with many suppliers

B) Products with unique specifications are generally associated with low supply risk

C) Markets with excess capacity have higher supply risk than markets with restricted capacity

D) Products with few potential subsitutes are generally associated with low supply risk

E) None of the above

3) Which of the following statements about supply mapping is true?

A) For "tactical" items, transaction costs are high compared to the value of the item

B) Generic items sourced in large quantities are referred to as "critical"

C) For "leverage" items, it is important to actively search for alternatives and use long-term contracts

D) Capital equipment generally falls into the "strategic" category

E) All of the above

4) Suppose you are sourcing a high risk, high profit impact item. Which of the following describes a suitable approach/strategy according to the risk-spend framework?

A) Streamline acquisition process

B) Maximize leverage

C) Search for substitutes only

D) Consolidate volumes

E) None of the above

5) Which statement about the sourcing process is true?

A) One of the key purposes of the internal assessment step is to analyze supplier dynamics

B) It is important to develop a category implementation plan before RFPs are sent out

C) The feedback loop is primarily a reporting step

D) The sourcing process is only relevant for leverage items

E) None of the above

6) Which of the following statements about RFPs/RFQs is true?

A) It is important to have the supplier answer as many questions as possible

B) It is important to have as few questions as possible to ensure many suppliers respond

C) It is important to start negotiating before the responses come in

D) It is important to be transparent in how suppliers will be evaluated

E) All of the above

7) Suppose you are about to purchase capital equipment. Which of the following cost categories is relevant to consider on top of the upfront purchase price before making the purchase?

A) Taxes and duties

B) Disposal costs

C) Training and certification

D) Expected downtime

E) All of the above

8) Which of the following is a key element of an outsourcing contract?

A) A change control process

B) Dispute resolution

C) Termination procedures

D) A comprehensive service definition

E) All of the above

9) Which of the following describes a hedging strategy where something is bought today at today's price to be delivered next month?

A) Forward contract

B) Call option

C) Put option

D) Physical hedging

E) Nonce of the above

10) Which of the following is true about sustainable/responsible sourcing?

A) Environmental responsibilities are the most important ones for all firms

B) Brand image is normally not considered an important aspect of CSR

C) Traing of suppliers is primarily a philantropic move

D) There is a hierarchy of reponsibilities, and the most important resonsibility is the economic responsibility

E) None of the above

Reference no: EM13962729

Questions Cloud

Examples of personal or professional decisions : What are some examples of personal or professional decisions where constrained optimization might be applied? You don't have to formulate the mathematical problem, just discuss what the decision variables would be,
About the cooperative strategy : From an ethical perspective, determine how much information a firm is obliged to tell a potential strategic alliance partner about what it expects to learn from the cooperative arrangement. Explain your rationale. From the e-Activity, determine which..
Rewrite the two constraints as equations : Rewrite the two constraints as equations by adding slack variables S1 and S2. Set up the initial simplex tableau for this problem.
Differentiation between foreign branching-equity investment : Discuss in scholarly detail a differentiation between foreign branching, equity investment, and wholly owned subsidiaries. In addition, what are some risks firms face with a foreign subsidiary strategy? Explain.
About sustainable-responsible sourcing and procurement : Which of the following statements about procurement is true? Which of the following statements about supply market complexity is true? Suppose you are sourcing a high risk, high profit impact item. Which of the following describes a suitable approach..
Determine optimal product mix-profit contribution : Develop the objective function and constraints required for the problem. Determine optimal product mix and profit contribution. Please note that the profit contribution per pound of $1.65 for the Regular Mix, $2.00 for the Premier Mix, and $2.25 f..
The asset is completely destroyed : Suppose you wish to insure an asset valued at $100. Only two states of the world can occur in the future, FIRE and NO FIRE, with probabilities .25 and .75 respectively. In the FIRE state, the asset is completely destroyed. Your initial wealth (includ..
Interpreting management reports-responsibility centers : Wood4Fun makes wooden playground equipment for the institutional and consumer markets. The company strives for low-cost, high-quality production because it operates in a highly competitive market in which product prices is set by the market place and..
Newly established healthcare entity promoting : Place yourself in the role of marketing director a for a newly established healthcare entity promoting a product of your choice. Develop a communications strategy for addressing target audiences during each of the stages of the DAGMAR Marketing Commu..

Reviews

Write a Review

 

Operation Management Questions & Answers

  Multinational companies and the risk of terrorism

Determine one (1) set of corporate risk-assessment categories that would be a starting point for a multinational enterprise as it relates to audits, emergencies, and disaster preparedness. Analyze the importance of a company having a disaster recover..

  The project is slightly under budget

You are the project manager of a major IT project in Italy. You review your earned value report and you see that your CPI is .78. What does this mean to you? The project is slightly under budget

  Information about what is marketing research

This posting describes what is marketing research. It states the many ways to conduct the research, as well as how the internet has impacted field.

  How can managers use the results of a-b-c classification

How can managers use the results of A-B-C classification?

  Comparing the two primary considerations

Write a paper comparing the two primary considerations, from the aviation security viewpoint, of both landside and terminal security system design planning.

  Determine the optimal value of the objective function

Use Graphical Solution methodology to find the optimal solution of the above Linear Programming model, which means you need to find the optimal value of x1 and x2. Determine the optimal value of the objective function. Write down the Linear Programmi..

  Management in a foreign country

Research business practices and labor issues in Brazil, South Africa, Turkey, or Japan (choose one location). Discuss the advantages and disadvantages of planning a project in this country. Use specific examples to support your opinion of why you wou..

  Construct a network diagram for the project

The following data were obtained from a project to create a new portable electronic. Construct a network diagram. What is the Scheduled Completion of the Project? for the project.

  Advantages of credit suisses new supplier management

What are the advantages of Credit Suisse’s new supplier management/evaluation system?

  Professional magazine regarding the value of diversity

You are preparing to write an article for a professional magazine regarding the value of diversity in teams. Diversity can include any of the following:

  Reduce pressures on managers and decrease ethical conflicts

American Products Corporation participates in a highly competitive industry. In order to meet this competition and achieve profit goals, the company has chosen the decentralized form of organization. Identify the ethical implications, conflicts, or d..

  Type of benchmarking

For each type of benchmarking you have selected, identify one (1) benchmarking measure and discuss how the organisation can apply this benchmarking measure to listen to the Voice of the Market. Each benchmarking measure shall come from one of the ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd