Reference no: EM132226928

T or F

1) It is not realistic to anticipate that a supplier could reduce its costs and also to increase its quality.

2) According to this class, the “Voice of the Customer” is best represented by the design specifications

3) If there are multiple sources for an identical requirement then the use of purchasing by specification is a typical approach

4) Supply management’s support to its company’s success hinges on its ability to reduce costs, enhance revenues and manage assets.

5) Lack of following the company’s supply process may indicate that the company’s employees do not trust the process or its suppliers

6) One of the functions of a purchase requisition is to get possible price quotes for items from its suppliers.

7) The main objective of an effective supply strategy consists of connecting internal users of purchased goods and services.

8) The judgements made in supply organization could impact the P&L as well as the income the balance sheet.

9) To obtain delivery, quality or cost objectives, top companies tend to expand the size of their supplier base

10) According to the text, early supply involvement occurs when supply managers lead any new product development teams.

11) The degree of uncertainty within a supply chain is a key determinant of the “How much to buy?” question.

12) According to the text, the key point of supply is to determine the right quality materials at the right time in the right quantity and place from the right source at the right service level and at the right price.

13) The process of expediting in a supply chain may be caused by the buyer or the supplier.

14) According to the t ext, the key advantage of electronic data interchange is that information is sent securely and allows rapid transmission of small amounts of data.

15) Internal layoffs, vulnerability to supplier’s risks, and lack of control are some of the considerations when outsourcing

16) Once a process is statistically controlled, it still cannot be compared to the tolerances to see how much of the process falls inside or outside of the tolerances

17) Material used to satisfy a well-defined future need is known as anticipation inventory.

18) One of the areas that is seeing an increase in both volume and scope is the outsourcing of services.

19) A supply approachthat may lower costs, allows for better concentration of the key business competencies, and gain entry to best-in-class capabilities is outsourcing.

20) Almost 70% of the value of any given requirement is established during supplier evaluation and selection.

21) In determining outsourcing decisions, working on the outsourcing contract has less strategic importance than identifying opportunities for outsourcing.

22) The use of the latest technology frequently allows a competitive advantage from product/service differentiation but at a higher cost.

23) When a company measures the differences between service expectations and performance perceptions, it is performing a formal service quality evaluation process.

24) One of the key jobs of forecasting consists of monitoring and adjusting accordingly

25) In accounting, a large sunk cost has a large effect on the decision at hand