ASCM 626 FINAL EXAMINATION All exams must be posted in your Assignment Folders as one document. If problems exist uploading to the assignment section of the course, you can e-mail your exam to ry1nik1@gmail.com. It is your responsibility to ensure that your exam is successfully submitted and can be read using MS Word. The organization, depth, and clarity of responses will be important grading considerations. The Final examination is an individual assignment; not a group assignment. Once you upload your completed exam to your Assignments Folder, do not make any revisions. The exam is scaled to 100 points. Instructions: 1. Insert your name here: __________________ 2. Final responses must be consolidated into one Word document. 3. Essay responses are to be single-spaced. MULTIPLE CHOICE SECTION (20 points total). Highlight the best response. 1. Kanban systems can best be described as: a. b. c. d. e. Planning tools Pricing methods Negotiating strategies Information technology components Control mechanisms 2. Which one of the following is NOT an example of a strategic purchasing measurement indicator? a. b. c. d. e. Average time spent in negotiations with suppliers Supplier lead-time Supplier development costs and benefits Proportion of suppliers participating in early product design Savings achieved from part standardization efforts 3. Negotiation _____ refers to the overall approach used to reach a mutually beneficial agreement with a supplier that holds different points of view from the buyer. a. b. c. d. e. tactics positioning strategy boulwarism pricing 4. When a Purchasing professional purchases an item from an unauthorized source it is referred to as: a. Strategic positioning b. c. d. e. Tactical procurement Spend justification Maverick spending Revenue pricing 5. _____ essentially determines the nature of agreements that are enforceable and create legal rights between the parties. a. b. c. d. e. Agency law Contract law Civil law Litigation Municipal law 6. _______ is that level of authority perceived by the seller to be available to the purchasing manager. a. b. c. d. e. Actual authority Apparent authority Consideration Personal liability Transparent authority 7. Freight shipped _____ means the supplier retains title to the goods and controls the shipment until it is physically received and off-loaded at the consignee's dock. a. b. c. d. e. FOB carrier FOB origin FOB destination FOB in transit None of the above 8. Motor carriers are characterized by _____ variable costs, while rail carriers have comparatively _____ fixed costs. a. b. c. d. e. higher....high lower....high higher....low lower....low There is no difference in variable and fixed costing between motor and rail carriers. 9. _____ is the continuous measuring of products, services, processes, activities, and practices against a firm's best competitors or those companies recognized as industry or functional leaders. a. b. c. d. e. TCO TQM Effectiveness Benchmarking Efficiency 10. All of the following are examples of the future focus on supply chain performance except _______. a. accelerating and obtaining more innovation from suppliers b. focusing more and more on day-to-day tactical purchasing activities c. leveraging supplier capabilities and know-how to establish new sources of revenue d. identifying and mitigating supply risks of any kind to ensure business continuity e. expanding the breadth and depth of cost management efforts ESSAYS (80 points total). Answer A, B, C, and D. Substantial responses are required to earn full credit. Responses should include original, analytical thought as well as support from our text and other professional sources (properly cited). You should consider the essays as opportunities to demonstrate your knowledge of the concepts we are covering in PCMS 626. Each essay is worth 20 points. A. Discuss the implications of information technology for the Purchasing/Supply Management function. How has IT most helped Purchasing and Supply Management professionals carry out their responsibilities? Are there aspects of IT application that can present problems for them? B. Discuss the advantages and disadvantages of long-term contracts. Do you think the advantages outweigh the disadvantages, or vice-versa? Why, and under what circumstances? C. Why must procurement professionals be knowledgeable about procurement law? Provide examples (actual or hypothetical) to support your case. D. What three recent trends (i.e., past 20 years) do you think are the most important for the field of purchasing/supply management? Please explain. SAVE YOUR EXAM WITH A FILE NAME DIFFERENT THAN THE ORIGINAL TURN IT IN TO YOUR ASSIGNMENT FOLDER ASCM 626 FINAL EXAMINATION All exams must be posted in your Assignment Folders as one document. If problems exist uploading to the assignment section of the course, you can e-mail your exam to ry1nik1@gmail.com. It is your responsibility to ensure that your exam is successfully submitted and can be read using MS Word. The organization, depth, and clarity of responses will be important grading considerations. The Final examination is an individual assignment; not a group assignment. Once you upload your completed exam to your Assignments Folder, do not make any revisions. The exam is scaled to 100 points. Instructions: 1. Insert your name here: __________________ 2. Final responses must be consolidated into one Word document. 3. Essay responses are to be single-spaced. MULTIPLE CHOICE SECTION (20 points total). Highlight the best response. 1. Kanban systems can best be described as: a. b. c. d. e. Planning tools Pricing methods Negotiating strategies Information technology components Control mechanisms 2. Which one of the following is NOT an example of a strategic purchasing measurement indicator? a. b. c. d. e. Average time spent in negotiations with suppliers Supplier lead-time Supplier development costs and benefits Proportion of suppliers participating in early product design Savings achieved from part standardization efforts 3. Negotiation _____ refers to the overall approach used to reach a mutually beneficial agreement with a supplier that holds different points of view from the buyer. a. b. c. d. e. tactics positioning strategy boulwarism pricing 4. When a Purchasing professional purchases an item from an unauthorized source it is referred to as: a. Strategic positioning b. c. d. e. Tactical procurement Spend justification Maverick spending Revenue pricing 5. _____ essentially determines the nature of agreements that are enforceable and create legal rights between the parties. a. b. c. d. e. Agency law Contract law Civil law Litigation Municipal law 6. _______ is that level of authority perceived by the seller to be available to the purchasing manager. a. b. c. d. e. Actual authority Apparent authority Consideration Personal liability Transparent authority 7. Freight shipped _____ means the supplier retains title to the goods and controls the shipment until it is physically received and off-loaded at the consignee's dock. a. b. c. d. e. FOB carrier FOB origin FOB destination FOB in transit None of the above 8. Motor carriers are characterized by _____ variable costs, while rail carriers have comparatively _____ fixed costs. a. b. c. d. e. higher....high lower....high higher....low lower....low There is no difference in variable and fixed costing between motor and rail carriers. 9. _____ is the continuous measuring of products, services, processes, activities, and practices against a firm's best competitors or those companies recognized as industry or functional leaders. a. b. c. d. e. TCO TQM Effectiveness Benchmarking Efficiency 10. All of the following are examples of the future focus on supply chain performance except _______. a. accelerating and obtaining more innovation from suppliers b. focusing more and more on day-to-day tactical purchasing activities c. leveraging supplier capabilities and know-how to establish new sources of revenue d. identifying and mitigating supply risks of any kind to ensure business continuity e. expanding the breadth and depth of cost management efforts ESSAYS (80 points total). Answer A, B, C, and D. Substantial responses are required to earn full credit. Responses should include original, analytical thought as well as support from our text and other professional sources (properly cited). You should consider the essays as opportunities to demonstrate your knowledge of the concepts we are covering in PCMS 626. Each essay is worth 20 points. A. Discuss the implications of information technology for the Purchasing/Supply Management function. How has IT most helped Purchasing and Supply Management professionals carry out their responsibilities? Are there aspects of IT application that can present problems for them? Nowadays using technology or net only does majority of the activities. Either purchases or sales or getting any service is through online only. Even there are some techniques that show based on the inputs how and when a project can be complete. the techniques like PERT in project management and CAD & CAM in product manufacturing and quality checking all are using in manufacturing sector. Through IT or online services people are completing their task in a faster way and they are able to perform more activities than earlier days. No, if the person knows how can we use technology in a best manner, they will get maximum benefits and the drawbacks will be very less. B. Discuss the advantages and disadvantages of long-term contracts. Do you think the advantages outweigh the disadvantages, or vice-versa? Why, and under what circumstances? The Advantages of long- term contracts are as follows: Contractor has the chances of improvement with the economies of scale in the long-term contracts Bidders invest more on the different equipment, which results in the profits A clear solution would be obtained with the longer duration Planning would be easier Purchase order expenses would be saved The Disadvantages of long- term contracts are as follows: More investment would be required to get updated with the latest technologies Additional stress would be laid on country council Definitely, the advantages outweigh the disadvantages during the long term contract as the price would be the same as predicted, lot of capital could be invested for the advanced technologies which help reach the target in time. C. Why must procurement professionals be knowledgeable about procurement law? Provide examples (actual or hypothetical) to support your case. The following are the reasons why procurement professional should be knowledgeable regarding procurement law: Law will help the professionals to know environmental responsibility in purchasing Integrity in the decision-making and action Helps to know ethics and conflicts of interest Procurement laws \\Viii guide the professionals about the issues of influence Helps to determine the responsibilities of the employer Customer and supplier relationships can be known Sustainability and social responsibility Professional competence As an example, procurement law explains, by purchasing green, it is a social responsible that have gained momentum thorough the state and the country. Local government s and school districts should offer for preference for recycled products. It is essential to realize that decision to purchase recycle goods or energy efficient product will save money and society. D. What three recent trends (i.e., past 20 years) do you think are the most important for the field of purchasing/supply management? Please explain. The three recent trend s in the supply chain management are as follows: Increasing number of environmental friendly customers are expecting the products to be produced or sourced according to the environmental standards With the increase in logistics industry, the exports are expected from all over the world through various modes of transport E-commerce purchases have increased the sourcing locations with which the supply chains are becoming more complex. SAVE YOUR EXAM WITH A FILE NAME DIFFERENT THAN THE ORIGINAL TURN IT IN TO YOUR ASSIGNMENT FOLDER ASCM 626 FINAL EXAMINATION All exams must be posted in your Assignment Folders as one document. If problems exist uploading to the assignment section of the course, you can e-mail your exam to ry1nik1@gmail.com. It is your responsibility to ensure that your exam is successfully submitted and can be read using MS Word. The organization, depth, and clarity of responses will be important grading considerations. The Final examination is an individual assignment; not a group assignment. Once you upload your completed exam to your Assignments Folder, do not make any revisions. The exam is scaled to 100 points. MULTIPLE CHOICE SECTION (20 points total). Highlight the best response. 1. Kanban systems can best be described as: a. b. c. d. e. Planning tools Pricing methods Negotiating strategies Information technology components Control mechanisms 2. Which one of the following is NOT an example of a strategic purchasing measurement indicator? a. b. c. d. e. Average time spent in negotiations with suppliers Supplier lead-time Supplier development costs and benefits Proportion of suppliers participating in early product design Savings achieved from part standardization efforts 3. Negotiation _____ refers to the overall approach used to reach a mutually beneficial agreement with a supplier that holds different points of view from the buyer. a. b. c. d. e. tactics positioning strategy boulwarism pricing 4. When a Purchasing professional purchases an item from an unauthorized source it is referred to as: a. b. c. d. Strategic positioning Tactical procurement Spend justification Maverick spending e. Revenue pricing 5. _____ essentially determines the nature of agreements that are enforceable and create legal rights between the parties. a. b. c. d. e. Agency law Contract law Civil law Litigation Municipal law 6. _______ is that level of authority perceived by the seller to be available to the purchasing manager. a. b. c. d. e. Actual authority Apparent authority Consideration Personal liability Transparent authority 7. Freight shipped _____ means the supplier retains title to the goods and controls the shipment until it is physically received and off-loaded at the consignee's dock. a. b. c. d. e. FOB carrier FOB origin FOB destination FOB in transit None of the above 8. Motor carriers are characterized by _____ variable costs, while rail carriers have comparatively _____ fixed costs. a. b. c. d. e. higher....high lower....high higher....low lower....low There is no difference in variable and fixed costing between motor and rail carriers. 9. _____ is the continuous measuring of products, services, processes, activities, and practices against a firm's best competitors or those companies recognized as industry or functional leaders. a. TCO b. TQM c. Effectiveness d. Benchmarking e. Efficiency 10. All of the following are examples of the future focus on supply chain performance except _______. a. accelerating and obtaining more innovation from suppliers b. focusing more and more on day-to-day tactical purchasing activities c. leveraging supplier capabilities and know-how to establish new sources of revenue d. identifying and mitigating supply risks of any kind to ensure business continuity e. expanding the breadth and depth of cost management efforts ESSAYS (80 points total). Answer A, B, C, and D. Substantial responses are required to earn full credit. Responses should include original, analytical thought as well as support from our text and other professional sources (properly cited). You should consider the essays as opportunities to demonstrate your knowledge of the concepts we are covering in PCMS 626. Each essay is worth 20 points. A. Discuss the implications of information technology for the Purchasing/Supply Management function. How has IT most helped Purchasing and Supply Management professionals carry out their responsibilities? Are there aspects of IT application that can present problems for them? Nowadays using technology or net only does majority of the activities. Either purchases or sales or getting any service is through online only. Even there are some techniques that show based on the inputs how and when a project can be complete. the techniques like PERT in project management and CAD & CAM in product manufacturing and quality checking all are using in manufacturing sector. Through IT or online services people are completing their task in a faster way and they are able to perform more activities than earlier days. No, if the person knows how can we use technology in a best manner, they will get maximum benefits and the drawbacks will be very less. B. Discuss the advantages and disadvantages of long-term contracts. Do you think the advantages outweigh the disadvantages, or vice-versa? Why, and under what circumstances? The Advantages of long- term contracts are as follows: Contractor has the chances of improvement with the economies of scale in the long-term contracts Bidders invest more on the different equipment, which results in the profits A clear solution would be obtained with the longer duration Planning would be easier Purchase order expenses would be saved The Disadvantages of long- term contracts are as follows: More investment would be required to get updated with the latest technologies Additional stress would be laid on country council Definitely, the advantages outweigh the disadvantages during the long term contract as the price would be the same as predicted, lot of capital could be invested for the advanced technologies which help reach the target in time. C. Why must procurement professionals be knowledgeable about procurement law? Provide examples (actual or hypothetical) to support your case. The following are the reasons why procurement professional should be knowledgeable regarding procurement law: Law will help the professionals to know environmental responsibility in purchasing Integrity in the decision-making and action Helps to know ethics and conflicts of interest Procurement laws \\Viii guide the professionals about the issues of influence Helps to determine the responsibilities of the employer Customer and supplier relationships can be known Sustainability and social responsibility Professional competence As an example, procurement law explains, by purchasing green, it is a social responsible that have gained momentum thorough the state and the country. Local government s and school districts should offer for preference for recycled products. It is essential to realize that decision to purchase recycle goods or energy efficient product will save money and society. D. What three recent trends (i.e., past 20 years) do you think are the most important for the field of purchasing/supply management? Please explain. The three recent trend s in the supply chain management are as follows: Increasing number of environmental friendly customers are expecting the products to be produced or sourced according to the environmental standards With the increase in logistics industry, the exports are expected from all over the world through various modes of transport E-commerce purchases have increased the sourcing locations with which the supply chains are becoming more complex. SAVE YOUR EXAM WITH A FILE NAME DIFFERENT THAN THE ORIGINAL TURN IT IN TO YOUR ASSIGNMENT FOLDER ASCM 626 FINAL EXAMINATION All exams must be posted in your Assignment Folders as one document. If problems exist uploading to the assignment section of the course, you can e-mail your exam to ry1nik1@gmail.com. It is your responsibility to ensure that your exam is successfully submitted and can be read using MS Word. The organization, depth, and clarity of responses will be important grading considerations. The Final examination is an individual assignment; not a group assignment. Once you upload your completed exam to your Assignments Folder, do not make any revisions. The exam is scaled to 100 points. MULTIPLE CHOICE SECTION (20 points total). Highlight the best response. 1. Kanban systems can best be described as: a. b. c. d. e. Planning tools Pricing methods Negotiating strategies Information technology components Control mechanisms 2. Which one of the following is NOT an example of a strategic purchasing measurement indicator? a. b. c. d. e. Average time spent in negotiations with suppliers Supplier lead-time Supplier development costs and benefits Proportion of suppliers participating in early product design Savings achieved from part standardization efforts 3. Negotiation _____ refers to the overall approach used to reach a mutually beneficial agreement with a supplier that holds different points of view from the buyer. a. b. c. d. e. tactics positioning strategy boulwarism pricing 4. When a Purchasing professional purchases an item from an unauthorized source it is referred to as: a. b. c. d. Strategic positioning Tactical procurement Spend justification Maverick spending e. Revenue pricing 5. _____ essentially determines the nature of agreements that are enforceable and create legal rights between the parties. a. b. c. d. e. Agency law Contract law Civil law Litigation Municipal law 6. _______ is that level of authority perceived by the seller to be available to the purchasing manager. a. b. c. d. e. Actual authority Apparent authority Consideration Personal liability Transparent authority 7. Freight shipped _____ means the supplier retains title to the goods and controls the shipment until it is physically received and off-loaded at the consignee's dock. a. b. c. d. e. FOB carrier FOB origin FOB destination FOB in transit None of the above 8. Motor carriers are characterized by _____ variable costs, while rail carriers have comparatively _____ fixed costs. a. b. c. d. e. higher....high lower....high higher....low lower....low There is no difference in variable and fixed costing between motor and rail carriers. 9. _____ is the continuous measuring of products, services, processes, activities, and practices against a firm's best competitors or those companies recognized as industry or functional leaders. a. TCO b. TQM c. Effectiveness d. Benchmarking e. Efficiency 10. All of the following are examples of the future focus on supply chain performance except _______. a. accelerating and obtaining more innovation from suppliers b. focusing more and more on day-to-day tactical purchasing activities c. leveraging supplier capabilities and know-how to establish new sources of revenue d. identifying and mitigating supply risks of any kind to ensure business continuity e. expanding the breadth and depth of cost management efforts ESSAYS (80 points total). Answer A, B, C, and D. Substantial responses are required to earn full credit. Responses should include original, analytical thought as well as support from our text and other professional sources (properly cited). You should consider the essays as opportunities to demonstrate your knowledge of the concepts we are covering in PCMS 626. Each essay is worth 20 points. A. Discuss the implications of information technology for the Purchasing/Supply Management function. How has IT most helped Purchasing and Supply Management professionals carry out their responsibilities? Are there aspects of IT application that can present problems for them? Nowadays using technology or net only does majority of the activities. Either purchases or sales or getting any service is through online only. Even there are some techniques that show based on the inputs how and when a project can be complete. the techniques like PERT in project management and CAD & CAM in product manufacturing and quality checking all are using in manufacturing sector. Through IT or online services people are completing their task in a faster way and they are able to perform more activities than earlier days. No, if the person knows how can we use technology in a best manner, they will get maximum benefits and the drawbacks will be very less. B. Discuss the advantages and disadvantages of long-term contracts. Do you think the advantages outweigh the disadvantages, or vice-versa? Why, and under what circumstances? The Advantages of long- term contracts are as follows: Contractor has the chances of improvement with the economies of scale in the long-term contracts Bidders invest more on the different equipment, which results in the profits A clear solution would be obtained with the longer duration Planning would be easier Purchase order expenses would be saved The Disadvantages of long- term contracts are as follows: More investment would be required to get updated with the latest technologies Additional stress would be laid on country council Definitely, the advantages outweigh the disadvantages during the long term contract as the price would be the same as predicted, lot of capital could be invested for the advanced technologies which help reach the target in time. C. Why must procurement professionals be knowledgeable about procurement law? Provide examples (actual or hypothetical) to support your case. The following are the reasons why procurement professional should be knowledgeable regarding procurement law: Law will help the professionals to know environmental responsibility in purchasing Integrity in the decision-making and action Helps to know ethics and conflicts of interest Procurement laws \\Viii guide the professionals about the issues of influence Helps to determine the responsibilities of the employer Customer and supplier relationships can be known Sustainability and social responsibility Professional competence As an example, procurement law explains, by purchasing green, it is a social responsible that have gained momentum thorough the state and the country. Local government s and school districts should offer for preference for recycled products. It is essential to realize that decision to purchase recycle goods or energy efficient product will save money and society. D. What three recent trends (i.e., past 20 years) do you think are the most important for the field of purchasing/supply management? Please explain. The three recent trend s in the supply chain management are as follows: Increasing number of environmental friendly customers are expecting the products to be produced or sourced according to the environmental standards With the increase in logistics industry, the exports are expected from all over the world through various modes of transport E-commerce purchases have increased the sourcing locations with which the supply chains are becoming more complex. SAVE YOUR EXAM WITH A FILE NAME DIFFERENT THAN THE ORIGINAL TURN IT IN TO YOUR ASSIGNMENT FOLDER