Bookmark question for later

During the procure stage of strategic sourcing g, you do which of the following?

• Develop a deep understanding of what you are buying
• Select the source
• Finalize contract
• Identify potential suppliers

Bookmark question for later

________ represent costs that will remain even after we stop a particular process or activity.

• Fixed costs
• Balanced scorecard
• Back orders
• Cash-to-cash cycle

Bookmark question for later

Reasons for supplier development include which of the following?

• Create a source of supply when the item you want is not readily available and help existing suppliers improve their capabilities in some way
• Help existing suppliers improve their capabilities in some way and gain power
• Gain power and create a source of supply when the item you want is not readily available
• Calculate activities based on a series of known activities and create a source of supply when the item you want is not readily available

Bookmark question for later

During the source stage of strategic sourcing g, you do which of the following?

• Buy at the list price
• Select the source
• Identify potential suppliers
• Finalize contract

Bookmark question for later

During the analyze stage of strategic sourcing g, you do which of the following?

• Finalize contract
• Select the source
• Develop a deep understanding of what you are buying
• Identify potential suppliers

Bookmark question for later

What are the four types of buy (i.e., segments) that are described by the purchasing portfolio matrix?

• Generic, leverage, special, constant
• Smart, leverage, special, valuable
• Routine, leverage, bottleneck, strategic
• Easy, hard, simple, complex

Bookmark question for later

Market complexity is relevant to strategic sourcing for which reasons?

• It is one step in the strategic sourcing process
• It refers to the lowest level of division for a process
• It concerns risks in the marketplace and it asks you to look at the competitive landscape of the supply market
• It is a planning tool to diagram a sequence of events or activities

Bookmark question for later

Which of the following is one of the seven rights of purchasing?

• Getting material from the right supplier
• Getting the right logistics company
• Getting the right customer
• Getting the right price