BUS 230 Week 11 Quiz – Strayer
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Quiz Chapter 16 and 17
Other Supply Responsibilities
113.
Investment recovery is often assigned to:
a. supply managers because they have
knowledge supply markets and price trends.
b. salespeople because they have contact
with buyers who may use the material.
c. marketing managers because they have
information on internal users.
d. engineers who can suggest possible uses
of the material within the organization.
e. financial analysts because they set the
target return on all investments.
114.
Efforts to deal with hazardous waste include a focus on:
a. highly visible sources of pollution,
e.g. smoke stacks.
b. less visible uncontrolled sites, e.g.
buried waste.
c. recycling.
d. substitution of non-hazardous materials
for hazardous materials.
e. all of the above.
115. The
potential benefits of having accounts payable report to the same executive as
supply include:
a. familiarity with the supplier
b. familiarity with the order.
c. opportunities to reduce transaction
costs and headcount.
d. the ability for supply to ensure that payments
for suppliers are made on time.
e. all of the above.
116.
Reducing the obsolescence and waste of maintenance, repair, and operating (MRO)
supplies through better materials and inventory management will:
a. reduce the costs of disposing of MRO items
that are obsolete or waste.
b. reduce carrying cost by lowering
inventory levels, especially of obsolete items.
c. improve environmental performance by
reducing waste that goes into landfills or incinerators.
d. simultaneously reduce costs and improve
environmental performance.
e. have little impact because MRO is a
small percentage of annual spend and the items usually have low environmental
low-impact.
117.
Warehousing and inventory storage:
a. can either be an internal function or
outsourced to a third-party logistics firm.
b. typically has little communication with
supply management.
c. may have direct responsibility for
organizational purchasing decisions.
d. outsourcing decisions typically are
made by the finance department.
e. is seldom outsourced.
118. One
of the reasons why companies are paying more attention to the effective,
efficient, and profitable recovery and disposal of scrap, surplus, obsolete,
and waste materials is that:
a. consumers overwhelmingly demand
environmental responsibility.
b. it is easy to administer and highly
profitable.
c. most organizations generate little
scrap, surplus, obsolete and waste materials.
d. disposal costs are rising and
environmental legislation is strengthening.
e. disposal is a fairly simple problem
that is easily resolved.
119. The
role and importance of investment recovery in an organization is driven in
large part by the:
a. CEO’s perspective on environmental
issues.
b. Chief Purchasing Officer’s clout or
leverage with other executives.
c. projected dollar value of the potential
revenue recovery or cost reduction.
d. salespeople who encourage the inclusion
of buy-back programs of key materials.
e. internal level of knowledge about
disposal channels and suppliers.
120.
Coordinating inbound and outbound transportation:
a. has little application in an effective
and efficient supply organization.
b. is done by cross-functional teams in
most organizations.
c. helps to reduce costs and improve
utilization of related assets and resources.
d. provides the basic elements of a global
supply network.
e. is used extensively in Europe, but has
not migrated to the U.S.
121.
Production planning:
a. focuses on long-term schedules to
control inventory and production.
b. requires coordinating the delivery and
storage of key raw materials.
c. cannot involve supply because of fears
of undue influence from suppliers.
d. relies heavily on forecasts from
purchasing and supply management.
e. is a discrete activity with little
coordination with other functions.
122.
Supply can contribute to the organization’s environmental management program
by:
a. developing sourcing and usage
alternatives for hazardous materials.
b. focusing on substitution of
non-hazardous materials for hazardous materials.
c. encouraging and participating in
designing products that do not use or generate hazardous waste.
d. a and b.
e. a, b and c.
True and False
1.
Production planning relies heavily on forecasts from operations to anticipate
demand for products and services..
2. To
ensure maximum return for its investment, the process and procedures for
selling scrap and surplus must cover a broad range of activities including
segregation and storage, weighing and measuring, delivery, negotiation,
supplier selection, and payment.
3. If
material has been declared surplus, the only option is to sell it.
4.
Obsolete is in the eyes of the beholder. Something that has been declared
obsolete in one organization may be perfectly acceptable and useable in
another.
5. It
makes no sense to assign responsibility for disposal to the supply management
function because the personnel usually have no selling experience.
6. The
total cost of hazardous waste for a company does not include the costs of new
plant and equipment to reduce waste and deal with contaminated plants.
7.
Escalator clauses in contracts for scrap disposal are necessary because the
prices of primary metals fluctuate.
8. An
organization’s Enterprise Resource Planning (ERP) system may be used to develop
a national or global database for company personnel at different locations to
post and purchase spare parts, obsolete materials, and surplus.
9. Waste
is created when a change in the production process occurs, or when a better
material is substituted for the material originally used.
10. As
more people come to believe that it makes economic sense to practice
environmentally sound operations, business and government may be able to work
together for common goals.
CHAPTER 17
SUPPLY FUNCTION EVALUATION AND
TRENDS
123.
Research on the supply management process focuses on:
a. developing a strategy to reduce cost or
ensure supply.
b. improving buyer-seller relationships.
c. deciding whether to single or multiple
source.
d. conducting cost analysis to identify
unnecessary costs.
e. increasing efficiency by automating
where possible.
124.
Purchasing performance benchmarking attempts to:
a. analyze a firm's own internal trends.
b. provide industrywide standards for
overall firm performance.
c. determine what results have been
achieved by purchasing and supply activities.
d. determine how an organization achieves
results in purchasing and supply.
e. provide baseline metrics to compare
companies’ supply performance.
125. The
budget which begins with an estimate of expected operations, based on sales
forecasts and plans, is called the:
a. operating budget.
b. capital budget.
c. cash flow budget.
d. materials purchase budget.
e. organizational budget.
126.
When cross-functional teams are used to conduct research, it is best if:
a. the team has strong leadership.
b. the team has total autonomy to decide
objectives and set expectations.
c. team members are randomly selected from
departments.
d. performance evaluation and reward
systems foster individual contributions.
e. each
team member develops time management skills to handle the
assignment.
127. In
terms of measuring and validating supply savings:
1. information systems easily capture savings.
2. static markets, technologies, and
volumes facilitate the process.
3. in many cases there is an inability to
convert savings into profit.
4. management usually recognizes
cumulative savings.
5. there is a universal definition of
supply savings.
128.
Supply can play a leadership role in corporate social responsibility (CSR) by:
1. instituting third party workplace
audits of suppliers in developing countries.
2. knowing the providence of products in
the supply chain.
3. considering the organization’s carbon
footprint in supply decisions.
4. designing closed loop supply chains.
5. all of the above.
129. The
assessment of a supplier’s financial capacity:
1. enables the development of risk
minimization strategies.
2. predicts the probability of the supplier
encountering financial problems.
3. is done primarily to ensure the
supplier has the cash to pay its bills.
4. usually is unnecessary if the supplier
has been in business for more than 5 years.
5. is required before a contract can be
ratified.
130. A
comprehensive commodity study should result in a(n):
a. thorough analysis of sources used over
time.
b. strategy to lower cost and assure
supply.
c. review of past predictions and
variances from actual prices paid.
d. assessment of the performance of the
commodity manager.
e. trend analysis of volume requirements
over time.
131.
Trends in supply organization and leadership include:
a. more chief purchasing officers with
extensive supply experience.
b. less emphasis on teams.
c. global projects requiring
cross-cultural skills.
d. merging of strategic and tactical roles
in supply.
e. emphasis on “hard skills” such as
finance.
132. An
efficiency-oriented performance metric:
a. evaluates the quality of supplier
relationships.
b. measures end customer satisfaction.
c. measures direct contributions to
profit.
d. calculates the average dollar cost of a
purchase order.
e. measures number of defects caused by
poor incoming quality.
True and False
1. The
perceptions that non-supply managers have of supply are shaped by interactions
with and observations of supply, tangible experiences with supply on a
day-to-day basis, and the extent to which supply is seen as contributing to the
firm's mission.
2. Value
engineering is done on purchased items used in the ongoing production process,
while value analysis is done in the design stage where items are being
specified.
3.Triple
bottom line reporting refers to an organization’s social, environmental, and
financial performance.
4.
Effectiveness metrics which emphasize price may lead to behavior that drives up
total cost of ownership.
5. The
supply planning process is initiated by the supply manager’s assessment of the
supply base.
6.
Industry benchmarking allows an individual company to compare itself to its
major competitor.
7.
Financial efficiency is indicated by the asset and inventory turnover ratios.
8.
Supplier performance management systems should be designed to capture and
communicate the failures of suppliers so penalties can be assessed.
9.
Supply management’s contribution may be measured along three dimensions:
revenue enhancement, asset management, and cost management.
10.
Internal validation of supply’s financial contribution increases joint
ownership of goals and outcomes.
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