OPS330T Strategic Operations and Logistics Weekly Apply

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Submission #2:

Submission Score:95 / 100 (95.00%)
Grade Time:May 06 at 19:46
Submitted On:May 06 at 19:46
  1. One reason that those employed in purchasing need to understand processes is ________.
    • To recreate the purchasing process
    • To understand the manufacturing process (if applicable)
    • To circumvent frustrating processes
    • All of the above
    FEEDBACK5 / 5  (100.0%)
  2. During the “analyze” stage of strategic sourcing g, you do which of the following?
    • Identify potential suppliers
    • Select the source
    • Finalize contract
    • Develop a deep understanding of what you are buying
    FEEDBACK5 / 5  (100.0%)
  3. During the “source” stage of strategic sourcing g, you do which of the following?
    • Finalize contract
    • Identify potential suppliers
    • Buy at the list price
    • Select the source
    FEEDBACK5 / 5  (100.0%)
  4. Which of the following is one of the seven rights of purchasing?
    • Getting the right price
    • Getting the right customer
    • Getting material from the right supplier
    • Getting the right logistics company
    FEEDBACK5 / 5  (100.0%)
  5. During the “procure” stage of strategic sourcing g, you do which of the following?
    • Select the source
    • Identify potential suppliers
    • Develop a deep understanding of what you are buying
    • Finalize contract
    FEEDBACK5 / 5  (100.0%)
  6. ________ represent costs that will remain even after we stop a particular process or activity.
    • Cash-to-cash cycle
    • Back orders
    • Balanced scorecard
    • Fixed costs
    FEEDBACK5 / 5  (100.0%)
  7. Reasons for supplier development include which of the following?
    • Calculate activities based on a series of known activities and create a source of supply when the item you want is not readily available
    • 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
    FEEDBACK5 / 5  (100.0%)
  8. Market complexity is relevant to strategic sourcing for which reasons?
    • It refers to the lowest level of division for a process
    • It is one step in the strategic sourcing process
    • It is a planning tool to diagram a sequence of events or activities
    • It concerns risks in the marketplace and it asks you to look at the competitive landscape of the supply market
    FEEDBACK5 / 5  (100.0%)
  9. What are the four types of buy (i.e., segments) that are described by the purchasing portfolio matrix?
    • Easy, hard, simple, complex
    • Routine, leverage, bottleneck, strategic
    • Smart, leverage, special, valuable
    • Generic, leverage, special, constant
    FEEDBACK5 / 5  (100.0%)
  10. Multi-criteria analysis is an intuitive tool that helps you select the right supplier. One of the strengths of multi-criteria analysis is that it enables you to “________” qualitative decisions.
    • Multiply
    • Exploit
    • Divide
    • Quantify
    FEEDBACK5 / 5  (100.0%)
  11. Single sourcing is a strategy used by some organizations.  Which of the following is not a benefit of single sourcing?
    • Synergies between multiple suppliers benefit the buyer
    • Only need to synchronize processes with one supplier
    • Volume consolidation
    • Supplier brings you innovative products
    FEEDBACK5 / 5  (100.0%)
  12. Deciding how important each criterion is is which of the following steps in Multi-criteria analysis?
    • Define scoring system
    • Evaluate options
    • Decide on criteria
    • Set weights
    FEEDBACK5 / 5  (100.0%)
  13. As a purchasing professional, what is your role in the p-card process?
    • Provide the funding stream for a wide variety of program logistics
    • Select p-card issuer and negotiate the agreement
    • Work with IT to design and easy-to-use web interface
    • Management and control of activities
    FEEDBACK5 / 5  (100.0%)
  14. Purchasing professionals need to ________ and  ________ in order to find the right supplier.
    • Lower market share; write contracts
    • Get the lowest price; monitor delays
    • Overpromise; underperform
    • Ask tough questions; do their homework
    FEEDBACK5 / 5  (100.0%)
  15. The formal process of asking “What if…?” questions in a decision-making process is called what?
    • Cost variance
    • Decomposition
    • Sensitivity analysis
    • Expediting
    FEEDBACK5 / 5  (100.0%)
  16. If a supplier perceives you as a customer as a development, what should your strategy be for bottleneck buys?
    • Identify compatibilities and build those together
    • Manage risks proactively and consider supplier development opportunities
    • Seek cost saving projects
    • Manage risk and look for a new supplier that values you more
    FEEDBACK5 / 5  (100.0%)
  17. As a purchasing professional, when you don’t stay ahead of the ­­­­­­________, you and your company will become irrelevant.
    • Changing market
    • Technology game
    • Supplier contract
    • Competitor’s core competence
    FEEDBACK5 / 5  (100.0%)
  18. Which of the following is the “Monitoring” step in the supplier selection process?
    • Make sure the supplier is performing to promise
    • Define key selection criteria, compare costs and capabilities, visit suppliers and establish an approved list
    • Know who all your suppliers are
    • Pick the “best” supplier and get contract signed
    FEEDBACK5 / 5  (100.0%)
  19. Single sourcing is a strategy used by some organizations.  Which of the following is a benefit of single sourcing?
    • Competition ensures price and service
    • Lower freight costs on consolidated orders
    • Risk mitigation
    • Synergies between multiple suppliers benefit the buyer
    FEEDBACK0 / 5  (0.0%)
  20. What are some of the consequences of choosing the wrong supplier?
    • Production delays and higher costs
    • Enhance firm’s competitiveness and higher costs
    • Lost profits, production delays, and lower market share
    • Lower market share and enhance firm’s competitiveness
    FEEDBACK5 / 5  (100.0%)