- Study guides, Class notes & Summaries

1. Which of the following best describes the primary objective of purchasing? A. Maintain vendor satisfaction B. Reduce inventory levels C. Acquire goods and services at the right quantity, quality, time, and price D. Improve production processes Correct Answer: C Purchasing focuses on obtaining needed goods/services under optimal conditions. 2. A purchase requisition is usually prepared by: A. Accounts payable B. The requesting department C. The supplier D. Purchasin...

1. Which of the following best describes the primary objective of strategic sourcing? A) Minimizing purchase order volume B) Maximizing supplier competition C) Aligning purchasing activities with organizational goals D) Reducing the number of suppliers Rationale: Strategic sourcing focuses on aligning procurement with the organization’s overall objectives to optimize value, not just cost. 2. What is the main difference between a Request for Proposal (RFP) and a Request for Qu...

302 PURCHASE TAPE/CROSS-DECK PENDANT (CDP) CHECKER Exam Questions and Answers How many feet is the CDP? - 190 FT What is the center of the CDP? - Poly Cord What is the diameter of the CDP? - 1 1/4 in. What does kinking mean with the CDP? - When the CDP has been bent and will not return straight.

PURCHASE/SALES AGREEMENTS EXAM QUESTIONS WITH 100% CORRECT ANSWERS A salesperson newly licensed in this state, takes a listing on real property. Who does the listing belong to? A. The salesperson only. B. The salesperson and the broker. C. The broker only. D. Neither, until a sale is made. - ANSWER C. The broker only. All listings are considered to be contracts between the seller and the broker. The salesperson is only a representative of the broker. The listing employs the brok...

Industry performance benchmarks typically provide: - ANSWERSindustry reference points for an individual company to compare itself to Target costing starts with the: - ANSWERSprice of a final product or service Research dollars will most likely be allocated to the: - ANSWERSproduct or service with the highest current or projected dollar value a comprehensive commodity study should result in a : - ANSWERSstrategy to lower cost and assure supply research on the supply management process...

Purchasing Final UPDATED Exam Questions and CORRECT Answers Safety Level - CORRECT ANSWER- What refers to the minimum number of purchase units that must always remain in inventory in case of late deliveries or unexpected increases in product usage rates? It has value for the operation that is worth the price - CORRECT ANSWER- Why can a service feature from a vendor justify a higher price from a purchaser? No, perishable products are purchased more often than nonperishable - CORRECT ...

Purchasing Final Exam Questions and Answers 2023 with complete solution

Purchasing Final Exam Questions and Answers 2023 with complete solution