SCMN 2150 Test 2 Practice Guide 2026
Quiz
1. supply management The identification, acquisition, access, positioning, manage-
ment of resources and related capabilities the organization
needs or potentially needs in the attainment of its strategic
objectives
2. strategic sourcing an institutional procurement process that continuously im-
proves and re-evaluates the purchasing activities of a com-
pany
3. procurement the purchase of merchandise or services at the optimum
possible total cost in the correct amount and quality
4. At the right price 6 specifics of buying products and services for procurement
From the right source
At the right specification
In the right quantity
For delivery at the right time
To the right internal customer
5. buy products and services the 'what' of the focus of procurement
6. Understand business require- the 'how' of the focus of procurement
ments
Streamline purchasing process-
es
Identify better sources of supply
7. 1. Monitor KPIs and take correc- 2 reasons why it is important to evaluate suppliers
tive action, to ensure value is
provided by suppliers
2. Create visibility into process
and performance across the en-
1/8
, SCMN 2150 Test 2 Practice Guide 2026
Quiz
tire supply management life cy-
cle
8. key performance indicator KPI
9. quality, cost, service, value what needs to be measured?
added extras
10. meets specs aspects of quality
11. cost competitive aspects of cost
12. fill rate, timeliness, exceptions aspects of service
13. perfect purchase order percent Order arrives on time, without defects, and with perfect
documentation at the right location with correct quantities
of all SKUs ordered
14. production the process by which inputs are combined, transformed, and
turned into outputs. May involve products and/or services
15. manufacturing to transform materials via assembly, fabrication, conversion
processes into a finished product, especially by means of a
large-scale industrial operation
16. input a resource used in the creation of output
17. transformation the operation or action that takes place
18. output what is created by transforming the inputs
19. goods and services output examples
20. input examples
2/8
Quiz
1. supply management The identification, acquisition, access, positioning, manage-
ment of resources and related capabilities the organization
needs or potentially needs in the attainment of its strategic
objectives
2. strategic sourcing an institutional procurement process that continuously im-
proves and re-evaluates the purchasing activities of a com-
pany
3. procurement the purchase of merchandise or services at the optimum
possible total cost in the correct amount and quality
4. At the right price 6 specifics of buying products and services for procurement
From the right source
At the right specification
In the right quantity
For delivery at the right time
To the right internal customer
5. buy products and services the 'what' of the focus of procurement
6. Understand business require- the 'how' of the focus of procurement
ments
Streamline purchasing process-
es
Identify better sources of supply
7. 1. Monitor KPIs and take correc- 2 reasons why it is important to evaluate suppliers
tive action, to ensure value is
provided by suppliers
2. Create visibility into process
and performance across the en-
1/8
, SCMN 2150 Test 2 Practice Guide 2026
Quiz
tire supply management life cy-
cle
8. key performance indicator KPI
9. quality, cost, service, value what needs to be measured?
added extras
10. meets specs aspects of quality
11. cost competitive aspects of cost
12. fill rate, timeliness, exceptions aspects of service
13. perfect purchase order percent Order arrives on time, without defects, and with perfect
documentation at the right location with correct quantities
of all SKUs ordered
14. production the process by which inputs are combined, transformed, and
turned into outputs. May involve products and/or services
15. manufacturing to transform materials via assembly, fabrication, conversion
processes into a finished product, especially by means of a
large-scale industrial operation
16. input a resource used in the creation of output
17. transformation the operation or action that takes place
18. output what is created by transforming the inputs
19. goods and services output examples
20. input examples
2/8
