OSCM 4431 MID-TERM (CH'S 1-2) pt 2 questions
with verified answers
____ forecasts can also signal the need for material Ans✓✓✓Market
_____ firms that rely on standard, easy-to-obtain items often use stock
checks to determine material ordering requirements. I Ans✓✓✓Smaller
_____ must have the legitimate authority to make decisions that fall
within their span of control. Ans✓✓✓purchasing
2 methods for final supplier selection Ans✓✓✓1. competitive bidding
2. negotiating
2 things to keep in mind with P2P: Ans✓✓✓1. the relative effort a
company spends on P2P activities will differ greatly from one situation
to another
2. companies can often gain a competitive advantage by performing
these activities better than their competitors.
3 step: minimum info for purchase requisition Ans✓✓✓1. a detailed
description of the material or service,
2. the quantity,
3. date required, 4. estimated cost, 5. authorization.
3 step: what starts the tracking cycle? Ans✓✓✓Date of requisition
,A buyer must identify suppliers with the required production capability
before requesting ... Ans✓✓✓detailed competitive bids
A contract is typically required if: Ans✓✓✓the size of the purchase
exceeds a predetermined monetary value
or
if there are risks associated with doing business with a supplier where
the potential for conflict and problems is not negotiated prior to the
purchase
A preferred supplier has demonstrated its performance capabilities
through... Ans✓✓✓previous purchase contracts
a projected need could be Ans✓✓✓RM, Subassemblies or finished
good, or service
a RPS signal may be: Ans✓✓✓1. blinking light on a screen,
2. message sent to the materials control department's e-mail address
3. computer report.
A standard purchase requisition or SOW used most often for____ that
are increasingly being transmitted through online requisition systems
Ans✓✓✓routine and non-complex items
,A system that simply requires users to submit to purchasing what they
require for electronic transmission is similar to ... Ans✓✓✓electronic
mail.
A traveling requisition can be helpful because Ans✓✓✓it can conserve
time when reordering routine materials and supplies.
A traveling requisition can be helpful because... Ans✓✓✓it can
conserve time when reordering routine materials and supplies
After a buyer establishes a blanket order with a supplier, the ordering of
an item simply requires... Ans✓✓✓a routine order release
After bids have been received or the negotiation has taken place, the
sourcing team will select a supplier and then move on to...
Ans✓✓✓authorize the purchase through the purchase approval process
After the product or service has been delivered and the supplier paid,
Ans✓✓✓a record of critical events associated with the purchase is
entered into a supplier performance database
Almost all firms establish _______ with their suppliers Ans✓✓✓BPO's
Although some level of maverick spending is always going to occur in
an organization, there are significant risks that can occur when it reaches
... Ans✓✓✓high proportions
, Although the user may suggest a supplier, ____ has final selection
authority Ans✓✓✓purchasing
Although there are a variety of purchase requisition formats, every
requisition should contain the following: Ans✓✓✓•Description of
required material or service
•Quantity and date required
•Estimated unit cost
•Operating account to be charged
•Date of requisition
•Date required
•Authorized signature
An automated reorder point system efficiently identifies_____
Ans✓✓✓purchase requirements
Anticipating requirements can contribute to: Ans✓✓✓faster cycle times
better supplier evaluation/selection
As firms continue to be forced to reduce the time required to develop
new products, stakeholder engagement will .... Ans✓✓✓increasingly be
the means through which organizations identify, and hopefully
anticipate, material requirements in the purchasing process cycle
with verified answers
____ forecasts can also signal the need for material Ans✓✓✓Market
_____ firms that rely on standard, easy-to-obtain items often use stock
checks to determine material ordering requirements. I Ans✓✓✓Smaller
_____ must have the legitimate authority to make decisions that fall
within their span of control. Ans✓✓✓purchasing
2 methods for final supplier selection Ans✓✓✓1. competitive bidding
2. negotiating
2 things to keep in mind with P2P: Ans✓✓✓1. the relative effort a
company spends on P2P activities will differ greatly from one situation
to another
2. companies can often gain a competitive advantage by performing
these activities better than their competitors.
3 step: minimum info for purchase requisition Ans✓✓✓1. a detailed
description of the material or service,
2. the quantity,
3. date required, 4. estimated cost, 5. authorization.
3 step: what starts the tracking cycle? Ans✓✓✓Date of requisition
,A buyer must identify suppliers with the required production capability
before requesting ... Ans✓✓✓detailed competitive bids
A contract is typically required if: Ans✓✓✓the size of the purchase
exceeds a predetermined monetary value
or
if there are risks associated with doing business with a supplier where
the potential for conflict and problems is not negotiated prior to the
purchase
A preferred supplier has demonstrated its performance capabilities
through... Ans✓✓✓previous purchase contracts
a projected need could be Ans✓✓✓RM, Subassemblies or finished
good, or service
a RPS signal may be: Ans✓✓✓1. blinking light on a screen,
2. message sent to the materials control department's e-mail address
3. computer report.
A standard purchase requisition or SOW used most often for____ that
are increasingly being transmitted through online requisition systems
Ans✓✓✓routine and non-complex items
,A system that simply requires users to submit to purchasing what they
require for electronic transmission is similar to ... Ans✓✓✓electronic
mail.
A traveling requisition can be helpful because Ans✓✓✓it can conserve
time when reordering routine materials and supplies.
A traveling requisition can be helpful because... Ans✓✓✓it can
conserve time when reordering routine materials and supplies
After a buyer establishes a blanket order with a supplier, the ordering of
an item simply requires... Ans✓✓✓a routine order release
After bids have been received or the negotiation has taken place, the
sourcing team will select a supplier and then move on to...
Ans✓✓✓authorize the purchase through the purchase approval process
After the product or service has been delivered and the supplier paid,
Ans✓✓✓a record of critical events associated with the purchase is
entered into a supplier performance database
Almost all firms establish _______ with their suppliers Ans✓✓✓BPO's
Although some level of maverick spending is always going to occur in
an organization, there are significant risks that can occur when it reaches
... Ans✓✓✓high proportions
, Although the user may suggest a supplier, ____ has final selection
authority Ans✓✓✓purchasing
Although there are a variety of purchase requisition formats, every
requisition should contain the following: Ans✓✓✓•Description of
required material or service
•Quantity and date required
•Estimated unit cost
•Operating account to be charged
•Date of requisition
•Date required
•Authorized signature
An automated reorder point system efficiently identifies_____
Ans✓✓✓purchase requirements
Anticipating requirements can contribute to: Ans✓✓✓faster cycle times
better supplier evaluation/selection
As firms continue to be forced to reduce the time required to develop
new products, stakeholder engagement will .... Ans✓✓✓increasingly be
the means through which organizations identify, and hopefully
anticipate, material requirements in the purchasing process cycle
