IB 439 FINAL EXAM QUESTIONS AND
ANSWERS 100% CORRECT
These current business characteristics have increased the need for better management
of the suppliers who provide goods and service to the organization EXCEPT - answer
reduced risk
The ISM defines Supply Management at the identification, acquisition, access,
positioning, management of _______ and related ______ the organization needs or
potentially needs in the attainment of its _______ objectives. - answer resources,
capabilities, strategic
which of the following statements is a reason to purchase a product from an external
supplier? - answer insufficient capacity
which of the following statements is a reason to manufacture a product in house? -
answer better control of costs
development and management of supplier relationships to acquire goods and services
in a way that aids in achieving the immediate needs of the business - answer strategic
sourcing
there are 3 primary procurement strategies, these strategies are listed below EXCEPT -
answer low cost supplier prioritization (correct ones are supplier integration, value
management, volume consolidation)
the ____________ analysis extends the breakeven analysis. It does not only consider
purchase cost. It also considers qualitative factors and other quantitative factors. -
answer total cost of ownership
materials with HIGH supply risk and HIGH profit impact are categorized as - answer
strategic items
many alternative products and services, many sources of supply, low value, small
individual transactions and everyday use - answer non critical items
Trent & Monczka article presents the characteristics of outstanding global sourcing
initiatives. These characteristics are listed below EXCEPT - answer informal and non
structured approaches to communication
in terms of importance of warehousing to overall operations, indicate which one of the
following statements answers the question: why do companies primarily hold
inventories - answer to achieve transportation economies
by looking at the graph below, identify which one of the following options correctly
, describes the relationship between cost components and the number of warehouses -
answer 1. facility cost 2. inventory cost 3. transportation cost
indicate which of the following factors DOES NOT affect the decision regarding
warehousing size - answer type of transportation mode used
as customer service levels increase, requirements for warehousing space - answer
increase
as inventory turns increase, requirements for warehousing space - answer decrease
__________________ is an operational strategy where product is received in a facility,
generally combined with other products going to the same destination and then shipped
at the earliest opportunity without going into long term storage - answer cross docking
warehousing has different functions in typical logistics systems, the picture below is an
example of - answer break bulk
warehousing has different functions in typical logistics systems. one service benefit is
_______, typically used to support customer accommodation. under this concept, select
inventory is positioned in a local market in anticipation of responding to customer need
during high sales period - answer spot stocking
warehouse operations provide three important functions. indicate from the list below
which one IS NOT one of these functions - answer promotion and advertising
the effective use of a warehouse if influenced by - answer all of the alternatives are
correct
challenges for the transportation industry include these statements except - answer
excess capacity
identify which transportation mode is the best in each of the following categories:
speed, availability, dependability, capability, frequency - answer air, truck, pipeline,
water, pipeline
in 2019, most of the freight shipments within the US were performed by - answer truck
indicate which of the following statements best describes the primary reason for
performing intermodal shipments - answer because intermodal movements combine the
cost and service advantages of two or more modes balancing trade offs
all of the following are important when determining product freight costs EXCEPT -
answer product aesthetics
ANSWERS 100% CORRECT
These current business characteristics have increased the need for better management
of the suppliers who provide goods and service to the organization EXCEPT - answer
reduced risk
The ISM defines Supply Management at the identification, acquisition, access,
positioning, management of _______ and related ______ the organization needs or
potentially needs in the attainment of its _______ objectives. - answer resources,
capabilities, strategic
which of the following statements is a reason to purchase a product from an external
supplier? - answer insufficient capacity
which of the following statements is a reason to manufacture a product in house? -
answer better control of costs
development and management of supplier relationships to acquire goods and services
in a way that aids in achieving the immediate needs of the business - answer strategic
sourcing
there are 3 primary procurement strategies, these strategies are listed below EXCEPT -
answer low cost supplier prioritization (correct ones are supplier integration, value
management, volume consolidation)
the ____________ analysis extends the breakeven analysis. It does not only consider
purchase cost. It also considers qualitative factors and other quantitative factors. -
answer total cost of ownership
materials with HIGH supply risk and HIGH profit impact are categorized as - answer
strategic items
many alternative products and services, many sources of supply, low value, small
individual transactions and everyday use - answer non critical items
Trent & Monczka article presents the characteristics of outstanding global sourcing
initiatives. These characteristics are listed below EXCEPT - answer informal and non
structured approaches to communication
in terms of importance of warehousing to overall operations, indicate which one of the
following statements answers the question: why do companies primarily hold
inventories - answer to achieve transportation economies
by looking at the graph below, identify which one of the following options correctly
, describes the relationship between cost components and the number of warehouses -
answer 1. facility cost 2. inventory cost 3. transportation cost
indicate which of the following factors DOES NOT affect the decision regarding
warehousing size - answer type of transportation mode used
as customer service levels increase, requirements for warehousing space - answer
increase
as inventory turns increase, requirements for warehousing space - answer decrease
__________________ is an operational strategy where product is received in a facility,
generally combined with other products going to the same destination and then shipped
at the earliest opportunity without going into long term storage - answer cross docking
warehousing has different functions in typical logistics systems, the picture below is an
example of - answer break bulk
warehousing has different functions in typical logistics systems. one service benefit is
_______, typically used to support customer accommodation. under this concept, select
inventory is positioned in a local market in anticipation of responding to customer need
during high sales period - answer spot stocking
warehouse operations provide three important functions. indicate from the list below
which one IS NOT one of these functions - answer promotion and advertising
the effective use of a warehouse if influenced by - answer all of the alternatives are
correct
challenges for the transportation industry include these statements except - answer
excess capacity
identify which transportation mode is the best in each of the following categories:
speed, availability, dependability, capability, frequency - answer air, truck, pipeline,
water, pipeline
in 2019, most of the freight shipments within the US were performed by - answer truck
indicate which of the following statements best describes the primary reason for
performing intermodal shipments - answer because intermodal movements combine the
cost and service advantages of two or more modes balancing trade offs
all of the following are important when determining product freight costs EXCEPT -
answer product aesthetics
