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● What is outsourcing / insourcing; what are the reasons to do each? - correct answer o Outsourcing • Outsourcing is the act of moving a company's internal process and activity responsibility to an external provider • Reasons for outsourcing • financial improvement • process improvement • organizational need • Outsourcing considerations • strategic control • coordination • intellectual property o Insourcing o Is the reverse...

What is a BATNA? - correct answer Best Alternative To a Negotiated Agreement; That point whre it is advantageous to walk awat from the negotiation. In a negotiation, what is meant by the terms position, interest, need, and want? - correct answer Position: Negotiators opening offer. Interest: Unspoken motivation or reason that underlies any given position. Need: Negotiated outcome that negotiator must achieve Want: ...

Outsourcing - correct answer operating with independent suppliers outside the organization to provide products or services offshoring - correct answer operating with independent suppliers outside the organization who are located abroad Nearshoring - correct answer Relocating sources to countries geographically closer. Re-shoring - correct answer Bri...

ch8 - correct answer 1. What are the 8 key principles of TQM? - correct answer Define quality in terms of customers, pursue quality at the source, stress objective rather than subjective analysis, emphasize prevention rather than detection defeats, focus on process rather than output, strive for zero defects, establish continuous improvement as a way of life, make quality everyone's responsib...

What situations call for negotiation with suppliers vs. competitive bidding? - correct answer Negotiation is more appropriate when other issues besides price are important or when competitive bidding will not satisfy the buyer's requirements on various issues Best Alternative To a Negotiated Agreement - correct answer Negotiator's bottom line or reservation point Position - correct answer ...

force majeure - correct answer the course of events that occur if there are unforeseen calamities such as earthquakes or hurricanes that prevent a supplier from fulfilling its obligations to the buyer what does a firm fixed price contact entail, & how does a supplier view the acceptability of a long one? - correct answer price stated in the agreement does not change, regardless of any type of environmental change what is...

new progressive purchasing model - correct answer -closer relationships with key suppliers -performing due diligence on suppliers before awarding long-term contracts -conducting worldwide searches for the best sources of supply -inviting key suppliers to participate in product and process development also, executive managers began to require purchasing professionals to achieve demanding performance improvements today's business climate - correct...

What are integrative supply chain strategies and how do they occur? - correct answer when corporate strategic plans are effectively "cascaded" into specific supply management and category goals Companies that are successful in deploying supply chain strategies do so because the strategy development process is integrative. Why does senior management routinely turn to cost reduction (over revenue) to improve a company's financial performance - corr...

What situations call for negotiation with suppliers vs. competitive bidding? - correct answer Negotiation is more appropriate when other issues besides price are important or when competitive bidding will not satisfy the buyer's requirements on various issues What is a BATNA? - correct answer Best Alternative to a Negotiated Agreement The point in the negotiation where it is most advantageous for the negotiator to wal...

The _ matrix helps explain the financial importance of commodities, and helps inform how supply chains should be managed. - correct answer Kraljic Kraljic matrix: high importance, low risk - correct answer leverage, materials (management), exploit Kraljic matrix: high importance, high risk - correct answer strategic, supply (management), balance Kraljic matrix: low importance, low ri...

Price Analysis - correct answer Process of comparing supplier prices against external price benchmarks without knowledge of supplier costs Cost Analysis - correct answer Process of analyzing each individual cost element that add up to final price Total Cost Analysis - correct answer Applies price/cost equation across multiple processes that span two or more organizations across a supply...

what are the features of the new model of progressive purchasing? - correct answer 1. closer relationships with important suppliers 2. performing due diligence on suppliers before awarding long-term contracts 3. conducting worldwide searches for the best sources of supply 4. inviting key suppliers to participate in produce & process development what is meant by direct materials? - correct answer items provided by supplie...

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What is the only medically proven method to remove alcohol or other drug combinations from your system? - correct answer Time If the gates at a railroad crossing are down and red lights are flashing, you should: - correct answer Stop and proceed only when the gates are raised and the lights have stopped flashing. You see a school bus with flashing amber (yellow) lights. What is the bus driver doing? - correct answer ...

Risk Pooling - A group sharing the possibility of a loss. Risk transferred from individual to group. Law of Large Numbers - The principle that the larger the number of individual risks in a group, the more certainty there is as to the amount of loss incurred in any period. This is based on the science of probability and the experience of mortality and morbidity statistics. Speculative Risk - Involves the chance of both loss or gain. Pure Risk - Involves only the chance of loss, no possi...

author's purpose/attitude - correct answer The author's reason for writing/point trying to get across classification - correct answer putting something in a certain order or category determine - correct answer to figure out prefix - correct answer the letters before a word that help determine its meaning (UN-make, BE-fore, ANTI-slavery) str...

What do you need a CDL to operate? - correct answer Any single vehicle with a gross vehicle weight rating of 26,001 pounds or more A combination vehicle with a gross combination weight rating of 26,001 or more pounds, provided the GVWE of the vehicle being towed is in excess of 10,00 pounds A vehicle designed to transport 16 or more passengers (including the driver) How can you lose your CDL fro at least one year? - correct answer ...

Which of the following is not a persistent myth about entrepreneurs? - correct answer Solo entrepreneurs limit their potential for growth. Successful entrepreneurs are not gamblers; they take? - correct answer calculated risks For a successful entrepreneur, seeking and using ___________ is central to the habit of learning from mistakes and setbacks, and of responding to the unexpected. - correct answer ...

1. The mission of the Iowa Board of Pharmacy ("board") is to ___, ___, and ___ the public health, safety, and welfare by fostering the provision of ___ to all Iowans through effective regulation of the following areas: - correct answer -*promote -preserve -protect -pharmaceutical care* 2. The Iowa Board of Pharmacy is comprised of ___ pharmacist members, ___ certified pharmacy technician member, and ___ representatives from the general public. - cor...

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