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BUAD 331- Module 7 (Knowledge Check & Module Exam) Latest Update - Exam Questions and 100% Verified Correct Answers Guaranteed A+
A dollar saved in material costs goes directly to an increase in revenue for the organization.
TRUE or FALSE - CORRECT ANSWER: FALSE
An item with high market complexity and low importance to the organization should be
classified as:
A.) Non-critical B.) Leverage C.) Strategic D.) Bottleneck
E.) None of the above - CORRECT ANSWER: D.) Bottleneck
As a category specialist, you need to develop expertise on which of the following?
A.)Price B.) Data Retrieval C.) Puzzles D.) Availability
E.) A and D only - CORRECT ANSWER: E.) A and D only
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Both objective and subjective measures are used to measure the performance of suppliers. Which of the following is NOT true regarding objective and subjective measures?
A.) Objective (Hard) Measures are quantitative B.) Subject (Soft) Measures are based on preference or judgement C.) An example of subjective measure is supplier on-time delivery D.) Subjective measures can be biased and dependent on the user
E.) All of the above are true - CORRECT ANSWER: C.) An example of subjective
measure is supplier on-time delivery
How can purchasing add value to an organization?
A.) By ensuring an uninterrupted flow of materials or services B.) By reducing the total cost of products C.) By collaborating with other areas such as logistics on supplier location decisions D.) By increasing revenue through supplier innovation and new product launch E.) All of the above (and MORE) are ways that purchasing can contribute to
organizational success. - CORRECT ANSWER: E.) All of the above (and MORE) are
ways that purchasing can contribute to organizational success.
On Kralic's matrix the quadrant of "bottleneck" is the most challenging for purchasing managers to deal with? In fact it is recommended that you think of ways to shift these items to other quadrants of the matrix. What is one purchasing tactic that might allow you to do that?
A.) Reverse auction B.) Use P-cards and on-line catalogs C.) Set up a long term contract D.) Buying consortium, group together multiple buyers
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