SCMN 3730 Exam 1 Latest Update -

SCMN 3730 Exam 1 Latest Update - Actual Exam with Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor

-developing closer relationships with important suppliers -performing due diligence on suppliers before awarding longer term contracts -conducting worldwide internet searches for the best sources of supply -inviting key suppliers to participate in product and process development. - CORRECT

ANSWER: What are the features of the new model of progressive purchasing?

-Include minority suppliers in all RFQs without exception -Set forth management's commitment on this subject.-Evaluate the performance potential of small and disadvantaged suppliers to identify those qualifying for supplier assistance.-invite small and disadvantaged suppliers to bid on purchase contracts.-Establish a minimum percentage of business to award to qualified small and dis- advantaged suppliers.-Outline a training program to educate buyers regarding the needs of the small and

disadvantaged suppliers. - CORRECT ANSWER: What are some steps that a policy in

support of minority suppliers might include?

-User selects different supplier than supply management has approved -May be acceptable when there is small chance of risk -Loss of opportunity to control cost and/or leverage purchase volume

-Exposes firm to greater risk - CORRECT ANSWER: What is meant by maverick

spending?

1.Sourcing, negotiation, and contract management 2.Market intelligence and research 1 / 2

3.Operational support and follow-up

4.Administration and data management - CORRECT ANSWER: The scope of the

Purchasing/Supply Management job function includes what 4 major areas?

A change index report on business A score of 50 means the market is neither expanding nor contracting - CORRECT ANSWER: What index does ISM issue monthly, and what does a score of 50 represent?

A company does not operate in isolation because its success is dependent upon a

network of partner relationships - CORRECT ANSWER: What is meant by extended

enterprise?

A preferred supplier has demonstrated its performance capabilities through previous purchase contracts and therefore receives preference during the supplier selection

process. - CORRECT ANSWER: What does it take to become a preferred supplier?

Accepting bribes or kickbacks Cronyism Accepting late bids Owning a stake in supplier's company Other behavior not considered part of the "normal" course of doing business -

CORRECT ANSWER: What are some examples of irregular business dealings?

Access to insider knowledge Intimate knowledge of policies and procedures

Relationships with buyer's personnel - CORRECT ANSWER: What could be wrong with

former employees representing suppliers?

Any criteria for competitive bidding are missing Purchase requires agreement on wide range of performance factors other than price Buyer requires early supplier involvement

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