Sourcing and Procurement Management Exam Bank
Course Introduction
Sourcing and Procurement Management explores the strategic and operational aspects of acquiring goods and services necessary for organizational success. The course examines key concepts such as supplier selection, negotiation, contract management, risk assessment, and ethical considerations in procurement. Students will learn how to develop sourcing strategies, manage supplier relationships, and ensure cost effectiveness and quality through effective procurement processes. Emphasis is placed on global sourcing trends, sustainability, and the use of technology in procurement decision-making, preparing students to address the complex challenges faced by modern supply chains.
Recommended Textbook
Operations and Supply Chain Management The Core 4th Edition by F. Robert Jacobs
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1083 Verified Questions
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Chapter 1: Operations and Supply Chain Management
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71 Verified Questions
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Sample Questions
Q1) The Baldrige National Quality Award was started under the direction of the National Institute of Standards and Technology.
A)True
B)False
Answer: True
Q2) It is critical that a sustainable strategy meet the needs of shareholders and employees.It is also highly desirable that it preserves the environment.
A)True
B)False
Answer: False
Q3) supply chain manager is an OSCM job while a purchasing manager is not.
A)True
B)False
Answer: False
Q4) Service innovations can be patented.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Strategy and Sustainability
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Sample Questions
Q1) Within a sustainability framework,the environmental dimension of the triple bottom line concept has to do with labor,the community,and the region in which a firm conducts its business.
A)True
B)False Answer: False
Q2) One of the competitive dimensions that form the competitive position of a company when planning their strategies is making the best trade-off.
A)True
B)False Answer: False
Q3) The social impact of the triple bottom line concept pertains to fair and beneficial business practices toward labor,the community,and the region in which a firm conducts its business.
A)True
B)False Answer: True
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Page 4
Chapter 3: Forecasting
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Sample Questions
Q1) Which of the following forecasting methodologies is considered a causal forecasting technique?
A)Exponential smoothing
B)Weighted moving average
C)Linear regression
D)Historical analogy
E)Market research
Answer: C
Q2) company has a MAD of 10.Its wants to have a 99.7 percent control limits on its forecasting system.It's most recent tracking signal value is 3.1.What can the company conclude from this information?
A)The forecasting model is operating acceptably
B)The forecasting model is out of control and needs to be corrected
C)The MAD value is incorrect
D)The upper control value is less than 20
E)It is using an inappropriate forecasting methodology
Answer: A
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Page 5
Chapter 4: Strategic Capacity Management
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Sample Questions
Q1) Capacity planning involving consideration of production scheduling and inventory position is characterized by which one of the following time durations?
A)Intermediate-range
B)Long-range
C)Short-range
D)Current
E)Upcoming
Q2) If the actual output of a piece of equipment during an hour is 500 units and its best operating level is at a rate of 400 units per hour,which of the following is the capacity utilization rate?
A)0.75
B)1.00
C)1.25
D)1.33
E)100
Q3) The basic notion of economies of scale is that as a plant gets larger and volume increases,the average cost per unit of output drops.
A)True
B)False
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Page 6
Chapter 4: PART-A: Learning Curves
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Sample Questions
Q1) company can produce a small lot of products the first time at a cost of $10,000.If their 75 percent learning curve allows them to reduce their costs on each lot,what is the total cost of producing 10 lots?
A)$100,000
B)$93,978
C)$65,432
D)$55,890
E)$49,310
Q2) On a learning curve plot,the time per unit is usually displayed on the vertical axis.
A)True
B)False
Q3) An assumption of learning curves is that the time required to complete a unit will decrease at a decreasing rate as the cumulative number of units completed increases.
A)True
B)False
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Chapter 5: Projects Manufacturing and Service Processes
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Sample Questions
Q1) For an activity in a CPM analysis the Early Finish time is 20 and the Late Finish time is 20.Which of the following statements is true?
A)The activity's late start must happen before its early start
B)The activity is on the critical path
C)The slack for this activity is 20
D)The duration of this task is zero
E)The duration of this task is 20
Q2) Project management software available today combines CPM and other scheduling aids,like Gantt charting,to aid in tracking progress of project completion.
A)True
B)False
Q3) One of the assumptions made using CPM is that project activities can be identified with clear beginning and ending points.
A)True
B)False
Q4) An event unit package is a subdivision of a project.
A)True
B)False
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8
Chapter 6: Manufacturing Processes
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Sample Questions
Q1) Which of the following is not considered a major work flow structure?
A)Work Center
B)Project
C)Assembly line
D)Fabrication
E)Continuous Flow
Q2) The product-process matrix shows the relationship between process structures and product volume and variety characteristics.
A)True
B)False
Q3) make-to-order firm will work with the customer to design the product,and then make it from purchased materials,parts,and components.
A)True
B)False
Q4) The essential issue in satisfying customers in the make-to-stock environment is to balance the cost of the finished item against the willingness of the consumer to pay for it.
A)True
B)False
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Chapter 6: PART-A: Break-Even Analysis
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Sample Questions
Q1) Break-Even Analysis can be used to help decide whether to perform a task with a special purpose machine or with a general purpose machine.
A)True
B)False
Q2) Assume a fixed cost for a process of $120,000.The variable cost to produce each unit of product is $35,and the selling price for the finished product is $50.Which of the following is the number of units that has to be produced and sold to break even?
A)5,000 units
B)6,000 units
C)8,000 units
D)11,000 units
E)12,000 units
Q3) Break-Even Analysis can only be used in production equipment decision making when dealing solely with fixed costs,no variable costs.
A)True
B)False
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Chapter 7: Service Processes
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Sample Questions
Q1) Highest-profit customer first is a queue discipline discussed in the textbook.
A)True
B)False
Q2) In the service- system design matrix,a face-to-face loose specs service encounter is expected to have which of the following?
A)Low sales opportunity
B)Low production efficiency
C)High production efficiency
D)Low degree of customer/server contact
E)None of these
Q3) Machine breakdown and repair in a twelve machine factory having one repair mechanic would develop which type of queuing system line structure concerning machine breakdowns?
A)Single channel,single phase
B)Single channel,multiphase
C)Multichannel,single phase
D)Multichannel,multiphase
E)None of these
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11
Chapter 8: Sales and Operations Planning
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Sample Questions
Q1) Subcontracting is viewed as a risky strategy because the firm may lose control of product design and pricing.
A)True
B)False
Q2) The main purpose of aggregate operations planning is to specify the optimal combination of which of the following?
A)Workforce levels and inventory on hand
B)Inventory on hand and financing costs for that inventory
C)The strategic plan and the products available for sale
D)The workforce level and the degree of automation
E)Operational costs and the cash flow to support operations
Q3) Which of the following is not one of the "number of interesting issues that arise in yield management?"
A)Pricing structures must appear logical to the customer and justify different prices
B)Designing yield management programs that cannot be imitated by a competitor
C)How to handle variability in customer arrivals,duration,and interval
D)Managing the service process
E)Training workers and managers to work in a yield management environment
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Chapter 9: Material Requirements Planning
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Sample Questions
Q1) Which of the following industry types have high expected benefits from the application of MRP?
A)Fabricate-to-order
B)Hospitals
C)Assemble-to-order
D)Aircraft manufacturers
E)Oil refineries
Q2) MRP systems seek to achieve which of the following?
A)Minimize lot sizes
B)Determine the number of dependent demand items needed
C)Relieve capacity bottlenecks
D)Provide a yardstick for future improvements
E)Improve on JIT methods
Q3) Which of the following is the net requirement using an MRP program if the gross requirement is 1,250 and the inventory on hand is 50?
A)1,200
B)1,300
C)1,150
D)2,450
E)None of these
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Chapter 10: Quality Management and Six-Sigma Supply
Chain Processes and Analytics
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) The Malcolm Baldrige award selection process helps improve quality and productivity by which of the following means?
A)Stimulating foreign based suppliers of American companies to improve quality
B)Reporting quality levels among American firms
C)Identifying American firms with the most difficult quality problems
D)Providing feedback to applicants by the examiners
E)Helping Baldrige award winners increase their sales
Q2) Looking outside the organization to examine what industry competitors and excellent performers outside of your industry are doing in a particular process is called:
A)Industrial espionage
B)Unethical
C)External benchmarking
D)Hiring an outside expert
E)Reverse engineering
Q3) Philip Crosby states that the correct cost for a well-run quality management program should be under 2.5 percent of sales.
A)True
B)False
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Chapter 11: Inventory Management
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Sample Questions
Q1) Which of the following is not a reason to carry inventory?
A)To provide a safeguard for variation in raw material delivery time
B)To take advantage of economic purchase-order size
C)To maintain independence of operations
D)To meet variation in product demand
E)To keep the stock out of the hands of competitors
Q2) company wants to determine its reorder point (R).Demand is variable and they want to build a safety stock into R.The company wants to have a service probability coverage of 95 percent.If average daily demand is 8,lead time is 3 days,and the standard deviation of usage during lead time is 2,which of the following is the desired value of R?
A)About 17.9
B)About 19.7
C)About 24.0
D)About 27.3
E)About 31.2
Q3) Price-break models deal with the fact that the selling price of an item generally increases as the order size increases.
A)True
B)False
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Page 15
Chapter 12: Lean Supply Chains
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Sample Questions
Q1) Preventive maintenance is emphasized in lean production to ensure that flows are not interrupted by downtime or malfunctioning equipment.
A)True
B)False
Q2) Which of the following is a lean production technique that has been successfully applied in service firms?
A)Decision trees
B)Leveling the facility load
C)Kanban Card Systems
D)Fully utilizing capacity
E)Backflushing
Q3) In a lean production system we expect to see which of the following?
A)No extra inventory
B)Extra inventory of critical parts held "just-in-case"
C)More parts and fewer standardized product configurations
D)Managers being held responsible for quality of the work turned out
E)Closer management-labor relationships
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16
Chapter 13: Global Sourcing and Procurement
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Sample Questions
Q1) The total value of all items held in inventory for the firm valued at cost is which of the following?
A)Cost of goods to be sold
B)Average aggregate inventory value
C)Weeks supply of goods
D)Inventory turnover
E)None of these
Q2) The total cost of ownership (TCO)is an estimate of the cost of an item that includes all the costs related to the procurement and use of an item,but does not include any of the costs related to disposing of the item after it is no longer useful.
A)True
B)False
Q3) If the average aggregate inventory value is $45,000 and the cost of goods sold is $10,000,which of the following is weeks of supply?
A)45,000
B)234
C)120
D)23.4
E)4.5
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Chapter 14: Location, Logistics and Distribution
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Sample Questions
Q1) DHL and United Parcel Service are transportation companies that are prohibited from functioning as a third-party logistics company the way Federal Express does.
A)True
B)False
Q2) Which of the following is not mentioned in the text as a technique for identifying potential sites for plants or other types of facilities?
A)The centroid method
B)Factor-rating systems
C)Linear programming
D)The transportation method of decision analysis
E)Regression analysis
Q3) Because the world is becoming more highly interconnected,the proximity of an important supplier's plants is not crucial in supporting lean production methods.
A)True
B)False
Q4) In a hub-and-spoke system each warehouse in the system acts as a spoke.
A)True
B)False
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