Strategic Sourcing and Procurement
Pre-Test Questions
Course Introduction
Strategic Sourcing and Procurement explores the essential concepts, processes, and tools involved in the acquisition of goods and services in modern organizations. The course delves into the development and management of sourcing strategies, supplier evaluation and relationship management, contract negotiation, risk assessment, and cost analysis. Emphasizing the alignment of procurement strategies with organizational goals, students will analyze global sourcing trends, ethical considerations, and the impact of technology on procurement functions. Through case studies and practical applications, the course prepares students to make informed decisions that optimize value, foster innovation, and contribute to competitive advantage in supply chain management.
Recommended Textbook
Operations and Supply Chain Management for MBAs 6th Edition by Jack R. Meredith
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10 Chapters
435 Verified Questions
435 Flashcards
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Chapter 1: Operations and Supply Chain Strategy for Competitiveness
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59 Verified Questions
59 Flashcards
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Sample Questions
Q1) What type of activities make up supply chain management?
Answer: Purchasing or procurement,shipping,and distribution.
Q2) What is the relationship between responsiveness and cost?
Answer: Faster response to a customer also can,up to a point,reduce the unit costs of the product or service,sometimes significantly.
Q3) Which business strategy waits for the product to become fairly standardized and is demanded in large volumes?
A)First-to-market
B)Cost minimization or late-to-market
C)Second-to-market
D)Market Segmentation
Answer: B
Q4) What is the difference between pure and applied research?
Answer: Pure research is simply working with basic technology to develop new knowledge.Applied research is attempting to develop new knowledge along particular lines.
Q5) Give an example of a company or product that uses adaptive customizers.
Answer: Fast food hamburgers,or products similar to things like a closet organizer that can be fit to each customers specifications.
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Chapter 2: Executing Strategy: Project Management
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48 Verified Questions
48 Flashcards
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Sample Questions
Q1) Three phenomena that tend to bias the expected completion time of projects are inflated time estimates,activity time variability with path interdependencies,and resource dependence.
A)True
B)False
Answer: True
Q2) Many projects require different emphases during their life cycle.For example,technical performance may be crucial at the beginning,cost overruns in the middle,and on-time completion at the end.Given the project of running a political campaign,what would be there top three emphases starting from the beginning to end? Answer: Answers will vary.One possible answer is as follows.There is a lot of work that has to come into play when running a political campaign.However,the top three emphases on doing this project would be obtaining the funds to run a successful campaign at the beginning.In the middle of the project is when the technology comes into play- creating ads and commercials,creating websites,etc.Lastly,to run a successful political campaign,the candidate,after having the funds and ads,must schedule meetings with the press and any political debates necessary.
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Page 4
Chapter 3: Process Planning
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55 Flashcards
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Sample Questions
Q1) Paced lines use some sort of conveyor to move output along the production line at a variable rate,so that operators do their work as they need.
A)True
B)False
Answer: False
Q2) In designing a process system,what are three key things that may indicate that the project form is appropriate?
Answer: First,the rate of change in the organization's output.The project offers short reaction times to environmental or internal changes and would thus be called for.Secondly,if the tasks are for a limited duration only,the project form is indicated.And last but certainly not least,if the project form is chosen when the output is of a very large scale with multiple,interdependent activities requiring close coordination.
Q3) According to the service matrix developed by Schmenner,services with low contact intensity and customization attain profitability through high prices rather than high volumes.
A)True
B)False
Answer: False
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Chapter 4: Capacity and Scheduling
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40 Flashcards
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Sample Questions
Q1) In the allocation of capacity,overbooking is an attempt to reduce costs through better schedule management.
A)True
B)False
Q2) The most important factor(s)effecting the learning curve rate include(s):
A)Complexity of the task
B)Percentage of mechanical input
C)Percentage of human input
D)Only A and C
Q3) Give an example of yield/revenue management and tell how it is important to businesses.
Q4) The __________ plan is a preliminary,approximate schedule of an organization's overall operations that will satisfy the demand forecast at minimum cost.
A)Production
B)Rough-cut capacity
C)Long-term
D)Efficiency
E)Aggregate
Q5) How does scheduling services differ from other business's scheduling methods?
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Chapter 5: Supply Chain Planning and Analytics
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Sample Questions
Q1) Our objective in exponential forecasting is to choose the value of alpha that results in the best forecasts.
A)True
B)False
Q2) Briefly describe the three stages of CPFR.
Q3) Why is the issue of outliers important in simple regression?
Q4) A time series is simply a set of values of some variable measured either at regular points in time or over sequential intervals of time.
A)True
B)False
Q5) In aggregate planning,when the same amount of output is produced each period,it is called what?
A)Flat production
B)Constant production
C)Level production
D)Chase production
E)None of the above
Q6) Briefly discuss the assumptions of regression analysis.
Q7) What are the random variations component of a time series?
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Chapter 6: Supply Chain Management
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49 Flashcards
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Sample Questions
Q1) Water is a good transportation mode for small,high-value,or perishable items.
A)True
B)False
Q2) bullwhip effect occurs more often when the sole transmission of information occurs by handoffs from one link of the chain to the next.
A)True
B)False
Q3) Risk costs include interest on money invested in inventory and in the land,buildings,and equipment necessary to hold and maintain the inventory.
A)True
B)False
Q4) Inventories are usually classified into four forms.What are they?
Q5) "To maintain the appropriate level of inventory,decision rules are needed to answer two basic questions.What are they?"
Q6) There are many purposes for holding inventory,but,in general,inventories have five basic functions.What are they?
Q7) To what does the term supply chain generally refer?
Q8) Name a few benefits of having an efficient Supply chain.
Page 8
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Chapter 7: the Economic Order Quantity Model
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Sample Questions
Q1) Which of the following is not an assumption of the basic EOQ model?
A)Rate of demand is constant
B)Shortages are not allowed
C)Delivery is gradual
D)Lead times are known with certainty
E)Purchase price,ordering cost,and per unit holding cost are independent of quantity ordered
F)Items are ordered independently of each other
Q2) To what type of inventory does the EOQ model apply?
Q3) With the basic EOQ model,we want stock replenishment to arrive exactly when the inventory drops to zero.
A)True
B)False
Q4) At the economic order quantity,what is the relationship between annual holding cost and annual order cost?
A)Annual holding cost is less than annual order cost
B)Annual holding cost equals annual order cost
C)Annual holding cost is greater than annual order cost
D)There is no relationship
E)It depends on annual demand
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Chapter 8: Monitoring and Controlling the Processes
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Sample Questions
Q1) Describe some of the characteristics of a good control system.
Q2) In monitoring quality,it too much data or too little data worse? Defend your answer.
Q3) What is process control?
Q4) Which of the following is not a step in constructing control charts?
A)Initial samples of the process to be monitored need to be taken
B)Means and ranges for the samples must be calculated
C)Deriving the means by the ranges previously calculated
D)Graphing sample means and ranges chronologically
Q5) Benchmarking is a process that helps compare a company against its competitors on a variety of relevant indicators.
A)True
B)False
Q6) Provide a brief history of ISO 9000.
Q7) Describe FMEA and why it is important to process control.
Q8) FMEA stands for:
A)Fail safe Mode and Effectuation Analysis
B)Failure in Massive Effects Analysis
C)Failure Mode in Eviction Analytics
D)Failure Mode and Effect Analysis
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Chapter 9: Process Improvement: Six Sigma
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Sample Questions
Q1) Six Sigma a particularly timely topics in business today because of the following,except:
A)It was developed by Motorola
B)High profile organizations report strong benefits from using it
C)It can be applied in organizations that produce a tangible output or an intangible service
D)Nonprofit organizations may apply it as well as for profit companies
Q2) Which of the following is not an original component of reengineering?
A)A radical change in the way work is performed
B)Process-centered reorganization of activities
C)An emphasis in getting rid of unnecessary employees
D)A dramatic improvement in performance
Q3) What must be done in the measure phase of Six Sigma?
Q4) Lean Sigma is a combination of Six Sigma and lean tools appropriate when both too much variation and waste exist in a process.
A)True
B)False
Q5) Benchmarking is another name for QFD (quality function deployment).
A)True
B)False
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Chapter 10: Process Improvement: Lean
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Sample Questions
Q1) Describe the Japanese culture that lead to the development of lean.
Q2) Pursuing perfection in lean organizations involves which of the following tools?
A)5S,the visual factory and kaizen
B)Six Sigma,Project management and continuous improvement
C)Poka yoke and total productive maintenance
D)Both A and C
Q3) If your processing plant were put under a tight deadline,using the Theory of Constraints,would it be more efficient to use a transfer batch smaller or larger than the current process batch in order to reduce batch flow times? Explain your answer.
Q4) Briefly describe the ten guidelines of the theory of constraints.
Q5) Takt time is calculated as
A)Demand volume divided by customer required volume
B)Customer required volume divided by available work time
C)Available work time divided by customer required volume
D)Available work time divided by demand volume
E)Any of the above can be used
Q6) In traditional approaches to production,preventive maintenance is also common.
A)True
B)False
Page 12
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