Question 1

Define and discuss the basic types of e-commerce business models used in procurement and sourcing.

Accepted Answer

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Question 2

What supplier selection criteria are described by attitude, cultural compatibility, training aids, packaging, and repair service?
A) Sustainability
B) Financial considerations
C) Reliability
D) Desirable qualities

Accepted Answer

The described supplier selection criteria focus on desirable qualities. Attitude, cultural compatibility, training aids, packaging, and repair service are all factors that contribute to a supplier's overall quality and suitability for a particular business. These criteria are not directly related to financial considerations, reliability, or sustainability, although these may be considered alongside other factors when selecting a supplier.

Question 3

There are three definitions to aid understanding of some of the similarities, differences, and linkages between purchasing, procurement, and strategic sourcing. Define them, and discuss the differences between the three.

Accepted Answer

The answer of There are three definitions to aid understanding...

Question 4

There are seven steps in the Strategic Sourcing Process. Name at least five, and choose two to discuss in more detail.

Accepted Answer

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Question 5

In the Implement Sourcing Strategy step, the most important thing is to:
A) agree on supplier selection criteria.
B) choose a supplier or suppliers, depending on the objectives of the sourcing decision.
C) verify which suppliers are either TQM or ISO 9000.
D) finalize understandings and agreements with new suppliers.

Accepted Answer

The most important thing in this step is to choose a supplier or suppliers, depending on the objectives of the sourcing decision. While agreeing on supplier selection criteria, verifying TQM or ISO 9000 certification, and finalizing understandings and agreements with new suppliers are important steps, they cannot be completed without first choosing a supplier(s).

Question 6

Name several criteria that are important in supplier selection. Which one is the most important?

Accepted Answer

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Question 7

Bonanza is a website that enables sellers to hold auctions for their items or products. Bonanza is an example of a(n):
A) sell-side system.
B) business-to-business sales system.
C) online trading community.
D) online marketplace.

Accepted Answer

The answer of Bonanza is a website that enables sellers...

Question 8

To help guide the strategic sourcing process, five core principles are recognized as key drivers to achieve the desired levels of value. Which of the following is not one of those core principles?
A) Access the total value
B) Develop individual sourcing strategies
C) Evaluate internal requirements
D) Drive continuous savings

Accepted Answer

"Drive continuous savings" is not one of the core principles of strategic sourcing. The focus is on assessing total value, developing strategies, and evaluating requirements rather than solely on savings.

Question 9

What supplier selection criteria are described by price and financial stability?
A) Capability
B) Financial
C) Quality
D) Reliability

Accepted Answer

Price and financial stability fall under the financial criteria, which is best described by choice B. Capability, quality, and reliability are other criteria that may be considered when selecting a supplier.

Question 10

Zahira, the CEO of a regional chain of bread bakeries, wants to ensure healthy relationships with all of her firm's suppliers, which is why she routinely invites account executives and other members of her suppliers' teams to visit the bakeries, sample the products, and understand as much as they can about her business. This is Zahira's way of:
A) developing close relationships.
B) communicating effectively.
C) using business reviews.
D) strategic planning in conjunction with suppliers.

Accepted Answer

Zahira's routine invitations to her suppliers' teams to visit her bakeries and sample the products is a way of developing close relationships with them. By doing so, she is able to foster trust and open communication with her suppliers and understand their needs better, which can ultimately result in mutually beneficial partnerships.

Question 11

A type of e-commerce site where product or service information is provided by multiple third parties, such as Amazon or Expedia, is called a(n):
A) online marketplace.
B) B2C system.
C) sell-side system.
D) on-line trading community.

Accepted Answer

An online marketplace is a type of e-commerce site where multiple third parties provide product or service information. Examples include Amazon, eBay, and Etsy. These sites enable consumers to compare products from different sellers and make purchases directly through the platform.

Question 12

The concept that represents the sum of all costs associated with making and delivering products to the point where they are needed is called:
A) purchase/acquisition cost.
B) strategic sourcing costs.
C) life cycle costs.
D) total landed cost.

Accepted Answer

Total landed cost represents the sum of all costs associated with making and delivering products to the point where they are needed, including purchase/acquisition cost, strategic sourcing costs, and life cycle costs.

Question 13

Summarize the advantages and potential drawbacks of e-procurement. If you were responsible for procuring supplies for a firm, how would you guard against the concerns?

Accepted Answer

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Question 14

What are at least three types of certifications and registrations? What do they signify, and why are they important?

Accepted Answer

The answer of What are at least three types of...

Question 15

What supplier selection criteria are described by production capability, labor relations, and operating controls?
A) Capability
B) Quality
C) Reliability
D) Financial

Accepted Answer

Production capability, labor relations, and operating controls are all factors that fall under the category of "capability" in terms of supplier selection criteria. The other options (quality, reliability, financial) do not directly relate to these specific factors.

Question 16

There are four types of products and services that are purchased with varying degrees of importance. Name all four, and choose two to discuss in terms of risk and value.

Accepted Answer

The answer of There are four types of products and...

Quiz 5: Sourcing Materials and Services

Define and discuss the basic types of e-commerce business models used in procurement and sourcing.

What supplier selection criteria are described by attitude, cultural compatibility, training aids, packaging, and repair service?

There are three definitions to aid understanding of some of the similarities, differences, and linkages between purchasing, procurement, and strategic sourcing. Define them, and discuss the differences between the three.

There are seven steps in the Strategic Sourcing Process. Name at least five, and choose two to discuss in more detail.

In the Implement Sourcing Strategy step, the most important thing is to:

Name several criteria that are important in supplier selection. Which one is the most important?

Bonanza is a website that enables sellers to hold auctions for their items or products. Bonanza is an example of a(n) :

To help guide the strategic sourcing process, five core principles are recognized as key drivers to achieve the desired levels of value. Which of the following is not one of those core principles?

What supplier selection criteria are described by price and financial stability?

A type of e-commerce site where product or service information is provided by multiple third parties, such as Amazon or Expedia, is called a(n) :

The concept that represents the sum of all costs associated with making and delivering products to the point where they are needed is called:

Summarize the advantages and potential drawbacks of e-procurement. If you were responsible for procuring supplies for a firm, how would you guard against the concerns?

What are at least three types of certifications and registrations? What do they signify, and why are they important?

What supplier selection criteria are described by production capability, labor relations, and operating controls?

There are four types of products and services that are purchased with varying degrees of importance. Name all four, and choose two to discuss in terms of risk and value.