Question 1

Which of the following statements is true of vendor analysis?

Accepted Answer

Vendor analysis is a formal rating of suppliers in all relevant areas of performance.Analysis might show that the best vendor is the one that helps the customer reduce costs of excess inventory,retooling of equipment,or defective parts.

Question 2

In his last order,the bakery manager at Bread of the Earth Bakery purchased a different brand of whole wheat flour from his regular supplier,Best Bakery Supplies.This is an example of a

Accepted Answer

The bakery manager bought a different brand of wheat flour but from the regular supplier,so this is an example of a modified rebuy.Modified rebuy is the in-between process in which some review of the buying situation is done,though not as much as in new-task buying.

Question 3

A report on a seller's website that describes how an organizational buyer can make a better decision on a particular topic is called a(n)

Accepted Answer

White papers are reports designed to help buyers make decisions about a particular topic.

Question 4

Which of the following impersonal sources enable purchasing managers to easily search for potential new suppliers?

Accepted Answer

Most purchasing managers start with an Internet search when they need to identify new suppliers,better ways to meet needs,or information to improve decisions.Buyers often rely on highly specialized search engines,which is also why many marketing managers will pay search engines for a sponsored link (an ad)that appears when certain keywords are included in a search.

Question 5

Vendor analysis

Accepted Answer

In trying to deal with complexities arising while making purchase decisions many firms use vendor analysis-a formal rating of suppliers on all relevant areas of performance.

Question 6

Whitewater Corp.is looking for a new vendor for basic plastics because the present vendor has been inconsistent about meeting delivery schedules.Which of the following buying processes is the firm's purchasing agent most likely to use?

Accepted Answer

Whitewater Corp.already has the purchase specifications and only needs to look for a new supplier of basic plastics.The firm's purchasing agent is most likely to use modified rebuying.

Question 7

Charles Wood,purchasing manager for a company that makes golf carts,posted the purchase specifications for the seats on a new golf cart model his firm is building.Four suppliers submitted ________ that included the terms of sale each had to offer.

Accepted Answer

Four suppliers submitted competitive bids that included the terms of sale each had to offer.Competitive bids are the terms of sale offered by different suppliers in response to the purchase specifications posted by the buyer.

Question 8

A report on a seller's website that describes how one of its customers solved a specific problem by using the seller's products is called a(n)

Accepted Answer

Buyers like to read case studies-reports on a seller's website that describe how other companies solved a specific problem by using the seller's products.

Question 9

Purchasing managers rely on Internet ________ to quickly identify new suppliers.

Accepted Answer

Most purchasing managers start with an Internet search when they need to identify new suppliers.

Question 10

A formal rating of suppliers in all relevant areas of performance is best referred to as

Accepted Answer

A formal rating of suppliers in all relevant areas of performance is best referred to as vendor analysis.

Question 11

Vendor analysis

Accepted Answer

In trying to deal with complexities arising while making purchase decisions many firms use vendor analysis-a formal rating of suppliers on all relevant areas of performance.The purpose isn't just to get a low price from the supplier but also to lower the total costs associated with purchases.

Question 12

A modified rebuy would be most likely when

Accepted Answer

A modified rebuy would be most likely when a car producer is developing a sportier car that will require wider tires.In this case,the purchase specifications would require some review and modifications.

Question 13

After conducting a vendor analysis on potential suppliers,purchasing managers are likely to choose the vendor that

Accepted Answer

The purpose of vendor analysis isn't just to get a low price from the supplier on a given part or service.Rather,the goal is to lower the total costs associated with purchases as may be achieved through greater efficiencies.For example,analysis might show that the best vendor is the one that helps the customer reduce costs of excess inventory,retooling of equipment,or defective parts.

Question 14

Which of the following statements about adding sustainability to a vendor analysis is accurate?

Accepted Answer

Attention to sustainability in a vendor analysis is more than just the "right thing to do"; it can identify unexpected savings.

Question 15

A modified rebuy is most likely to occur for

Accepted Answer

A modified rebuy is most likely to occur for the purchase of a desk.The purchase specifications may require some review and modification.

Question 16

Vendor analysis

Accepted Answer

The purpose of vendor analysis isn't just to get a low price from the supplier on a given part or service.Rather,the goal is to lower the total costs associated with purchases.

Question 17

________ are the terms of sale offered by different suppliers in response to the purchase specifications posted by the buyer.

Accepted Answer

Competitive bids are the terms of sale offered by different suppliers in response to the purchase specifications posted by the buyer.

Question 18

The goal of vendor analysis is

Accepted Answer

The goal of vendor analysis is to lower the total costs associated with purchases.

Question 19

Vendor analysis is a(n)

Accepted Answer

Vendor analysis is a formal rating of suppliers on all relevant areas of performance.

Question 20

A company creates a rating form for its suppliers and rates their on-time delivery,product quality,service advice,and so forth in order to determine which suppliers to put on an approved list of suppliers for specific products.This process is called a(n)

Accepted Answer

A formal rating of suppliers on all relevant areas of performance like on-time delivery,product quality,service advice,and so forth is called vendor analysis.

Quiz 6: Business and Organizational Customers and Their Buying Behavior

Which of the following statements is true of vendor analysis?

In his last order,the bakery manager at Bread of the Earth Bakery purchased a different brand of whole wheat flour from his regular supplier,Best Bakery Supplies.This is an example of a

A report on a seller's website that describes how an organizational buyer can make a better decision on a particular topic is called a(n)

Which of the following impersonal sources enable purchasing managers to easily search for potential new suppliers?

Vendor analysis

Whitewater Corp.is looking for a new vendor for basic plastics because the present vendor has been inconsistent about meeting delivery schedules.Which of the following buying processes is the firm's purchasing agent most likely to use?

Charles Wood,purchasing manager for a company that makes golf carts,posted the purchase specifications for the seats on a new golf cart model his firm is building.Four suppliers submitted ________ that included the terms of sale each had to offer.

A report on a seller's website that describes how one of its customers solved a specific problem by using the seller's products is called a(n)

Purchasing managers rely on Internet ________ to quickly identify new suppliers.

A formal rating of suppliers in all relevant areas of performance is best referred to as

Vendor analysis

A modified rebuy would be most likely when

After conducting a vendor analysis on potential suppliers,purchasing managers are likely to choose the vendor that

Which of the following statements about adding sustainability to a vendor analysis is accurate?

A modified rebuy is most likely to occur for

Vendor analysis

________ are the terms of sale offered by different suppliers in response to the purchase specifications posted by the buyer.

The goal of vendor analysis is

Vendor analysis is a(n)

A company creates a rating form for its suppliers and rates their on-time delivery,product quality,service advice,and so forth in order to determine which suppliers to put on an approved list of suppliers for specific products.This process is called a(n)