Question 1

Notification that a PO has been prepared and sent to the vendor is sent to the original requester, to ______________________________, and to ______________________________.

Accepted Answer

The answer of Notification that a PO has been prepared...

Question 2

Which of the following is a potential problem with supply chain management initiatives?

Accepted Answer

All of the options listed can be potential problems with supply chain management initiatives. Confused lines of responsibility can lead to miscommunication and delays in decision-making. Inaccurate data within the supply chain can result in poor decision-making and ineffective supply chain strategies. Over-reliance on demand forecasting can lead to overstocking or understocking of inventory, causing inefficiencies and lost revenue. Therefore, supply chain management initiatives must address all these potential issues to ensure successful supply chain performance.

Question 3

______________________________ management is the combination of processes and procedures used to ensure the delivery of goods and services to customers at the lowest cost while providing the highest value to the customer.

Accepted Answer

The answer of ______________________________ management is the combination of processes...

Question 4

When data on the inventory record indicate a need to replenish the stock, the inventory system prepares a(n) ______________________________.

Accepted Answer

The answer of When data on the inventory record indicate...

Question 5

The connections from the suppliers of merchandise and raw materials through to an organization's customers, including the flow of information, materials, and services, are its ______________________________.

Accepted Answer

The answer of The connections from the suppliers of merchandise...

Question 6

The ______________________________ supervisor is responsible for receiving incoming goods, signing the bill of lading presented by the carrier, reporting the receipt of goods, and making prompt transfer of goods to the appropriate warehouse or department.

Accepted Answer

The answer of The ______________________________ supervisor is responsible for receiving...

Question 7

Which type of supply chain collaboration methods includes the vendor replenishing standard merchandise while the buyer manages the replenishment of promotion merchandise?

Accepted Answer

Co-Managed Inventory involves a partnership where the vendor is responsible for replenishing standard items, while the buyer handles the replenishment of promotional or more unpredictable items, blending control between both parties.

Question 8

The purchase requisition is sent from the inventory control department to the ______________________________ department.

Accepted Answer

The answer of The purchase requisition is sent from the...

Question 9

Which type of supply chain collaboration methods includes the vendor obtaining the buyer's current sales, demand, and inventory data in real time and replenishing the buyer's inventory?

Accepted Answer

Continuous Replenishment (CRP) or Vendor Managed Inventory (VMI) involves the vendor obtaining the buyer's current sales, demand, and inventory data in real time and replenishing the buyer's inventory. Collaborative Forecasting and Replenishment (CFAR) and Collaborative Planning, Forecasting and Replenishment (CPFR) involve more collaborative planning and forecasting between the buyer and vendor.

Question 10

Which of the following is not a potential benefit of supply chain management?

Accepted Answer

Supply chain management is aimed at optimizing the production process to reduce costs and increase efficiency. A, B and D are all potential benefits of SCM, as it can lead to lower costs for customers, reduced inventories, and fewer product defects. However, SCM is not expected to reduce customer orders as this may indicate a decrease in demand for the product.

Question 11

A retailer could misread a demand signal doubling its normal order and the wholesaler could respond and also double its order resulting in four times the retail order. This is an example of the ______________________________ effect.

Accepted Answer

The answer of A retailer could misread a demand signal...

Question 12

With ______________________________ a vendor obtains a buyer's current sales, demand, and inventory data in real time and replenishes the buyer's inventory.

Accepted Answer

The answer of With ______________________________ a vendor obtains a buyer's...

Question 13

As used in the purchasing process chapter, the term ______________________________ refers to raw materials, merchandise, supplies, fixed assets, or intangible assets.

Accepted Answer

The answer of As used in the purchasing process chapter,...

Question 14

In many organizations ______________________________ do the actual buying.

Accepted Answer

The answer of In many organizations ______________________________ do the actual...

Question 15

The ______________________________ manager usually performs major buying activities as well as the required administrative duties of running a department.

Accepted Answer

The answer of The ______________________________ manager usually performs major buying...

Question 16

Supply chain execution software:

Accepted Answer

The answer of Supply chain execution software:
...

Question 17

Goal ______________________________ exists when individual managers' goals are in agreement with overall organizational objectives.

Accepted Answer

The answer of Goal ______________________________ exists when individual managers' goals...

Question 18

Which type of supply chain collaboration methods includes collaborative processes across the supply chain using a set of processes and technology models?

Accepted Answer

Collaborative Planning, Forecasting and Replenishment (CPFR) includes multi-level, multi-company collaboration and utilizes a set of processes and technology models to improve supply chain efficiency and effectiveness. Continuous Replenishment (CRP) or Vendor Managed Inventory (VMI) and Co-Managed Inventory may involve collaboration between a supplier and a customer, but do not necessarily include the use of technology models or multi-level collaboration. Collaborative Forecasting and Replenishment (CFAR) is a similar concept to CPFR but is an older term and is less widely used in industry.

Question 19

______________________________ features collaborative processes across the supply chain using a set of processes and technology models.

Accepted Answer

The answer of ______________________________ features collaborative processes across the supply...

Question 20

Which of the following is not included in the SCOR model as one of the five basic components of supply chain management?

Accepted Answer

The correct five components of the SCOR model are: Plan, Source, Make, Deliver and Return. Therefore, "Receive" is not included in the SCOR model as one of the five basic components of supply chain management.

Quiz 12: The Purchasing Process

Notification that a PO has been prepared and sent to the vendor is sent to the original requester, to , and to .