Question 1

Which of the following is one of the external forces affecting purchasing and supply management's role and required contributions to a firm's success?

Accepted Answer

A)  Global, regional competition and emerging market growth.
B)  Mergers, acquisitions, and supply market consolidation.
C)  Technology innovation.
D)  Increased governmental regulation and social responsibilities.
E)  All of these answers.F) D) and E)
G) A) and B)

Question 2

External collaboration will signal a shift from cooperation (and two-way collaboration) to pure competition (and adversarial) for some segments (and purchasing categories) of a company's supply base.

Accepted Answer

A) True 
 B)False

Question 3

The overall purpose of [a] _____ is to maximize value to the buyer and supplier by leveraging both internal company and external supplier resources and capabilities.

Accepted Answer

A)  purchase category strategy
B)  just-in-time manufacturing
C)  kanban
D)  cost reduction
E)  None of these answers.F) A) and C)
G) D) and E)

Question 4

Supply chains are getting longer and more global.

Accepted Answer

A) True 
 B)False

Question 5

The supply base will be viewed not only as tier one suppliers but also as supply networks that extend beyond the tier-one suppliers.

Accepted Answer

A) True 
 B)False

Question 6

Technology and supplier selection discussion during new-product development have minimal effect on cost, quality, and product/service launch, as well as future production.

Accepted Answer

A) True 
 B)False

Question 7

In strategy formulation and selection, supplier networks will decreasingly be viewed as the unit of analysis.

Accepted Answer

A) True 
 B)False

Question 8

Globalization will require that companies develop specific and tailored approaches to identify and hire foreign nationals.

Accepted Answer

A) True 
 B)False

Question 9

Perhaps the most obvious area where firms are concentrating their time-reduction efforts is during new-product and process development along with achieving innovation.

Accepted Answer

A) True 
 B)False

Question 10

Purchasing and supply will be expected to play a growing role in the sustainability efforts of firms, many of which closely involve suppliers.

Accepted Answer

A) True 
 B)False

Question 11

There will be increasing use of value chain mapping, big data, and predictive analytics to better understand industry trends.

Accepted Answer

A) True 
 B)False

Question 12

Outsourcing will likely continue, although firms will be carefully examining and sometimes rebalancing their insourcing or outsourcing and supplier location patterns.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following statements is false regarding category strategy?

Accepted Answer

A)  Companies, in the future, will look beyond cost, quality and delivery as purchase category strategy goals.
B)  Companies will increasingly use value-focused sourcing approaches to evaluate how a supplier or group of suppliers may be utilized to gain competitive advantage for categories with high business impact.
C)  There will be increasing use of value chain mapping, big data, and predictive analytics to better understand industry trends, cost modeling and scenario planning techniques to develop, evaluate, and select from purchase category strategy alternatives.
D)  Establishing core competencies and capabilities has influenced the strategic planning process and category strategy development at most firms.
E)  Groups of suppliers (versus supply networks)  will become an increasing focus of purchase category strategies.F) A) and B)
G) B) and E)

Question 14

Firms, not supply chains or supply networks, compete.

Accepted Answer

A) True 
 B)False

Exam 20: Purchasing and Supply Strategy Trends

In strategy formulation and selection, supplier networks will decreasingly be viewed as the unit of analysis.

Correct Answer
verified

Which of the following is one of the external forces affecting purchasing and supply management's role and required contributions to a firm's success?

Correct Answer
verified

The supply base will be viewed not only as tier one suppliers but also as supply networks that extend beyond the tier-one suppliers.

Correct Answer
verified

The overall purpose of [a] _____ is to maximize value to the buyer and supplier by leveraging both internal company and external supplier resources and capabilities.

Correct Answer
verified

Perhaps the most obvious area where firms are concentrating their time-reduction efforts is during new-product and process development along with achieving innovation.

Correct Answer
verified

Purchasing and supply will be expected to play a growing role in the sustainability efforts of firms, many of which closely involve suppliers.

Correct Answer
verified

Firms, not supply chains or supply networks, compete.

Correct Answer
verified

There will be increasing use of value chain mapping, big data, and predictive analytics to better understand industry trends.

Correct Answer
verified

External collaboration will signal a shift from cooperation (and two-way collaboration) to pure competition (and adversarial) for some segments (and purchasing categories) of a company's supply base.

Correct Answer
verified

Which of the following statements is false regarding category strategy?

Correct Answer
verified

Globalization will require that companies develop specific and tailored approaches to identify and hire foreign nationals.

Correct Answer
verified

Supply chains are getting longer and more global.

Correct Answer
verified

Outsourcing will likely continue, although firms will be carefully examining and sometimes rebalancing their insourcing or outsourcing and supplier location patterns.

Correct Answer
verified

Technology and supplier selection discussion during new-product development have minimal effect on cost, quality, and product/service launch, as well as future production.

Correct Answer
verified

Exam 20: Purchasing and Supply Strategy Trends

In strategy formulation and selection, supplier networks will decreasingly be viewed as the unit of analysis.

Correct AnswerverifiedShow Answer

Which of the following is one of the external forces affecting purchasing and supply management's role and required contributions to a firm's success?

Correct AnswerverifiedShow Answer

The supply base will be viewed not only as tier one suppliers but also as supply networks that extend beyond the tier-one suppliers.

Correct AnswerverifiedShow Answer

The overall purpose of [a] _____ is to maximize value to the buyer and supplier by leveraging both internal company and external supplier resources and capabilities.

Correct AnswerverifiedShow Answer

Perhaps the most obvious area where firms are concentrating their time-reduction efforts is during new-product and process development along with achieving innovation.

Correct AnswerverifiedShow Answer

Purchasing and supply will be expected to play a growing role in the sustainability efforts of firms, many of which closely involve suppliers.

Correct AnswerverifiedShow Answer

Firms, not supply chains or supply networks, compete.

Correct AnswerverifiedShow Answer

There will be increasing use of value chain mapping, big data, and predictive analytics to better understand industry trends.

Correct AnswerverifiedShow Answer

External collaboration will signal a shift from cooperation (and two-way collaboration) to pure competition (and adversarial) for some segments (and purchasing categories) of a company's supply base.

Correct AnswerverifiedShow Answer

Which of the following statements is false regarding category strategy?

Correct AnswerverifiedShow Answer

Globalization will require that companies develop specific and tailored approaches to identify and hire foreign nationals.

Correct AnswerverifiedShow Answer

Supply chains are getting longer and more global.

Correct AnswerverifiedShow Answer

Outsourcing will likely continue, although firms will be carefully examining and sometimes rebalancing their insourcing or outsourcing and supplier location patterns.

Correct AnswerverifiedShow Answer

Technology and supplier selection discussion during new-product development have minimal effect on cost, quality, and product/service launch, as well as future production.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified