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Exam 8: Supply Management

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Question 31

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Which of these is an indirect cost associated with insourcing?

A) maintenance
B) purchasing
C) receiving
D) quality control

E) A) and D)
F) All of the above

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Question 32

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The entire plant needs a fresh coat of paint so you,as the operations manager,are charged with securing a painting contract to accomplish this.You locate four painting contractors and ask them for their performance on four criteria.Their responses,along with your minimum standards and the importance you place on each criterion,is shown in the table.Assign scores from 1 to 5 where 1 is terrible and 5 is excellent,for each contractor's performance on each criterion and determine who should be awarded the contract.Write a brief explanation for all the 1s and 5s you assign.

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Answers will vary.Contractor 3 cannot me...

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Question 33

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Among the disadvantages of ________ are that different product attributes with varying qualities may be produced and that it can actually result in increased prices over time.

The phenomenon that a dollar in cost savings increases pretax profits by a dollar,while a dollar increase in sales increases pretax profits only by the dollar multiplied by the pretax profit margin is known as the:

Profit margin is the ratio of ________ to ________.

Business partners that transfer payments between banks using an information system are using ________.

________ is a purchasing description method that focuses attention on the outcomes the customer wants.

The weighted-point evaluation system allows for a completely objective decision to be made.

Briefly discuss the three trends that make supply management so critical in today's business climate.

A recent trend in supply management is a move towards a more sustainable supply chain.

A manufacturer that wants to make sure that suppliers do not become complacent should use multiple sourcing.

Horace Smithfield,Esq. ,was insistent that he pay a flat rate of $10,000,000 and not a penny more to transfer his inheritance through your checking account so he could move vast sums of cash out of his country.Sure,he had fallen out of favor with the government and the economy in his country was in a dire situation,but a deal was a deal and $10,000,000 was all he could afford to pay.This type of purchase contract was to be a(n)________ if you would kindly provide your account information..

The purchasing team occasionally examined their spending patterns to identify irregularities as part of a(n)________.

Money is automatically drawn from the buyer's account and deposited into the supplier's account in an electronic funds transfer (EFT).

Outsourcing can be risky because it decreases the firm's strategic flexibility.

A company using portfolio analysis decides to form partnerships with suppliers;the products in question probably fall in the ________ quadrant.

The ratio of earnings to sales for a given time period is the:

Firms do not compete only against global competitors,but against:

When compared with single sourcing,multiple sourcing has the advantage of:

A recent survey of executives at Global 1000 companies uncovered what fear?