Bus 402 Week 9 Quiz 9 Chapter 17,18 - Strayer

BUS 402 WK 9 Quiz 9 Chapter 17,18

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1) The primary objective of the purchasing function is to:

A) ensure an adequate turnover of merchandise.

B) acquire enough stock to ensure uninterrupted sales or production.

C) determine the "best" possible price for both supplies and finished products.

D) maximize carrying and set-up costs for the firm.

2) The small company's purchasing plan is closely linked to which of the other functional areas?

A) Marketing and sales

B) Finance and accounting

C) Production and engineering

D) All of the above

3) Managers have discovered that a quality approach to doing business:

A) is much more expensive than a nonquality focus, but worth it.

B) can lower employee turnover, increase market share, and decrease costs.

C) is easier to achieve than expected when TQM is implemented in an existing business.

D) works in manufacturing but is not applicable to the purchasing process.

4) Total Quality Management (TQM):

A) defines world-class quality as 95% defect-free products and services.

B) has been implemented by about 90% of all American manufacturers and is now moving into the service industry.

C) relies on an army of quality inspectors to ensure that products and services meet quality targets.

D) is a lifelong process of continuous improvement that focuses on doing the job right the first time.

5) As a solution to a company's quality problems, managers will find that TQM:

A) may be implemented without significant training of employees.

B) takes 3-4 years to bring about a significant change in quality.

C) techniques can be implemented piecemeal, one-at-a-time.

D) creates little turmoil or change in the way a company does most of its business.

6) Research on the implementation of TQM programs shows that it takes ________ to completely implement a TQM...