Bus 230 Wk 4 Quiz Chapter 4 - All Possible Questions

BUS 230 WK 4 Quiz Chapter 4 - All Possible Questions

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BUS 230 WK 4 Quiz Chapter 4 - All Possible Questions

1. The greatest opportunity to affect value in the purchasing process is when:

a. the supplier(s) is selected.

b. price and terms are determined.

c. potential suppliers are analyzed.

d. needs are recognized and described.

e. the buyer follows-up and expedites the order.

2. If the buyer does not have a clear and unambiguous description or specification and wants to find out which suppliers can deliver the best value when and where needed, he or she will typically issue a:

a. request for quotation (RFQ).

b. request for proposal (RFP).

c. request for information (RFI).

d. request for bid (RFB).

e. request for suggestions (RFS).

3. The benefit(s) of participation in an e-marketplace include:

a. the ability to aggregate spend

b. the advantages from economies of scale.

c. visibility up- and downstream in the supply chain.

d. the ability to automate and facilitate transactions.

e. all of the above.

4. One purpose of a requisition is:

a. to give users a way to authorize buyers to acquire goods and services.

b. to solicit price quotes for goods or services from suppliers.

c. to give finance a way to have the final say in any decision to spend money.

d. to clarify the description of need before communicating with potential suppliers.

e. to request or requisition supplies from external suppliers.

5. Radio frequency identification (RFID) will:

a. eliminate bar coding and manual counting.

b. eliminate further investment in information technology.

c. supplement bar coding to reduce theft.

d. be more cost effective to implement than bar coding.

e. improve data capture but slow down inventory picking

6. Efficient and effective supply processes are needed because of:

a. the need for an audit trail.

b....