When a supplier maintains an inventory of certain items in the customer's facility, this approach is known as:
A. Supply managed procedure
B. Product scheduling
C. Supply-chain management
D. Vendor-managed inventory
What includes the functions of establishing specifications, selecting suppliers, price determination, and negotiation?
A. Supplier scheduling
B. Competitive follow-up
C. Procurement
D. None of the above
ensures suppliers a given amount of business and commits them to allocating that amount of their capacity to the customer.
A. Contract buying
B. Developing schedules
C. Supplier flexibility
D. Business responsiveness
The costs those directly associated with the amount produced or sold are called:
A. Fixed cost
B. Variable cost
C. Total cost
D. Average cost
A price that is competitive, gives the seller a profit, and allows the buyer ultimately to sell at a profit is known as:
A. Actual price
B. Fair price
C. Impartial price
D. Average price
Buyers in which environment need suppliers who value their new relationship, working in partnership to remove waste from the system?
A. After-sales service
B. Just-in-time capabilities
C. Manufacturing capabilities
D. Supplier technical ability
Which of the following are the types of sourcing?
A. Sole, multiple, single
B. Multiple, single
C. Group, multiple, single
D. Sole, Group
A planned decision by the organization to select one supplier for an item when several sources are available is called:
A. single sourcing
B. sole sourcing
C. singular sourcing
D. unique sourcing
Which of the following are the two sources of specifications?
A. Seller specification and Standard specification
B. Buyer specification and Buyer specification
C. Buyer specification and Standard specification
D. Standard specification and Engineering specification
Functional specification can be described by a combination of:
A. Brand
B. Engineering drawings
C. Miscellaneous
D. All of the above
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