Global Supply Management MCQs
Global Supply Management MCQs
Our team has conducted extensive research to compile a set of Global Supply Management MCQs. We encourage you to test your Global Supply Management knowledge by answering these multiple-choice questions provided below.
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1: Analytic SRM _______ that allows the company to analyze the firm’s supply base .
A. SW
B. HD
C. Both a & b
D. None of these
2: Backsourcing refers to using _______ to make goods and services that previously were outsourced.
A. Internal resources
B. External resources
C. Both a & c
D. None of these
3: The exchange of goods or services without involving currency is known as ______ .
A. Internal resources
B. External resources
C. Barter
D. None of these
4: In Cloud-Based SRM customers use the supplier’s SRM software through an Internet portal, for a subscription or usage fee.
A. True
B. False
5: Commercial Buying _______ and services for business purposes.
A. Selling goods
B. Purchasing goods
C. Export goods
D. None of these
6: A process wherein a contract is usually awarded to the lowest-priced bidder determined to be responsive and responsible by the buyer is known as _______ .
A. Competitive Bidding
B. Co-Sourcing
C. Counterpurchase
D. Countertrade
7: Co-Sourcing continues to make some required units in-house while outsourcing the rest to suppliers .
A. True
B. False
8: An arrangement whereby an exporter agrees to sell goods or services to a foreign importer for currency is known as _______ .
A. Counterpurchase
B. Countertrade
C. E-marketplaces
D. None of these
9: Countertrade when _______ of domestic firms are exchanged for goods or services, and in some cases currency, from foreign firms
A. Goods
B. Services
C. Both a & b
D. None of these
10: E-marketplaces are online marketplaces where _______ meet to trade goods, services, and information .
A. Buyers
B. Sellers
C. Both a & b
D. None of these
11: E-procurement purchasing goods and services over the Internet .
A. True
B. False
12: Purchasing goods and services over the Internet is known as ______ .
A. Ethical Sourcing
B. Functional Goods
C. E-procurement
D. E-purchasing
13: Bringing about positive social change through organizational buying behaviors .This statement is related to ______ .
A. Ethical Sourcing
B. Functional Goods
C. E-procurement
D. E-purchasing
14: Functional Goods are _______ and easily substituted, and thus can be easily and cheaply purchased.
A. Lower Standardized
B. Normal Standardized
C. Highly standardized
D. None of these
15: Global Sourcing purchasing items internationally.
A. True
B. False
16: Making environmentally conscious decisions throughout the purchasing process is known as ______ .
A. Green Purchasing
B. Import Broker
C. Import Merchant
D. None of these
17: A service that performs import transactions for a fee. Import brokers do not take title to the goods is known as ______ .
A. Green Purchasing
B. Import Broker
C. Import Merchant
D. None of these
18: A service that buys and takes title to international goods and then resells them to the buyer is known as ______ .
A. Green Purchasing
B. Import Broker
C. Import Merchant
D. None of these
19: ________ uniform set of rules created by the International Chamber of Commerce for international transactions of goods
A. Green Purchasing
B. Import Broker
C. Import Merchant
D. Incoterms
20: Innovative Goods ________ with customized specifications that are considered to be high risk and high cost for the buying firm
A. Unique items
B. Specific item
C. Normal item
D. Both a & b
21: Insourcing refers to using _______ to make goods and services that previously were outsourced .
A. External resources
B. Internal resources
C. Both a & b
D. None of these
22: Key Supplier Relationship has been beneficial and the two parties see a reason to work together more often and share more information .
A. True
B. False
23: A strategic decision regarding whether the firm will purchase, make in-house, or do some combination of the two is known as ______ .
A. Make-or-Buy Decision
B. Nearshoring
C. Key Supplier Relationship
D. None of these
24: Nearshoring purchasing goods and services closer to the country of the buyer .
A. True
B. False
25: An exchange for industrial goods or services as a condition of a military-related export is known as ______ .
A. Make-or-Buy Decision
B. Nearshoring
C. Offset
D. None of these
26: P-cards are low-limit corporate bank cards designed to streamline the _______ and payment process .
A. Purchasing
B. Buying
C. Salling
D. Both a & b
27: Procurement are specifications development, value analysis, supplier market research, negotiation, buying activities.
A. True
B. False
28: Procurement cards______ bank cards designed to streamline the purchasing and payment process.
A. High-limit corporate
B. Medium-limit corporate
C. Low-limit corporate
D. None of these
29: Purchases spend money the firm spends on goods and services.
A. True
B. False
30: Purchasing is an acquisition of required materials, services, and equipment .
A. True
B. False
31: A six-step process—the first three steps involve preparing for the acquisition of goods and services is known as _____ .
A. Purchasing Cycle
B. Sourcing Strategy
C. Both a & b
D. None of these
32: Which bidding process is controlled by the buyer, wherein all potential bidders are prequalified before the purchase requirements are released?
A. Sourcing
B. VReverse Auctions
C. Sourcing Strategy
D. None of these
33: Social media include blogs, discussion boards, online video, podcasting, social networks, and wikis.
A. True
B. False
34: The entire purchasing process or cycle, including writing purchase specifications, searching for and selecting suppliers is known as _______ .
A. Sourcing
B. Social Media
C. Sourcing Strategy
D. None of these
35: A plan for managing the supply of purchased items, which is linked to spend analysis and goals is known as _____.
A. Raw materials
B. Customized items
C. Sourcing Strategy
D. None of these
36: In spend categories purchases are commonly divided into categories with common characteristics such as ______ .
A. Raw materials
B. Customized items
C. Both a & b
D. None of these
37: Use of smart purchasing practices to reduce purchase spend is related to _____ .
A. Spend Management
B. Purchase spend
C. Both a & b
D. None of these
38: Statement of Work is a supplier often attaches this _____ describing exactly what will be done and how .
A. Packing
B. Saling
C. Document
D. None of these
39: Strategic Alliance is an ongoing supplier relationship that has been beneficial and the two parties see a reason to work together more often and share more information .
A. True
B. False
40: Which process is used for approving a supplier. Supplier certification often takes place before a supplier is allowed to quote prices or receive an order ?
A. Supplier Scorecard
B. Supplier Relationship Management
C. Supplier Scorecard
D. Supplier Certification Program
41: A more advanced form of VMI. A full-time supplier representative resides in the buying firm’s purchasing department ,this statement is related to _____ .
A. Supplier Scorecard
B. Supplier Relationship Management
C. Supplier Scorecard
D. Supplier Co-Location
42: Encompasses a broad suite of capabilities that facilitate collaboration, sourcing, transaction execution ,this statement is related to ______ .
A. Supplier Scorecard
B. Supplier Relationship Management
C. Supplier Scorecard
D. Supply Base
43: Supplier scorecard is used by buyers to track supplier performance.
A. True
B. False
44: The list of suppliers the firm is currently using is known as ______ .
A. Supplier Scorecard
B. Supply Base
C. Both a & b
D. None of these
45: Supply Base purchases from _______ suppliers while increasing purchases from more desirable, top-performing suppliers.
A. Marginal
B. Poor-performing
C. Both a & b
D. None of these
46: Supply Management is the identification, acquisition, access, positioning, and management of resources the organization needs.
A. True
B. False
47: A process of purchasing goods and services that takes into account the long-term impact on people, profits, and the planet is known as ______ .
A. Sustainable Sourcing
B. Supply Management
C. Supply Base Reduction
D. Both b & c
48: A tax or customs fee imposed by a government on imported goods to protect local industries and/or raise revenue is known as _____ .
A. Tariff
B. Total Cost of Ownership
C. Transactional SRM
D. Vendor Managed Inventory
49: Which method is used for comparing competing price quotes. This is a projected cost estimate that includes the initial acquisition costs .
A. Total Cost of Ownership
B. Transactional SRM
C. Vendor Managed Inventory
D. None of these
50: Transactional SRM is a software that enables an organization to track supplier interactions such as ______ .
A. Order planning
B. Order payments
C. Returns order
D. All of these
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Global Supply Management MCQs
