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NEW QUESTION 17
Establishing an organization's consistent physical and functional characteristics for its materials is known as:
- A. Regularity
- B. Measurement
- C. Standardization
- D. Consistency
Answer: C
NEW QUESTION 18
According to Jason Westland, author of Project management Life Cycle, a business case should NOT include which of the following?
- A. benefits, costs, risks and feasibility for each available option
- B. a description of the problem under consideration
- C. options available to solve the problem
- D. post-recommended solution
Answer: D
NEW QUESTION 19
The supply management professional may
use conflicts?
- A. Negotiation
- B. Acceptance
- C. Litigation
- D. All of the above
Answer: D
NEW QUESTION 20
A set of systematic procedures to apply critical thinking to information, data and experience for the purpose of solving problems, making decisions, anticipating future problems and appraising situations is known as:
- A. Prioritization matrix analysis
- B. Coherent analysis
- C. Lucidity analysis
- D. Rational process analysis
Answer: D
NEW QUESTION 21
By using which process, the financial services provider improved an established sourcing process to convey clear expectations to service providers?
- A. DMATM (define, manage, analyze, test, maintenance)
- B. DMADV (define, measure, analyze, design, verify)
- C. DMMDV (develop, measure, manage, distribute, maintenance)
- D. DMAIC (define, measure, analyze, improve, control)
Answer: D
NEW QUESTION 22
What is expressed in a way that indicates price changes over time?
- A. Variance
- B. Inflation
- C. Index
- D. Discrepancy
Answer: C
NEW QUESTION 23
A professional tool that organizations use to measure, investigate and control price and cost changes within their own organizations as:
- A. Panel trading
- B. Supply professionalism
- C. None of the above
- D. Custom indexing
Answer: D
NEW QUESTION 24
When an organization reduces the number and design of items it uses, this is referred to as:
- A. Generalization
- B. Overview discussion
- C. Simplification
- D. Bifurcation
Answer: C
NEW QUESTION 25
A measure of velocity of total inventory movement through the organization, found by dividing annual sales by the average aggregate inventory value maintained during the year is called:
- A. Inventory proceeds
- B. Inventory return
- C. Inventory yield
- D. Inventory turnover
Answer: D
NEW QUESTION 26
Organizations less familiar with the discipline of project management usually begin by creating task forces or committees within each role to tackle problem, known as:
- A. Performance Management
- B. Functional structure
- C. Procedural structure
- D. Procurement Management
Answer: B
NEW QUESTION 27
What is used to obtain general information about products, services or suppliers and is information request, not binding on either the supplier or the purchaser?
- A. Procurement document
- B. Qualified product description
- C. Target market
- D. Solicitation document
Answer: D
NEW QUESTION 28
Terms where the seller is responsible for delivering the goods to a carrier named by the
buyer is the:
- A. Group C
- B. Group E
- C. Group K
- D. Group F
Answer: D
NEW QUESTION 29
Postproduction inspections to ensure the quality of a good or service, and end of process activity to control quality is referred to as:
- A. Quality assurance
- B. Quality improvement
- C. Quality management
- D. Quality control
Answer: D
NEW QUESTION 30
Which of the following is NOT the international organization that provides extensive statistical data?
- A. Publication and Commercial Forecasts Organization
- B. United Nations
- C. Development and International Monetary Fund
- D. Organization for Economic Co-operation
Answer: A
NEW QUESTION 31
The process of developing information systems through investigation, analysis, design,
implementation and maintenance is known as_ .
Answer:
Explanation:
System Development Life Cycle
NEW QUESTION 32
What is useful when organizations are forecasting the effects of economic trends on national or worldwide supply and demand?
- A. Macrodata
- B. Customized pooling
- C. Microdata
- D. Growing manufacturing
Answer: A
NEW QUESTION 33
A progressive approach to control inventory is called:
- A. Materials inventory
- B. Depleted control approach
- C. Delays in production approach
- D. Supplier-managed inventory
Answer: D
NEW QUESTION 34
The mean of at least two recent periods of demand data is the basis for the next period's demand forecast is the description of which quantitative forecast method?
- A. Weighted moving average
- B. Exponential smoothing forecast
- C. Naive forecast
- D. Simple moving average
Answer: D
NEW QUESTION 35
Coding activities might include:
- A. issues approval
- B. needs notification
- C. All of the above
- D. Direct responsibility
Answer: C
NEW QUESTION 36
Which of the following is NOT the phase of business cycle?
- A. Leading & Lagging Producer price index
- B. Expansion or resuming growth path
- C. The highest point output before a downturn
- D. Recession through, or lowest point in economic activity
Answer: A
NEW QUESTION 37
What involves creating a visual depiction of a process, is the starting point to help understand each process and identify the sequencing of each process?
- A. Process Equipment
- B. Process flowcharting
- C. Process mapping
- D. Process Planning
Answer: C
NEW QUESTION 38
Applying the value of existing equipment against the purchase of new is referred to as:
- A. Trade-in
- B. Action
- C. Bidding
- D. Equipment sales
Answer: A
NEW QUESTION 39
The amount of reserve capacity that a firm maintains to handle sudden increases in demand or temporary losses of production capacity is called:
- A. Capacity cushion
- B. Capacity staffing
- C. Capacity board
- D. Capacity capability
Answer: A
NEW QUESTION 40
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