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A document that assures the seller that payment will be made by the bank issuing the letter of credit upon fulfillment of the terms is called a?
A. Letter of credit document for assurance.
B. Financial instrument document for assurance.
C. Bank draw document for assurance.
D. Cashiers check document for assurance.
The measure of inbound revenues and outbound expenses in a time period is called?
A. Cash flow financial measure
B. Revenue transfer financial measure
C. Cost flow financial measure
D. Revenue flow financial measure
Ethical business conduct in supply management has a great importance to your organization. In supply management there are three key areas of social responsibility. There are 1) Ethical standards in the conduct of supply management. 2) Environmental compliance and responsibility in the supply chain and life cycle and 3) is what?
A. Human rights compliance.
B. Organizational and supply chain safety.
C. International standards of business conduct (ISBC)
D. Social responsibility norms.
The management of the various facets of a contract to ensure performance in accordance with contractual requirements is referred to as?
A. Contract administration of a contract.
B. Contracting Officer Representative duties.
C. Contract performance of duties.
D. Contract assessment of the contracted terms.
When you are managing a contract, a binding expression of interest and willingness to create a contractual relationship is called a/an?
A. Bid for business
B. Award for business
C. Offer for business
D. Placement for business
The supply manager knows the advantages of mutually beneficial supplier relations. Part of this is trust built on of information shared between the supplier and buying organization. Choose the most important part of trust.
A. Confidentiality in supply management interactions
B. Sharing between buyer and supplier
C. Strategic alignment
D. Communication between buyer and supplier
The execution and development of an exit strategy includes?
A. Determining new suppliers.
B. A plan that sets forth the terms and conditions the organization and the supplier will carry out actMties and responsibilities under.
C. Repacking supplies for distribution.
D. Financial analysis for when to exit.
A buying strategy where an organization may guarantee the next four weeks requirements, then guarantee 90 percent of weeks five through eight and 75 percent of weeks nine through twelve is?
A. Volume purchase agreement the organization.
B. Speculative buying on behalf of the organization.
C. Fon/vard buying for the organization.
D. Buying to requirements of the organization.
The European Union directives designed to protect the health and safety of employees and supply personnel include 1) Restriction of Hazardous Substances (RoHS), 2) Waste Electrical and Electronic Equipment Directive, and?
A. Restriction of Grave MateriaIs (RoGM)
B. Registration, Evaluation and Authorization of Chemicals Directive (REACH)
C. Restriction of National Ban Products (RoNBP)
In supply management international marketing globalization refilects a business orientation the world market is becoming more homogenous and the distinctions between national markets are disappearing. As a result companies develop strategies to take advantage of four marketing strategies which are 1) Market factors such as improved distribution channels and technology. 2) Cost factors such as duplication or inefficiency. 3) Competitive factors such as market presence and 4) ?
A. Cultural factors preventing or promoting trade.
B. Environmental factors such as global communications and emerging markets.
C. Formalized risk management of markets.
D. Global factors such as war, famine or natural disaster.
The total cost of one unit of goods or services including purchase price and all associated costs is referred to as?
A. Life cycle cost for supply management.
B. Benchmarking unit costs for supply management.
C. The consistent unit cost for supply management.
D. Unit total cost for supply management.
Based upon Porter's five forces, the acronym SWOTT represents strengths, weaknesses, opportunities, threats and what?
When the supply management professional is analyzing potential sources for goods or services and a situation exists where there are many suppliers and no collusion among them this is referred to as competition.
A. Technical form of supply management
B. Single source form of supply management
C. Full and open form of supply management
D. Limited form of supply management
Visual language that facilitates communication among supply chain members on necessary tasks is referred to as?
A. Supply chain mapping for supply chain members
B. Streamline visualization for supply chain members.
C. A3 diagramming for supply chain members.
D. Process improvement for supply chain members.
The supply management professional must know if their supplier has the capacity to take on more orders. A plant that is fully utilized operates at what percent of its theoretical capacity?
A. 80 to 85 percent
B. 95 to 100 percent
C. 60 to 70 percent
D. 90 to 95 percent
A quantitative tool that compares multiple proposals by scoring the responses of one supplier in comparison or relative to another is called a?
A. Comparative analysis comparison tool.
B. SWOT analysis comparison tool.
C. Decision matrix comparison tool.
D. Risk management comparison tool.
In terms of developing supplier diversity programs purchases made by the government represent _ to _ percent of the gross domestic product.
The process of determining the right mix and number of suppliers to meet the organizations requirements is called?
A. Competition optimization of the organization.
B. Supply chain management methodology.
C. Ordering optimization of the organization.
D. Supply base optimization.
Supply management professionals must be mindful of environmental sustainability. The three categories of environmental laws in the US at the Federal Level are air pollution, water pollution and?
A. Environmental accident prevention
B. Solid waste and toxic waste disposal
C. Cradle to Grave use and disposal
D. EPA regulated
Management must be able to verify a budget's what? Choose the BEST response.
A. A budgets Integrity.
B. A budgets Performance.
C. A budgets Strategic Alignment.
D. A budgets return on investment.
One of the major duties of the supply management professional is the review and evaluation of the suppliers what? Select the BEST response for evaluation of a supplier.
B. Key performance measure
C. Key process output variable (KPOV)
D. Actual or anticipated cost data.
International laws that affect international commerce are called?
A. Maritime laws of international commerce.
B. International marine laws of international commerce.
C. International commerce laws.
D. Marine laws of international commerce.
Negotiations are used as a tool to obtain what?
A. Best deal for the supply management organization.
B. Lowest price for the supply management organization.
C. Shippers bids in alignment with desired costs.
D. Maximum value for the supply management organization.
Gathering opinions from sales staff helps to build forecasting for what?
A. Costs and growth in supply management operations.
B. Future sales and growth in supply management operations.
C. Utilization and spend in supply management operations.
D. An opinion database in supply management operations.
Cost baseline review includes forecasting, cost savings and cost avoidance, budget reduction and?
A. Historical costs of the organization.
B. Future budget forecasting.
C. Variable costs within production or service provision.
D. New applied costs which had not been anticipated.
Supply management costs related to contingency and disaster recovery operations is/are called?
A. Business continuity costs of supply management.
B. Risk management costs of supply management.
C. Contingency planning costs of supply management.
D. Intangible costs of supply management.