chapter-1-introduction-to-supply-chain-management-23

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1. The
hybrid purchasing system, such as the one utilized by Harrah’s, includes many
benefits. In such a system the regional office preserves four fundamental
purchasing rights. Which of the following is NOT one of those rights?

a.

Allow suppliers to bid for
each purchase

b.

Select the supplier

c.

Use whichever pricing method
is appropriate

d.

Monitor contacts with
potential suppliers

2. According
to the textbook, the Las Vegas division of Harrah’s Entertainment utilizes
which of the following purchasing structures?

a.

Autocratic

b.

Decentralized

c.

Centralized

d.

Hybrid
(centralized-decentralized)

3. The
primary goals of purchasing include all EXCEPT:

a.

Secure materials at the
lowest cost

b.

Ensure the highest quality
raw materials are purchased

c.

Improve the quality of
finished goods produced

d.

Maximize customer
satisfaction

4. The
measurement of the impact of change in purchase spend on a firm profit before
taxes, assuming gross sales and other expenses remain unchanged, is referred to
as:

a.

Break-Even Analysis

b.

Direct Offset

c.

Profit-Leverage Effect

d.

Leveraging Purchase Volume

5. When
calculating Return on Investment, current assets include:

a.

Cash, Accounts Receivable,
and Inventory

b.

Cash, Accounts Receivable,
and Equipment

c.

Accounts Receivable,
Equipment, and Real Estate

d.

Equipment, Buildings, and
Real Estate

6. Which
type of requisition is used for materials and standard parts that are requested
on a recurring basis?

a.

Open requisition

b.

Blanket requisition

c.

Traveling requisition

d.

Recyclable requisition
(Cyc-Rec)

7. Inventory
Turnover can be calculated by:

a.

Ratio of average inventory
cost over cost of goods sold

b.

Ratio of cost of goods sold
over average inventory cost

c.

Ratio of inventory days in
stock over average inventory cost

d.

Ratio of average inventory
cost over inventory days in stock

8. A
pre-printed order form for purchasing materials and standard parts that are
requested on a recurring basis is referred to as:

a.

Material Requisition

b.

Purchase Requisition

c.

Planned Order Release

d.

Traveling Requisition

9. A
form of purchasing that is placed directly to the supplier and suitable when
firms use the same components to make standard goods over a relatively long
period of time is referred to as:

a.

Material Requisition

b.

Purchase Requisition

c.

Planned Order Release

d.

Traveling Requisition

10. When
a material is not available in the warehouse and there is no current supplier
for the item, the buyer must identify a pool of suppliers and issue a:

a.

Request for Quotation

b.

Purchase Order

c.

Contract for Sale

d.

Sales Order

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