2240 - supply 1

Question 1

For the Incoterm CIF (Cost, Insurance and Freight), does the seller clear the goods for export, is responsible for delivering the goods on board at the port of shipment, pays the costs associated with transport of the goods to the port of destination, and procures and pays for marine insurance in the buyer’s name for the shipment.

Answer 1

True

Question 2

If material has been declared surplus are there several disposal options including storing it until needed, substituting it for a material in demand, transferring it to another plant, or selling it.

Answer 2

True

Question 3

Should Supplier performance management systems be designed to capture and communicate supplier performance data to improve future performance and future decisions.

Answer 3

true

Question 4

Can Examination of activities and plant processes in the collection and handling of scrap potentially lead to cost savings through reduced material handling expenses and lower fees.

Answer 4

true

Question 5

When purchasing from offshore suppliers, buyers might expect delays resulting from:

Answer 5

Establishing Credit

Inland Transportation in the Supplier’s Country

Domestic Customs

Port Congestion

Question 6

Is the governing convention on shipping terms and responsibilities involved in international transportation called FOB (Free On Board).

Answer 6

false

Question 7

Is a foreign trade zone (FTZ) in the U. S. completely different in purpose from a maquiladora in Mexico.

Answer 7

false

Question 8

Is it as easy to compare total cost of ownership from an offshore source to that of a domestic one.

Answer 8

false

Question 9

To ensure maximum return for its investment, must the process and procedures for selling scrap and surplus cover a broad range of activities including segregation and storage, weighing and measuring, delivery, negotiation, supplier selection, and payment

Answer 9

true

Question 10

May Supply management’s contribution be measured along three dimensions: reputational enhancement, process management, and price reductions.

Answer 10

true

Question 11

Can Supply metrics can be grouped into two broad categories: efficiency and effectiveness.

Answer 11

true

Question 12

Is the bill of lading the contract between the shipper and carrier.

Answer 12

true

Question 13

is the packing slip created by the receiving department as part of the receiving process.

Answer 13

false

Question 14

Do Cost management categories that might be measured include: (1) cost savings, (2) cost reductions, (3) cost avoidance, and (4) process cost savings.

Answer 14

true

Question 15

Does the total cost of hazardous waste for a company include the costs of new plant and equipment to reduce waste and deal with contaminated plants.

Answer 15

true

Question 16

Have Some organizations found that when entering a new market, purchasing products and/or services, before trying to sell into the market, provides several advantages.

Answer 16

true

Question 17

When purchasing goods or services from an offshore supplier, is the most conservative risk management approach to price in the currency of the supplier.

Answer 17

false

Question 18

Does Industry benchmarking allow an individual company to compare itself to the average and range of performance data for all respondents in the aggregate.

Answer 18

true

Question 19

Is an organization’s enterprise resource planning (ERP) system of little use when developing a national or global database for company personnel at different locations to post and purchase obsolete and surplus materials.

Answer 19

false

Question 20

Is Supply availability the most common criterion used to decide where organizations direct their supply research efforts.

Answer 20

false

Question 21

Does Production planning rely heavily on forecasts from sales and marketing to anticipate demand for products and services.

Answer 21

true

Question 22

Is Internal validation of supply’s financial contribution easy to achieve, but unlikely to happen in most organizations because the cost of assessment outweighs the benefits.

Answer 22

false

Question 23

Do Logistics activities occur throughout manufacturing companies, and are not a major consideration for firms in the services sector.

Answer 23

false

Question 24

Do Duty drawbacks permit a refund of duties paid on imported materials that are later exported.

Answer 24

true

Question 25

Typically, are international purchasing offices (IPOs) used when the company has an established presence in the same geographic region where important suppliers are located.

Answer 25

false

Question 26

Is it common for international trade disputes to be settled through international arbitration partly because the costs of litigation exceed the costs of arbitration.

Answer 26

true

Question 27

Has the growth in international trade come from an increase in the international sale of goods but not services.

Answer 27

false

Question 28

Does the assessment of a supplier's financial capacity enable the development of risk minimization strategies.

Answer 28

true

Question 29

Have Improvements in transportation and communications reduced the lead time for offshore purchases.

Answer 29

true

Question 30

Does Value analysis compare the function performed by a purchase item with the cost.

Answer 30

true

Question 31

Are Escalator clauses in contracts for scrap disposal necessary because the prices of primary metals fluctuate regularly.

Answer 31

true

Question 32

Is the method of material and equipment disposal that provides the maximum return to sell to another firm on an "as is" basis.

Answer 32

false

Question 33

As more people believe that it makes economic sense to practice environmentally sound operations, May business and government be able to work together for common goals.

Answer 33

true