20 Questions
What does the abbreviation JIT stand for in the context of purchasing?
Just-In-Time
Which of the following is NOT one of the Seven R’s of Purchasing?
Right Marketing
How do better negotiation skills and relationships with suppliers impact an organization's bottom line?
Improve operational effectiveness
What is NOT an objective of purchasing in an organization?
Maximize supplier competition
What is a key part of the Purchasing Process?
Qualifying and placing an order
Which effect does superior purchasing performance have on the bottom line?
Enhance profit
Which term is NOT synonymous with Purchasing according to the text?
Internal Logistics
What major factor leads to improved cost efficiency in purchasing?
Purchasing at a right price
Why is it essential for an organization to maintain adequate quality standards in purchasing?
To improve competitive position
What is the primary purpose of standardizing items bought according to the objectives of purchasing?
To maintain quality standards
Which of the following is NOT a type of purchase mentioned in the text?
Promotional Items
Which of the following is NOT a type of buying situation?
Managerial Problems
What is the main risk of outsourcing services according to the text?
Quality issues
Which of the following is NOT a benefit of JIT purchasing mentioned in the text?
Improved supplier relationship
What is the main purpose of a volume contract in JIT purchasing?
To guarantee a specified volume over an agreed-upon time
Which of the following is NOT an advantage of electronic procurement mentioned in the text?
Increased face-to-face communication
What is the main reason for having a single source supplier?
All of the above
Which of the following is NOT a common performance measure mentioned in the text for purchasing?
Vendor Satisfaction
Which of the following is NOT a characteristic of purchasing alliances mentioned in the text?
Supplier Relationship Management
What is the main reason for outsourcing materials according to the text?
All of the above
Test your knowledge on the importance of purchasing, basic purchasing process, and supplier selection and evaluation in supply chain management. This quiz is based on lesson 02 of IMGT 4142 - Supply Chain Management course by Asankha Pallegedara (PhD) from the Department of Industrial Management, Faculty of Applied Sciences, Wayamba University of Sri Lanka.
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