Podcast
Questions and Answers
What is the main purpose of a make or buy analysis for a firm?
What is the main purpose of a make or buy analysis for a firm?
- To determine the costs associated with purchasing products from different suppliers
- To compare the costs of producing a product internally versus buying it externally (correct)
- To evaluate the quality of products from internal and external sources
- To assess the innovation and performance of potential suppliers
What motivates a company to switch suppliers according to the text?
What motivates a company to switch suppliers according to the text?
- Price increases by current suppliers
- Poor supplier performance (correct)
- Innovations in the supply market
- Excessive delays in delivery
What is the primary advantage of single sourcing over multi-sourcing?
What is the primary advantage of single sourcing over multi-sourcing?
- Greater flexibility in sourcing options
- Avoidance of dependence on a single supplier
- Encouragement of close supplier relationships (correct)
- Enhanced volume consolidation
Which attribute is NOT typically considered during supplier selection according to the text?
Which attribute is NOT typically considered during supplier selection according to the text?
In the context of processes, what do strategic processes primarily involve?
In the context of processes, what do strategic processes primarily involve?
What is the main focus of the Theory of Constraints mentioned in the text?
What is the main focus of the Theory of Constraints mentioned in the text?
What is the THIRD 'right' in the seven rights of purchasing?
What is the THIRD 'right' in the seven rights of purchasing?
Which type of strategic sourcing mix involves high volume, complex items?
Which type of strategic sourcing mix involves high volume, complex items?
Which of the following is NOT a factor that defines complexity in sourcing?
Which of the following is NOT a factor that defines complexity in sourcing?
When making something in-house initially, the costs are higher due to what?
When making something in-house initially, the costs are higher due to what?
What is the relationship between collaborative forecasting and supplier integrated manufacturing in terms of level of integration?
What is the relationship between collaborative forecasting and supplier integrated manufacturing in terms of level of integration?
What is the 'profit leverage effect' in purchasing?
What is the 'profit leverage effect' in purchasing?
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