Podcast
Questions and Answers
What is the purpose of increasing the degree of vertical integration?
What is the purpose of increasing the degree of vertical integration?
- To reduce the cost of products
- To decrease the complexity of the purchasing process
- To simplify the supply chain (correct)
- To manage inventory for multiple companies
What is the characteristic of HIGH SPECIFICITY PRODUCTS according to the text?
What is the characteristic of HIGH SPECIFICITY PRODUCTS according to the text?
- They have many substitutes available
- They are low in volume and inexpensive
- They are purchased through a simple process
- They require a complex and organized purchasing process (correct)
What is the main responsibility of VENDOR MANAGED INVENTORY (VMI) according to the text?
What is the main responsibility of VENDOR MANAGED INVENTORY (VMI) according to the text?
- Outsourcing inventory service to multiple companies
- Reducing complexity in the supply chain
- Soliciting detailed proposals from vendors
- Managing the logistics and quality of components (correct)
What is the purpose of a REQUEST FOR PROPOSAL (RFP)?
What is the purpose of a REQUEST FOR PROPOSAL (RFP)?
What problem led to the establishment of JUST IN TIME delivery, as mentioned in the text?
What problem led to the establishment of JUST IN TIME delivery, as mentioned in the text?
In what industries did VENDOR MANAGED INVENTORY (VMI) initially start, according to the text?
In what industries did VENDOR MANAGED INVENTORY (VMI) initially start, according to the text?
What is the aim of strategic sourcing according to the text?
What is the aim of strategic sourcing according to the text?
How has sourcing changed today compared to the past, as mentioned in the text?
How has sourcing changed today compared to the past, as mentioned in the text?
What is an example of a problem caused by COVID-19 mentioned in the text?
What is an example of a problem caused by COVID-19 mentioned in the text?
What is 'RESURING' as mentioned in the text?
What is 'RESURING' as mentioned in the text?