TLMT 313 Mid Term

TLMT 313 Mid-Term

Question 1 of 50 2.0 Points

Which action is not necessary in implementing WCSM?
A. Senior management must recognize supply management's critical nature to the firm
B. Senior management must support the required transformation of supply management to world class
C. Firms must know where they are in relation to where they want to be
D. Firms must benchmark best-in-class practices and develop metrics
Correct E. Firms must force their suppliers into world-class compliance
Answer Key: E
Feedback: Chapter 1 - page 17 Question 2 of 50 2.0 Points

Which bullet is not true of the proactive stage of SM?
A. Near defect free materials and services
B. Emphasis: cost, quality and timeliness
Correct C. Reporting: low level
D. Relationships: transactional and collaborative
E. Bottom line impact: profit contributor
Answer Key: C
Feedback: Chapter 1 - Page 18 - Fig 1.6

Question 3 of 50 2.0 Points

Which of the following bullets is not a phase of Supply Management?
A. Creation of an enforceable agreement
B. Management of the relationship
Correct C. Manage supplier sourcing projects for the vendor
D. Establishment of a fair and reasonable price
E. Identification of best supplier
Answer Key: C
Feedback: PowerPoint Slide 1 - 10 Question 4 of 50 2.0 Points

The importance of supply management in any specific firm is determined by the following factors:
A. availability of materials and services
B. absolute dollar volume of purchases
C. absolute dollar volume of purchases
D. types of materials and services purchased
Correct E. All of the above
Answer Key: E
Feedback: Chapter 2 - page 32 Question 5 of 50 2.0 Points

Which of the following is not a step in the “Six-step Environment Monitoring Strategy” presented in Chapter 3?
A. "Identify the major suppliers and customers of the materials and services."
B. "Build a model that predicts the material (or service) behavior."
C.