Supply Chain Sourcing Coursera Quiz Answers

All Weeks Supply Chain Sourcing Coursera Quiz Answers

Supply Chain Sourcing Week 1 Quiz Answers

Quiz 1: Purchasing and Procurement

Q1. What are the two major objectives in industrial purchasing? Select two of the four below that apply the best.

• Agility
• Reduce Purchasing Cost
• Flexibility
• Ensure Continuity of Supply

Q2. What are the five things that a purchasing agent must accomplish in the purchasing cycle? Select all that apply.

• Processing purchase orders
• Receiving and monitoring advance shipping notices.
• Confirming receipt of goods.
• Processing invoices.
• Paying suppliers.

Q3. Name the 12 things that purchasing must get right.

Your answer cannot be more than 10000 characters.

Its always depends on the nature of buyers and sellers

Q4. A procurement department’s value add is that it _______________________ between the firm and its suppliers.

• interfaces
• manages all relationships
• negotiates
• mediates

Q5. Most organizations view the procurement department as critical to what?

• Issuing Purchase Orders
• Getting the lowest price regardless of other considerations.
• Managing costs
• Saving money

Q6. Procurement affects the sustainability of the firm, by focusing on several areas (select all that apply):

• Environmental Concerns
• Economic Concerns
• Social Concerns

Q7. What steps are required to establish a Supply Management Initiative? Select all that apply.

• Classify all purchased goods and services
• Analyze the supply market
• Determine strategic supply position
• Develop materials, strategies & action plans

Q8. What characterizes Strategic Suppliers? Select all that apply.

• Integration as a means of risk mitigation
• Using innovation to drive additional sales
• Focus on a win-win (rather than continuous cost cutting).
• Long-term relationships – true partnerships.

Q9. What characterizes Bottleneck suppliers? Select all that apply.

• Risk diversification through multiple suppliers.
• Supply assurance is critical.
• Cost cutting through aggressive negotiation.
• Set up tight control mechanisms of vendors.

Q10. What characterizes Leverage suppliers? Select all that apply.

• Aggressive negotiations.
• Use purchasing power to obtain concession.
• Risk diversification.
• Using innovation to drive additional sales.

Q11. How would you characterize Routine suppliers? Select all that apply.

• Simplify the process.
• Set up tight control mechanisms of vendors.
• Aggressive negotiations.
• Reduce complexity.

Q12. What is the definition of co-creation of value?

• The mutual and collaborative creation of a product that delivers value beyond the actual item.
• Outsourcing work to the customer.
• Having multiple entities join to develop a product.

Q13. How do you create a win-win situation with a strategic supplier? Select all that apply.

• Refocus what is important to each side.
• Take on each other’s interest
• Assume that there is no end to the relationship.

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