
Inventory Management, Supplier Selection and Purchasing Issues
Authored by jelyn gabince
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University

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
inventory refers to all the items, goods, merchandise, and materials held by a business for selling in the market to earn a profit.
true
false
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inventory management helps companies identify which and how much stock to order at what time.
true
false
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is the process of
choosing which prospective vendor should an organization get into
business with.
supplier selection
purchasing
benchmarking
customer intelligence
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The supplier
selection process should be well-planned and
well-executed to ensure that the best supplier
is selected for the project.
true
false
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ordering the correct items or quantities can lead to serious procurement problems with your suppliers.
true
false
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It refers to the process of managing and monitoring expenses to ensure they remain within a predetermined budget.
purchasing
cost control
supplier selection scorecard
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is the probability that a
product, system, or service will perform it’s
intended function adequately for a specified
period of time or will operate without failure.
reliability
financial security
supplier selection process
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