QUIZ 5

SURNAME, FIRST NAME MI.

Evaluate responses using AI:

OFF

SECTION

• ADT 2A
• AUTO 2B
• FBPSM 2A
• FBPSM 2B

What is the process of buying known as?

• Purchasing
• Marketing
• Selling
• Manufacturing

What are the four categories of objectives of purchasing?

• Quality, Price, Service, Supplier Relations
• Quality, Quantity, Delivery, Price
• Quality, Quantity, Price, Service
• Quantity, Price, Service, Supplier Relations

What is the main responsibility of the purchasing department in the purchasing cycle?

• Issuing purchase orders
• Determining the right price
• Receiving and analyzing purchase requisitions
• Selecting suppliers

What is the primary focus of value analysis?

• Reducing costs
• Enhancing customer service
• Improving quality
• Increasing production speed

What is the purpose of competitive bidding in purchasing?

• To establish supplier relationships
• To manage inventory levels
• To negotiate long-term contracts
• To compare prices from various suppliers

What is the key advantage of contract buying in purchasing?

• Ensures supplier flexibility and reliability
• Reduces administrative costs of ordering
• Allows for quick reaction to changes in schedules
• Facilitates easy communication between planner/buyers and suppliers

What is the main focus of Customer Relationship Management (CRM) in supply chain management?

• Managing the flow of physical materials
• Developing long-term relationships with key suppliers
• Sharing information up and down the supply chain
• Building and maintaining strong customer relationships