ProcWhiz

In the Balanced Scorecard framework, which perspective focuses on how the organization appears to its customers?

• Financial Perspective

• Customer Perspective

• Internal Processes Perspective

• Learning and Growth Perspective

_______________ includes the management of raw materials, components and finished products, as well as warehousing and processing of such items.

________________ refers to those supplies, materials, and equipment included in the price list of the procurement service which is necessary in the transaction of official business of the procuring entity and consumed in its day-to-day operations.

It is a framework that helps organizations put strategy at the center of the organization by

translating strategy into operational objectives that drive both behavior and performance

____________ is the management of the flow of goods, information, and resources between the point of origin and the point of consumption.

• Weekly Inventory

• Supply Chain Management

• Inventory Management

• Logistics

Which of the following is NOT considered one of the four major inventory management methods?

• just-in-time management (JIT)

• materials requirement planning (MRP)

• cost-volume-profit analysis (CVP)

• economic order quantity (EOQ)

• days sales of inventory (DSI)

A method that allows agency to save significant amounts of money and reduce waste by keeping only the inventory items store and sold or goods that are received from suppliers only as they are needed

• Materials Requirement Planning

• Economic Order Quantity

• Days Sales of Inventory

• Just-in-Time Management

Which is NOT a top procurement concern:

• Weak link between budgeting and procurement planning

• High percentage of alternative modes of procurement vs. public bidding

• Failure of bidding due to insufficient ABC and/or specs required are not available

• All of the Above

• None of the Above

Which of the following perspectives does the Balanced Scorecard NOT directly address?

• Financial

• Customer

• Marketing

• Learning and Growth

• None of the Above

This model is used in inventory management by calculating the number of units a company should add to its inventory with each batch order to reduce the total costs of its inventory while assuming constant consumer demand. The costs of inventory in the model include holding and setup costs.

• Materials Requirement Planning

• Economic Order Quantity

• Days Sales of Inventory

• Just-in-Time Management

• Both A and C