Logistics Fundamentals: Sourcing Strategies & Supplier Selection

Fill in the blank: ________ is a method where different factors are given different levels of importance when making a decision. Each factor is assigned a "weight" to show how much it matters.

• Weighted Criteria

• Random Sampling

• Brainstorming

• Majority Voting

Fill in the blank: ________ measures how well a person, machine, or system completes a task compared to expectations or standards.

• Performance

• Temperature

• Distance

• Volume

Fill in the blank: ________ is the maximum amount something can hold or produce.

• Capacity

• Velocity

• Density

• Temperature

Fill in the blank: ________ is a document sent to suppliers asking for the price of specific goods or services.

• Request for Quote (RFQ)

• Purchase Order (PO)

• Invoice

• Bill of Lading

Fill in the blank: ________ is the amount of money required to buy or do something.

• Cost

• Profit

• Salary

• Tax

Fill in the blank: ________ refers to planning and actions designed for achieving long-term goals.

• Strategic

• Tactical

• Operational

• Routine

Fill in the blank: ________ is a person or company that provides goods or services.

• Supplier

• Customer

• Employee

• Manufacturer

Fill in the blank: ________ is a document asking suppliers to submit detailed plans and prices for fulfilling a project or service.

• Request for Proposal (RFP)

• Purchase Order (PO)

• Invoice

• Bill of Lading

Fill in the blank: _______ is the ability to consistently perform well or deliver on time.

• Reliability

• Creativity

• Flexibility

• Ambiguity

Fill in the blank: The total time taken to complete one full process or task from start to finish is called _______.

• Cycle Time

• Lead Time

• Throughput

• Idle Time