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WorksheetsSEMI sa SCM
Total questions: 50
Worksheet time: 24mins
T/F. Direct procurement used to buy consumables and perishables
True
False
T/F. Invoice comes first before receipt.
True
False
T/F. Merchandise represents finished goods a company buys from a supplier for future resale
True
False
T/F. JIT was invented and first used by Toyota
True
False
T/F. Approved Purchase orders become purchase requisition
True
False
T/F. Letter of invitation for suppliers is done during requisition review
True
False
T/F. Service procurement maintains one-off relationship with suppliers
True
False
T/F. Receipts are sent from the vendor to the purchaser.
True
False
T/F. Inventories are assets and liabilities.
True
False
T/F. Enterprise requirement planning (ERP) are used by large corporations in managing inventory.
True
False
Check all that apply: Three-way matching includes____
Purchase requisition
Purchase order
Invoices
Packing slips
Check all that apply: Order management includes____
supplier assessment report.
Invoices
purchase order
RFQ
Check all that apply: Inventory management methods include____
JIT
MRP
FIFO
DSI
Check all that apply: Evaluation and Contract stage includes____
contract terms and conditions
evaluation committee agenda
request for clarification
RFI template
Check all that apply: Inventory is accounted using ____
Weighted average costing
LIFO
DSI
FIFO
ACRONYM meaning: MRP
(a)
ACRONYM meaning: EOQ
(a)
ACRONYM meaning: DSI
(a)
ACRONYM meaning: RFQ
(a)
ACRONYM meaning: ERP
(a)
ACRONYM meaning: RFP
(a)
ACRONYM meaning: JIT
(a)
ACRONYM meaning: RFI
(a)
ACRONYM meaning: SaaS
(a)
ACRONYM meaning: DIO
(a)
ACRONYM meaning: LIFO
(a)
It is a request for approval to buy goods from other entity while having an existing contract to suppliers or entity.
(a)
It represents raw materials in the process of being transformed into a finished product.
(a)
It means only one manufacturer or brand will provide the needs of the company.
(a)
An inventory management method which aims to minimize holding cost in order to minimize total cost of production.
(a)
A document that enables understanding of agreements between entities
(a)
An independent person or body officially appointed to settle a dispute
(a)
An inventory management method which aims to minimize holding cost and set up cost in order to minimize total cost of inventory.
(a)
It means shipping of incorrectly delivered goods back to the supplier.
(a)
It entails investigation and audit used to acquire products or purchases.
(a)
It is a financial ratio that indicates the average time in days that a company takes to turn its inventory, including goods that are a work in progress, into sales.
(a)
The person who purchases and receives orders from the suppliers
(a)
It refers to the process of completing all tasks and terms that are mentioned as deliverable and outstanding on the initial drafting of the contract.
(a)
A person who request or demand an order.
(a)
The first stage of a procurement process.
(a)
Check all that apply: Benefits of procurement software
Shortens the procurement lifecycle
Heightens user-adoption rates from a common user experience and design
Lowers operational costs through streamlined business processes and best practices
Reduces human dependency intervention and errors
It refers to the process of ordering, storing and using a company's inventory.
(a)
Type of procurement that involves sourcing and purchasing materials, goods, or services for internal use
(a)
The procurement stage where information of suppliers or vendors are collected.
(a)
These are completed products readily available for sale to a company's customers.
(a)
A pre-negotiation process with the objective to identify and obtain available contractor or retailer information needed to complete a project or procurement.
(a)
The procurement stage where RFI and RFP are accomplished.
(a)
The procurement stage where three way matching is done.
(a)
The procurement stage where the total acquisition cost finder is calculated.
(a)
Inventory is also called as (a)
