ASCM 626 Final Exam (UMUC)

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ASCM 626 Final Exam (UMUC

1. Kanban systems can best be described as
2. Which one of the following is NOT an example of a strategic purchasing measurement indicator
3. Negotiation     refers to the overall approach used to reach a   mutually beneficial agreement with a supplier that holds different points of view from the buyer
4. When a Purchasing professional purchases an item from an unauthorized source it is referred to as:
5.              essentially determines the nature of agreements that are enforceable  and create legal rights between the parties
6.  is  that  level  of  authority  perceived  by  the  seller  to  be  available  to the purchasing manager
7. Freight shipped           means the supplier retains title to the goods and    controls the shipment until it is physically received and off-loaded at the consignee’s dock
8. Motor carriers are characterized by       comparatively            fixed costs
9.    is the continuous measuring of products, services, processes, activities, and practices against a firm’s best competitors or those companies recognized as industry or functional leaders 
10.  All of the following are examples of the future focus on supply chain performance except

ESSAYS (80 points total). Answer A, B, C, and D. Substantial responses are required to earn full credit. Responses should include original, analytical thought as well as support from our text and other professional sources (properly cited). You should consider the essays as opportunities to demonstrate your knowledge of the concepts we are covering in PCMS 626. Each essay is worth 20 points.

A. Discuss the implications of information technology for the Purchasing/Supply Management function. How has IT most helped Purchasing and Supply Management professionals carry out their responsibilities? Are there aspects of IT application that can present problems for them?

Discuss the advantages and disadvantages of long-term contracts. Do you think the advantages outweigh the disadvantages, or vice-versa? Why, and under what circumstances?

Why must procurement professionals be knowledgeable about procurement law? Provide examples (actual or hypothetical) to support your case

What three recent trends (i.e., past 20 years) do you think are the most important for the field of purchasing/supply management? Please explain