SSC Mock Test 1

To reduce inventory management costs, many companies use a system called ________, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation.

supply chain management

reduction-inventory management

economic order quantity

just-in-time logistics

Correct! Wrong!

Six Sigma can BEST be described as:

A management function that includes establishing specifications that can be met, using suppliers that can provide adequate quality and developing the means to measure quality.

A quality management program with a goal of less than 3.4 defects per million parts and an outstanding commitment to quality.

Standards and guidelines primarily concerned with quality management or what the organization does to fulfill the customer’s quality requirements.

A system of strategically placed quality inspection steps to ensure discrepant parts are not passed on to the next operation.

Correct! Wrong!

Fulfillment of an immediate need, typically of a commoditized item for which it is less important to know the credibility of the supplier is an example of

Systematic sourcing

E-procurement

Spot sourcing

MRO sourcing

Correct! Wrong!

Which of the following is traditionally the MOST common form of payment for international business-to-business transactions?

Net 30 via check

Letter of credit

Prepayment via wire transfer

Procurement card or credit card

Correct! Wrong!

A supply chain is essentially a sequence of linked:

warehousing and wholesaling units

suppliers and customers

customer and prospects

supplier and manufacturer

Correct! Wrong!

Organizations less familiar with the discipline of project management usually begin by creating task forces or committees within each role to tackle the problem, known as:

Procedural structure

Performance management

Functional Structure

Procurement Manager

Correct! Wrong!

The major decision areas in supply chain management are _______________________________________________.

location, production, scheduling, inventory

planning, production, distribution, inventory

location, production, distribution, inventory

location, production, distribution, marketing

Correct! Wrong!

The term most often used to refer to the role of logistics in product returns, source reduction, recycling, materials substitution, reuse of materials, waster disposal, and refurbishing, repair and remanufacturing is known as _____________________________.

None of the above

Reverse Logistic

Multichannel logistic

Switch state art logistic

Correct! Wrong!

Supply management is involved in projects at the planning stage through source solicitation planning and selection.

FALSE

TRUE

Correct! Wrong!

Contract statement of work is the output of which process group?

Closing

Monitoring

Organizing

Planning

Correct! Wrong!

The amount of inventory kept at each stock point in a warehouse network is usually based on:

Constant demand

Minimizing transportation costs

Tradeoffs between warehousing, inventory, and transportation costs

Product pricing strategy

Correct! Wrong!

A solicitation document used to obtain price quotes for a specified product or service is known as:

Cost summons

Temptation for bid

Invitation for Bid

Correct! Wrong!

Which of the following is NOT the type of statement of work (SOW)?

Level of effort Sow

Design SOW

Project SOW

Performance SOW

Correct! Wrong!

Which of the following is true for supply chain management?

Flow of cash backwards through the chain

All of the above

Exchange of information moves in both the direction

The physical material moves in the direction of the end of chain

Correct! Wrong!

The demand forecast for all products and services then is used to create a________________, which breaks down all labor and material requirements, usually by quarter.

Top- down strategy

Aggregate Plan

Scheduling forecast

Aggregate Forecast

Correct! Wrong!

When using the FOB delivery clause, which of the following responsibilities and rights are true?

Buyers take costs and responsibility quite literally from the factory gate.

Seller has to deliver the goods in the importer’s country at a named place.

Buyer takes on the risks of loss or deterioration of goods or the costs caused by transit.

Seller is responsible for all costs and responsibilities for goods until they are put on board a ship or aircraft.

Seller transfers the goods to the buyer before the goods actually gone over the side of the ship.

Correct! Wrong!

The inventory reporting measures format is typically presented in which of the following way?

Inventory turn over ratio

Average aggregate Inventory

Week supply

All the above

Correct! Wrong!

Which of the following is the MOST effective method for negotiating with the sole supplier of a unique item?

Adversarial negotiations

Price analysis negotiations

Price comparison negotiations

Cost analysis negotiation

Correct! Wrong!

A supply management professional requested proposals from four suppliers. Before any proposal was received, the project engineering department changed the project scope, which resulted in a change of specifications. What should the supply professional do FIRST?

Ensure that the process is properly documented by writing a letter to each supplier advising of a change in specification, advising how long it would take for the suppliers to receive new specifications, and asking each supplier to respond immediately if additional time would be required to respond.

Call an interim pre-bid meeting to discuss and clarify new specifications.

Call and email each supplier to advise of a change in specification, advising how long it would take for the suppliers to receive new specifications, and asking each supplier to respond immediately if additional time would be required to respond.

Ensure that all involved clearly understand the project by preparing and distributing another complete request for proposal (RFP) package to each supplier

Correct! Wrong!

An intermediary who brings the buyer and the seller together is the:

Broker

Consolidator

Public surplus

Dealer

Correct! Wrong!

According to the supply management, one of the most useful ways to develop______________ is, to begin with, an inventory report listing all items in descending order of dollar spent.

Top down classification

Slope classification

ABC classification

Gradient classification

Correct! Wrong!

Which of the following is NOT the type of budget that the supply management budget includes?

Capital budget

Maintenance budget

Expense budget

Purchase material

Correct! Wrong!

The terms purchasing and procurement should not be seen as synonymous. As such, which of the following statements do you think has the greatest validity?

Procurement has broader meaning than Purchasing

None of the above

Purchasing has a broader meaning than procurement

Procurement is broadly equivalent to purchasing

Correct! Wrong!

Due to the small changes in customer demands, inventory oscillations become progressively larger looking through the supply chain. This is known as __________________.

Netchain analysis

Reverse supply chain

Bullwhip effect

Reverse logistics

Correct! Wrong!

A Supply Chain includes the chain of entities involved in the planning, procurement, production, and _____________ of products and services.

Demand

Distribution

Transport

Supply

Correct! Wrong!

Which of the following refers to the forecasting method that utilizes opinions gathered from people?

SWOT (Strengths, weaknesses, opportunities, threats)

Delphi technique

Monte Carlo simulation

Spend analysis

Correct! Wrong!

A physical stock checking system in which the inventory is divided into groups that are physically counted at predetermined intervals is called:

Cycle counting

All the above

Continuous Inventory check

Inventory turn around ratio

Correct! Wrong!

"Quality is defined by the customer" is:

A user-based definition of quality

A product-based definition of quality

An unrealistic definition of quality

A manufacturing-based definition of quality

Correct! Wrong!

The purpose of supply chain management is

improve quality of a product

provide customer satisfaction

increase production

integrating supply and demand management

Correct! Wrong!

Incoterms can BEST be described as a uniform set of rules:

To clarify the costs, risk and obligations of supply managers and suppliers in international commercial transactions.

In which negotiations are standardized in international commerce.

In which examples of bribery and other corrupt practices are defined and delineated

In which items that are restricted from international trade are determined.

Correct! Wrong!

SOURCING AND SUPPLY CHAIN

WE EMPOWER SCM COMMUNITY

SSC Mock Test 1

To reduce inventory management costs, many companies use a system called ________, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation.

Six Sigma can BEST be described as:

Fulfillment of an immediate need, typically of a commoditized item for which it is less important to know the credibility of the supplier is an example of

Which of the following is traditionally the MOST common form of payment for international business-to-business transactions?

A supply chain is essentially a sequence of linked:

Organizations less familiar with the discipline of project management usually begin by creating task forces or committees within each role to tackle the problem, known as:

The major decision areas in supply chain management are _______________________________________________.

The term most often used to refer to the role of logistics in product returns, source reduction, recycling, materials substitution, reuse of materials, waster disposal, and refurbishing, repair and remanufacturing is known as _____________________________.

Supply management is involved in projects at the planning stage through source solicitation planning and selection.

Contract statement of work is the output of which process group?

The amount of inventory kept at each stock point in a warehouse network is usually based on:

A solicitation document used to obtain price quotes for a specified product or service is known as:

Which of the following is NOT the type of statement of work (SOW)?

Which of the following is true for supply chain management?

The demand forecast for all products and services then is used to create a________________, which breaks down all labor and material requirements, usually by quarter.

When using the FOB delivery clause, which of the following responsibilities and rights are true?

The inventory reporting measures format is typically presented in which of the following way?

Which of the following is the MOST effective method for negotiating with the sole supplier of a unique item?

A supply management professional requested proposals from four suppliers. Before any proposal was received, the project engineering department changed the project scope, which resulted in a change of specifications. What should the supply professional do FIRST?

An intermediary who brings the buyer and the seller together is the:

According to the supply management, one of the most useful ways to develop______________ is, to begin with, an inventory report listing all items in descending order of dollar spent.

Which of the following is NOT the type of budget that the supply management budget includes?

The terms purchasing and procurement should not be seen as synonymous. As such, which of the following statements do you think has the greatest validity?

Due to the small changes in customer demands, inventory oscillations become progressively larger looking through the supply chain. This is known as __________________.

A Supply Chain includes the chain of entities involved in the planning, procurement, production, and _____________ of products and services.

Which of the following refers to the forecasting method that utilizes opinions gathered from people?

A physical stock checking system in which the inventory is divided into groups that are physically counted at predetermined intervals is called:

"Quality is defined by the customer" is:

The purpose of supply chain management is

Incoterms can BEST be described as a uniform set of rules:

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To reduce inventory management costs, many companies use a system called ________, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation.

Six Sigma can BEST be described as:

Fulfillment of an immediate need, typically of a commoditized item for which it is less important to know the credibility of the supplier is an example of

Which of the following is traditionally the MOST common form of payment for international business-to-business transactions?

A supply chain is essentially a sequence of linked:

Organizations less familiar with the discipline of project management usually begin by creating task forces or committees within each role to tackle the problem, known as:

The major decision areas in supply chain management are _______________________________________________.

The term most often used to refer to the role of logistics in product returns, source reduction, recycling, materials substitution, reuse of materials, waster disposal, and refurbishing, repair and remanufacturing is known as _____________________________.

Supply management is involved in projects at the planning stage through source solicitation planning and selection.

Contract statement of work is the output of which process group?

The amount of inventory kept at each stock point in a warehouse network is usually based on:

A solicitation document used to obtain price quotes for a specified product or service is known as:

Which of the following is NOT the type of statement of work (SOW)?

Which of the following is true for supply chain management?

The demand forecast for all products and services then is used to create a________________, which breaks down all labor and material requirements, usually by quarter.

When using the FOB delivery clause, which of the following responsibilities and rights are true?

The inventory reporting measures format is typically presented in which of the following way?

Which of the following is the MOST effective method for negotiating with the sole supplier of a unique item?

A supply management professional requested proposals from four suppliers. Before any proposal was received, the project engineering department changed the project scope, which resulted in a change of specifications. What should the supply professional do FIRST?

An intermediary who brings the buyer and the seller together is the:

According to the supply management, one of the most useful ways to develop______________ is, to begin with, an inventory report listing all items in descending order of dollar spent.

Which of the following is NOT the type of budget that the supply management budget includes?

The terms purchasing and procurement should not be seen as synonymous. As such, which of the following statements do you think has the greatest validity?

Due to the small changes in customer demands, inventory oscillations become progressively larger looking through the supply chain. This is known as __________________.

A Supply Chain includes the chain of entities involved in the planning, procurement, production, and _____________ of products and services.

Which of the following refers to the forecasting method that utilizes opinions gathered from people?

A physical stock checking system in which the inventory is divided into groups that are physically counted at predetermined intervals is called:

"Quality is defined by the customer" is:

The purpose of supply chain management is

Incoterms can BEST be described as a uniform set of rules:

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Author: Chirag Kalaria

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