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E-Procurement and Systems Contracting in Purchasing and Supply Chain Management MCQ

1. The TCO purchase price of a product and what is transportation cost?

Plus indirect handling

Inspection, quality

Rework, maintenance

All of these

Answer

Correct Answer: All of these

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2. _______ is a stockless inventory method for ordering and stocking MRO and related items.

Systems contracting

Sales agreement

Standard agreements

Umbrella contract

Answer

Correct Answer: Systems contracting

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3. Reverse auction is an online, declining-price auction between one buying man and a group of prequalified suppliers. The bidding process is not real time. In most cases, the supplier with the lowest total cost bid is awarded the contract.

True

False

Answer

Correct Answer: False

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4. A RFID universal term given to any technology that does not use radio waves to identify and track items.

True

False

Answer

Correct Answer: False

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5. Buying goods and services for use by the buying organization is known as ?

Purchasing process

Acquisition process

process of buying

None of these

Answer

Correct Answer: Purchasing process

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6. A Profit center is a business unit that uses resources to generate revenues.

True

False

Answer

Correct Answer: True

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7. A ORM is a category of direct selling used for the basic operating needs of a business (e.g., office equipment, travel services, and janitorial supplies).

True

False

Answer

Correct Answer: False

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8. MRO is a category of direct purchasing used for minor maintenance of equipment and sale of manufacturing equipment.

True

False

Answer

Correct Answer: False

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9. The ________ process through which the system becomes incorporated as an ongoing part of organizational activities.

Institutionalization

Discharge

Emancipation

Freedom

Answer

Correct Answer: Institutionalization

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10. A specialized software system used to communicate with vendors is known as?

Electronic data interchange

E-procurement

Institutionalization

None of these

Answer

Correct Answer: E-procurement

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11. ______ is the direct computer transmission of orders and other transaction information in a specific standardized format.

Electronic data interchange

E-procurement

Institutionalization

None of these

Answer

Correct Answer: Electronic data interchange

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12. Buying mean that ?

Procuring items for resale.

Shrewd purchasing requires considerable knowledge

Not permitting

Both a and b

Answer

Correct Answer: Both a and b

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