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Strategic Outsourcing in Purchasing and Supply Chain Management MCQ

Total quality management is based on the principle that every employee must be committed to maintaining the lowest standards of work in every aspect of a company’s operations.

True

False

Answer

Correct Answer: False

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The subtract of the actual and potential resources embedded within, available through, and derived from the network generally possessed by an individual or social unit.

True

False

Answer

Correct Answer: False

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The division of work to be performed under a contract or subcontract in the completion of a project, typically broken out into specific tasks with deadlines is known as ?

Reversibility clauses

Risk management

Risk mitigation

Social capital

Answer

Correct Answer: Social capital

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______ Involves a detailed analysis of what can be done to reduce or eliminate the probability and severity of adverse events while also considering the trade-offs involved

Reversibility clauses

Risk management

Risk mitigation

Social capital

Answer

Correct Answer: Risk mitigation

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The identification and evaluation of risks followed by the control of the probability or impact of unfortunate events is called ____.

Reversibility clauses

Risk management

Scope of work

Social capital

Answer

Correct Answer: Risk management

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A reversible decision in an agreement is known as?

Reversibility clauses

Risk management

Scope of work

Social capital

Answer

Correct Answer: Reversibility clauses

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A model view of the company as the primary approach for achieving a competitive disadvantage in a noncompetitive environment.

True

False

Answer

Correct Answer: False

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Occurs in the presence of lowest switching costs, economic advantage, and strategic dependence on a single supplier.

True

Fasle

Answer

Correct Answer: Fasle

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The behavior of relationship motivated by the minimization of economic self-interest and occasioned loss of the other partners.

True

False

Answer

Correct Answer: False

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Determination of the product or service to provide as well as determining the in-house capability for producing the product or service is known as ?

Make-versus-buy

Cost of quality

Incremental savings

None of these

Answer

Correct Answer: Make-versus-buy

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_______Is a created work or invention protected under copyright or patent.

Intellectual property

Cost of quality

Incremental savings

None of these

Answer

Correct Answer: Intellectual property

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A systematic reduction or elimination of the cost of a recurring expense (e.g., paying on a monthly school loan) is known as ?

Core competencies

Cost of quality

Incremental savings

None of these

Answer

Correct Answer: Incremental savings

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Preventative

Appraisal

Internal failure , external failure.

All of these

Answer

Correct Answer: All of these

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The collective learning in an organization is known as ?

Core competencies

Cost of quality

Incremental savings

None of these

Answer

Correct Answer: Core competencies

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Contractual incompleteness is a contract that is incomplete if either its value-sharing scheme or its actions are completely specified.

True

False

Answer

Correct Answer: False

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BPO is hiring other suppliers (providers) to handle general processes.

True

False

Answer

Correct Answer: False

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