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June 6, 2020
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(Solved) : 1 9 True False Questions Terms Procurement Purchasing Used Interchangeably 1 2 Portfolio Q46243242 . . .

No No. 1-9 are True/False Questions The terms procurement and purchasing are used interchangeably. 1 2 In the portfolio model

all are true and false questions

No No. 1-9 are True/False Questions The terms procurement and purchasing are used interchangeably. 1 2 In the portfolio model, depending on the sourcing strategy, an item is assigned to a particular quadrant. 4 For a computer manufacturer, items like the processor, which has only a few qualified suppliers, will be classified in the bottleneck quadrant. The spend on any item that supports the operation of the firm is categorized within the direct spend category. The first step in the supplier management process is to select the supplier. The 6 A complex specification for the product being procured is called the scope of work. The document which contains the specifications of what is needed and details the information that must be submitted by a supplier is known as supplier self- assessment Cross-functional teams are an integral part of the supplier development process 8 9 Logistics is often defined as the activities that deal with the physical aspects of the movement of goods. Logistics provides place and form utility. 10 11 Trading speed of delivery with saving fuel is known as a cost-to-service trade-off. 12 Derived demand is actual customer demand that logisticians should consider for fulfillment.

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