Bus 5023 Chapter 05 Sourcing Materials And Services

This study source was downloaded by 100000802832151 from CourseHero.com on 11-10-2022 02:16:25 GMT -06:00https://www.coursehero.com/file/122637259/Chapter-05-Sourcing-Materials-and-Servicesdocx/ Chapter 05 - Sourcing Materials and ServicesSourcing Materials and Services1. Procurement serves as a critical link between members of the supply chain. a. True b. FalseANSWER: True2. Distinctives are low-risk, high-value items that are fundamental to the company's finished product. a. True b. FalseANSWER: False3. Strategic sourcing is almost the same as procurement. a. True b. FalseANSWER: False4. There are seven steps in the Strategic Sourcing Process. a. True b. FalseANSWER: True5. When a firm makes a "make" decision when analyzing whether to "make or buy," they may still have to purchase some types of inputs from outside suppliers. a. True b. FalseANSWER: True6. The first step in the Managing Strategic Sourcing Process is to develop a strategic plan, which includes forming a planning committee with key stakeholders. a. True b. FalseANSWER: True7. The most important factor in supplier selection is usually financial health. a. True b. FalseANSWER: False8. Some firms are moving towards increasing their number of suppliers in order to encourage competition and lower procurement costs. a. True b. FalseANSWER: False9. Data management and analytics for tracking part numbers and supplier information are essential