
Semi-final Pre-test
Authored by Anj Nodner
Professional Development
1st - 3rd Grade
Used 4+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A type of procurement where product and service materials that require conformity and compliance to standard operating procedure.
centralized
decentralized
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The first step or requirement in selecting suppliers
Identifying the Business' VMGO
Identify the Relevant criteria for Supplier selection
Evaluating and selecting suppliers
Negotiating and contracting with the Selected suppliers
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
This is part of the standard operating procedure where existing and potential suppliers will undergo this selection process.
Evaluating and selecting suppliers
Negotiating and contracting with the Selected suppliers
Evaluating supplier Performance
Identify the Relevant criteria for Supplier selection
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The goods or materials a business intends to sell to customers for profit.
Stock turnover
Inventory
Safety stock
Economic Order Quantity
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The expenses your company incurs to purchase and receive the products it stocks in its inventory.
Inventory
carrying costs
ordering costs
safety stocks
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The total of all expenses related to storing unsold goods.
inventory
lead time
ordering costs
carrying costs
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An extra quantity of a product which is stored in the warehouse to prevent an out-of-stock situation.
safety stock
economic order quantity
stock turnover
reorder point
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