Purchasing Vocabulary Quiz

What is the ABC method based on?

• Decreasing use

• Increasing use

• Random use

• Equal use

What does Added value refer to?

• Value given by the company to goods and services

• Value given by the buyer to the company

• Value given by the government to the company

• Value given by the company to the government

What does AOM track in the order life cycle management?

• Order entry, inventory management, delivery and post-sale service

• Order entry, inventory management, delivery and aftermarket service

• Order entry, inventory management, delivery and pre-sale service

• Order entry, inventory management, delivery and customer service

What does Benchmark involve?

• Analysing bad practices among competitors

• Analysing good practices among competitors

• Analysing all practices among competitors

• Analysing random practices among competitors

What is Bidding on Line (BOL) related to?

• Specific sale taking place on TV

• Specific sale taking place in physical stores

• Specific sale taking place on the Internet

• Specific sale taking place on radio

What does Bill Of Material (BOM) list?

• Workpieces to be stored

• Workpieces to be discarded

• Workpieces already processed

• Workpieces to be processed

What does Bullish indicate?

• Increase in income is higher than the increase in prices

• Increase in income is lower than the increase in prices

• No increase in income or prices

• Increase in income is equal to the increase in prices

What is Call for tenders (CFT) procedure for?

• Selecting the least expensive offer

• Selecting the least cost-effective offer

• Selecting the most expensive offer

• Selecting the most cost-effective offer

What does CRM strategy involve?

• Managing relationships with current and potential customers

• Managing relationships with current customers only

• Managing relationships with potential customers only

• Not managing relationships with any customers

What does DIFOT measure?

• Number of orders delivered with incorrect quantity

• Number of orders delivered on time to the purchaser

• Number of orders delivered late to the purchaser

• Number of orders delivered with incorrect products