Supplier Selection Quiz

What is the first stage in the supplier selection process?

• Evaluating supplier risks

• Recognizing the need for supplier selection

• Developing an exit strategy

• Conducting supplier audits

Which of the following is a key factor in supplier selection?

• Market reputation

• Number of employees

• Company color scheme

• Political affiliation

True or False: The supplier selection process is a one-time activity.

• True

• False

What is the benefit of using supplier evaluation criteria?

• Ensures the best supplier is selected

• Limits competition

• Reduces the need for contract management

• Prevents supplier innovation

What is an important sourcing requirement in procurement?

• Cost savings

• Quality standards

• Delivery performance

• All of the above

True or False: Ethical considerations are irrelevant in supplier selection.

• True

• False

Which of the following is a method for identifying potential suppliers?

• Trade journals

• Customer complaints

• Employee surveys

• Internal office meetings

What is a major risk when selecting a supplier?

• Supply chain disruption

• Having too many suppliers

• Paying suppliers early

• Limiting supplier contracts

True or False: A supplier must always be selected from the local market.

• True

• False

Why do companies consider supplier diversity?

• To support ethical sourcing

• To reduce competition

• To limit supplier choice

• To decrease costs