1.

When prices are at the peak, it is wise for the buying firm to do all of the following except:

a.

Sign a longer-term contract

b.

Reduce purchase order size

c.

Sign a shorter-term contract

d.

Delay the purchase if possible

2.

Which of the following is not an outcome of supplier research and market analysis?

a.

How the market for that particular product or service operates

b.

How your spending pattern varies over time

c.

Who the most qualified potential suppliers are

d.

What products and services are available in the market

3.

Which of the following is not a supplier measurement decision?

a.

What variables to measure

b.

How to measure the relevant variables

c.

What resources will be required to collect the information

d.

What did the business spend its money on over the last year

4.

Which of the following is not a supply management responsibility?

a.

Supplier performance measurement and improvement

b.

Supplier identification and selection

c.

Supply market research

d.

Providing material requisitions to buyers

e.

Negotiation and contracting