Question 1 1 points focus on achieving standardization of components, systems, and services and application of currently used purchased items or the use of industry-standard versus unique items. O First insight measures Standardization measures Responsiveness measures Cycle time reduction measures All of these choices. Question 2 1 points Save Ans In the article presented by Team 8 on Indirect Spend, several internal control strategies to manage spend were discussed, which of the following is not one of those strategies? Increased procurement competence of other functions Control of procurement design and specification and procurement Control by procurement function of design and specification Development of long-term supply relationships Increased procurement competence of procurement function Question 3 4 points Save Answer Consider the following: Annual fixed costs of $4,250,000, Variable costs of $15,000,000, the unit selling price is $85.00 and the contribution margin percentage is 20%, what is the weekly required breakeven dollar amount (allow for rounding) $ 226,471 $ 370,192 $ 408,654 $ 1,033,654 None of these choices. Question 4 The process to ensure purchases are made in accordance with company policies, budgets, and contract agreements is called: Supplier control management Compliance management Internal management Contract management Document management Question 5 1 points Save Answer Considering the many financial ratios discussed during class, each ratio was given an interpretation. Which one of the following ratio terms best fits the interpretation statement 'Too high means the supplier may be unable to pay its bills' Return on equity Current debt-to-equity Days payable outstanding Quick ratio Interest coverage