Section $1$ Matching$-$ Select the letter that best fits the procurement process. $50$ points

Letter

Actions

Choices

$$

Specialized production can be a case for buyers to XXXX

A$-$Outsourcing

$$

Cross functional interactive process to improve communication and planning across an organization

B$-$ Buying Exchanges$/$consortium

$$

Government contractors use XXXX to build parts

C$-$Balance sheet

A

A US company uses a Canadian candy maker to produce their finished goods

D$-$ Total cost of ownership

$$

Buyers can use a XXXX strategy when obtaining pricing for materials that are single sourced

E$-$ Reverse Auction

$$

A buyer saves $5\%$ on a raw material cost and results in increase in assets. This impact supports the model?

F$-$manage cost

$$

The XXXX process should be used when Supply and demand drive pricing

G$-$ Standard price list

$$

Increased management costs can be a result of XXXXX

H$-$ Centralized organization

$$

A XXXX model should be used when purchasing equipment

I$-$Indirect

$$

A buyer reviews a quotation from a supplier. The buyer reviews the labor charges to understand their efficiency

J$-$Statement of Work

$$

A buyer performs the following process to gain better understanding of their portfolio

K$-$Single Source

$$

Buyers coordinate with other companies to pool volume for discounts

L$-$Transactional

$$

Buyers perform an internal exercise to estimate the cost of an item.

M$-$ subcontracting

$$

The lease$/$or rent is considered XXXXX cost

N$-$ Nearshoring

$$

Managerial salaries are considered xXXX costs

O$-$Fixed

$$

Excessive $$inventories can lead to reduced XXXXX

P$-$Return on Asset

$$

Buyers role in new product development is XXXXX

Q$-$Sales and Operations planning

$$

Buyers may use XXXX to obtain prices for standard items

R$-$Market pricing

$$

A XXXXX company can benefit from consolidating large volume of purchases

S$-$negotiation

$$

A finance manager may notice a large decrease in inventory on the $???$

T$-$ABC Analysis

$$

Procurement utilizes XXXXX $$to consolidate purchases to minimize tactical purchase orders

U$-$direct

$$

Raw materials are considered XXX costs

V$-$Cash Flow

$$

A document buyers user to assist in evaluating service suppliers

W$-$ learning curve

$$

Buyers can use a XXXXX to quickly obtain pricing from several suppliers

X $$ Should Cost

$$

A buyer with a portfolio of high volume low cost establishes XXXX$$ relationship with suppliers

Y$-$Blanket orders

$$

$$

$$