1. The terms purchasing and procurement should not be seen as synonymous. As such, which of the following statements do you think has greatest validity ________

1. Purchasing has a broader meaning than procurement
2. Procurement has a broader meaning than purchasing
3. Procurement is broadly equivalent to purchasing
4. None of the above

2. Which of the following is not an area of responsibility for a logistics manager ________

1. Inventory
2. Purchasing
3. Marketing
4. Transporting

3. Which of the following is NOT a reason that companies are depending more on their suppliers ________________

1. More focus on core competencies
2. Need for more flexibilities
3. More control over their suppliers
4. Desire to share risks

4. The purpose of supply chain management is_________________________

1. Provide customer satisfaction
2. Improve quality of a product
3. Integrating supply and demand management
4. Increase production

5. A supply chain is made up of a series of processes that involve an input, a _______, and an output.

1. Shipment
2. Supplier
3. Customer
4. Transformation

6. Which of the following is NOT a factor affecting the supply chain _________________

1. Reduced number of suppliers
2. Increased competition
3. Longer product life cycles
4. Increased opportunities to strategically use technology

7. VMI stands for _________________

1. Vendor material inventory
2. Vendor managed inventory
3. Variable material inventory
4. Valuable material inventory

8. Reverse logistics is required because _____________

1. Goods are defective
2. Goods are unsold
3. The customer simply changed their minds
4. All of above

9. _________________________________________ is defined as the activities associated with the flow and transformation of goods from the raw materials stage, through to end users (customers) , as well as the associated information inflows.

1. Supply Chain Management
2. Entities
3. Components
4. Logistics Management

10. To identify the most effective ways to assure customer satisfaction _______________

1. Globalization
2. Technology
3. Customer Expectations
4. Product Development