Procurement and Sourcing MCQs in Supply Chain

MCQs on Procurement and Sourcing in Supply Chain

1. What is the primary goal of procurement in supply chain management?
   • a) Reducing employee turnover
   • b) Ensuring timely delivery of goods and services
   • c) Maximizing sales revenue
   • d) Increasing market share
   • Answer: b) Ensuring timely delivery of goods and services
2. Which of the following is NOT a typical function of procurement?
   • a) Negotiating contracts
   • b) Supplier evaluation
   • c) Inventory management
   • d) Market research
   • Answer: c) Inventory management
3. Which of the following terms refers to the practice of obtaining goods and services from an external source?
   • a) Insourcing
   • b) Outsourcing
   • c) Nearshoring
   • d) Onshoring
   • Answer: b) Outsourcing
4. What is a key benefit of strategic sourcing?
   • a) Reduced need for employee training
   • b) Lower long-term costs
   • c) Increased inventory levels
   • d) Decreased supplier communication
   • Answer: b) Lower long-term costs
5. Which procurement method involves competitive bidding to achieve the best price?
   • a) Sole sourcing
   • b) Direct procurement
   • c) Reverse auction
   • d) Spot buying
   • Answer: c) Reverse auction
6. What does the term “lead time” refer to in the context of procurement?
   • a) The time taken to deliver a product to the end customer
   • b) The time between ordering and receiving goods
   • c) The time required to negotiate a supplier contract
   • d) The time taken for a product to reach its maturity stage
   • Answer: b) The time between ordering and receiving goods
7. Which of the following is a major risk associated with global sourcing?
   • a) Increased supplier diversity
   • b) Enhanced quality control
   • c) Longer supply chain lead times
   • d) Lower production costs
   • Answer: c) Longer supply chain lead times
8. In supplier relationship management, what is the primary objective?
   • a) To increase the number of suppliers
   • b) To develop mutually beneficial relationships with suppliers
   • c) To reduce the quality of procured goods
   • d) To focus solely on cost reduction
   • Answer: b) To develop mutually beneficial relationships with suppliers
9. What is the purpose of a Request for Proposal (RFP) in the procurement process?
   • a) To select the lowest bidder
   • b) To gather detailed information from potential suppliers
   • c) To make a final purchasing decision
   • d) To expedite the delivery process
   • Answer: b) To gather detailed information from potential suppliers
10. Which of the following best describes “total cost of ownership” (TCO)?
    • a) The initial purchase price of a product
    • b) The sum of all costs associated with the purchase, use, and maintenance of a product
    • c) The cost of raw materials
    • d) The cost of labor for production
    • Answer: b) The sum of all costs associated with the purchase, use, and maintenance of a product

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