1. What term refers to the development and management of supplier relationships to acquire goods and services in a way that helps achieve the needs of a business?
A. Lean procurement
B. Strategic sourcing
C. JIT sourcing
D. Vendor networks
E. Third-party logistics
2. What is the term used for a company moving management of the complete cycle of material flow to an outside provider?
A. Logistics outsourcing
B. Vendor-managed inventory
C. Contract material management
D. Contract distribution
E. Supply chain management
3. What three main categories of costs are considered in figuring the total cost of ownership? (Select all that apply.)
A. Acquisition costs
B. Ownership costs
C. Post-ownership costs
D. Marketing costs
E. Overhead costs
4. Which supply chain efficiency measure is more appropriate when the majority of inventory is held in distribution channels?
A. Distribution channel balance
B. Total cost of ownership
C. nventory turnover
D. Weeks of supply
E. Supply chain productivity
5. Logistics accounts for about what percent of the U.S. gross domestic product?
A. About 5 percent
B. About 8-9 percent
C. About 2-3 percent
D. About 19-20 percent
E. About 12 percent
6. What mode of transportation is involved in the movement of the greatest number of products?
A. Air
B. Highway (truck)
C. Rail
D. Waterway (ship)
E. Pipelines
7. What mode of transportation is limited to specialized products such as liquids and gases?
A. Highway (truck)
B. Air
C. Waterway (ship)
D. Pipelines
E. Rail
8. What term refers to the development and management of supplier relationships to acquire goods and services in a way that helps achieve the needs of a business?
A. Lean procurement
B. Strategic sourcing
C. JIT sourcing
D. Vendor networks
E. Third-party logistics
9. What is the term used for a company moving management of the complete cycle of material flow to an outside provider?
A. Logistics outsourcing
B. Vendor-managed inventory
C. Contract material management
D. Contract distribution
E. Supply chain management