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Why should the buying organization require the supplier to carry out acceptance testing?
Why should the buying organization require the supplier to carry out acceptance testing?A . To get the approval from the senior managementB . To check whether the product matches the specificationC . To compare between the account payables and account receivablesD . To see whether the supplier engages in unethical...
Which of the following is the core of value analysis process?
Which of the following is the core of value analysis process?A . Be creativeB . DevelopC . EvaluateD . Gather informationE . Carry out functional analysisView AnswerAnswer: E Explanation: Value Analysis (VA) is concerned with existing products. It involves a current product being ana-lysed and evaluated by a team, to...
Which of the following should be a priority action of the company?
GSC Ltd is a manufacturer of car parts. To accommodate growing demands of electric cars, the company is developing a new component which requires different type of steel. The project team estimates that the component will be ready for production in 1.5 years. Until then, they need to keep the...
The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct?
The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct?A . No, in market economy, the state decides the price of all goods and servicesB . Yes, each stage in product life cycle requires different levels of investment in promotion...
Which of the following is the benefit of benchmarking to WAS?
Warwickshire Ambulance Service (WAS) is an NHS Trust. It operates throughout Warwickshire and the neighbouring areas. It has three core areas of activity, namely the provision of Emergency Ambulance Services, routine Patient Transport Services, and Logistic Medical Services. The agency is working towards higher service level through benchmarking. Which of...
Which of the following provides in-depth detail for both functional and non-functional require-ments and covers assumptions, constraints, performance, dimensions, weights and reliability of a product?
Which of the following provides in-depth detail for both functional and non-functional require-ments and covers assumptions, constraints, performance, dimensions, weights and reliability of a product?A . Performance specificationB . ToleranceC . Statement of workD . Design specificationView AnswerAnswer: D Explanation: Design specification is a detailed document providing a list of...
How many products does the company have to sell to achieve break-even point?
Company A sells a product for $100. The total unit variable costs are $60. Fixed costs as in its ac-count are $20,000. How many products does the company have to sell to achieve break-even point?A . 600B . 550C . 400D . 500View AnswerAnswer: D Explanation: Break even point =...
Which internal stakeholders may help Angelica estimate the breakdown of costs?
Thani Ltd is a fast growing logistics company with a fleet of 20 tractors. To meet Net Zero objective, the company needs to electrify its fleet. Angelica is assigned to investigate the market price of electrifying services. After the investigation, she realises that the current market price is very expensive...
Is the procurement manager’s opinion correct?
A procurement manager is writing a conformance specification for a non-core component. She thinks that if the requirements in specification are higher than ISO standards, her company can achieve greater cost-savings. Is the procurement manager’s opinion correct?A . No, because higher specification may incur additional costs for the buyerB ....
Which of the following might be the consequences of under-specification? Select TWO that apply:
Which of the following might be the consequences of under-specification? Select TWO that apply:A . Few suppliers can supply the full range of featuresB . Additional cost to reworkC . Unfit products or servicesD . Poor competition between suppliersE . Higher cost due to inessential featuresView AnswerAnswer: B, C Explanation:...
