Which of the following statements are true regarding corporate strategy?
I. A business needs to complete the strategy development once.
II. It is a dynamic, ongoing process which changes with the business.
III. Corporate objectives are developed by functional area in the company.

To eliminate waste, purchase orders can be replaced with

A company that uses a supply chain partner for warehouse a delivery service is using a

The purchasing/supplier partnership concept is supported by

A company has been a preferred supplier for a number of years for several parts, which of the following information is of most importance on a purchase order?

A company operates a strict pull system with their suppliers with shipments every 2, 4 and 8 hours. A 3rd party logistics supplier manages all incoming and outgoing shipments. Which of the following delivery performance measures is most likely to incorporate a tolerance to allow for uncontrolled conditions?

A primary reason for using an alternative means of transportation when a part is late is

2 suppliers for a new part have responded to a request for quote based on annual usage projection. The buyer is evaluating the suppliers on total cost criteria. With all things generally equal otherwise, which of the following reasons best explains why total cost is higher for one supplier?

The design of a product is improved by which of the following factors?
1. Identification of process similarities;
2. Evaluation of standard part attributes;
3. Input from the supplier;

A technique useful for businesses to become virtual supply chains in order to reduce costs and improve due-date performance is

An action that most limits the effect of changes on a supplier is