Free Access ISM.CPSM.v2023-10-23.q47 Practice Test (Page 6)

Question 21

What refers to the set of electronic tools used by world-class organizations to generate,
process, transfer, interpret and use information?

A.Information technology

B.Information transmittal

C.Information retrieval system

D.Trend technology

Question 22

A solicitation document used to obtain price quotes for a specified product or service is known as:

A.Invitation for bid

B.Cost summons

C.Temptation for bid

D.Price Provocation

Question 23

By using which process, the financial services provider improved an established sourcing process to convey clear expectations to service providers?

A.DMADV (define, measure, analyze, design, verify)

B.DMAIC (define, measure, analyze, improve, control)

C.DMATM (define, manage, analyze, test, maintenance)

D.DMMDV (develop, measure, manage, distribute, maintenance)

Question 24

Which of the following is NOT the component
used to calculate the inventory holding costs?

A.Invested funds

B.Shrinkage

C.Released rates

D.Obsolescence

Question 25

A lean manufacturing technique in which the transformation of materials is traced from beginning to end to determine if there is waste in the process is called:

A.State map technique

B.Fair market value mapping

C.Customized stream mapping

D.Value stream mapping

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