Online Access Free L6M9 Practice Test

XYZ Ltd is a manufacturing organisation that buys raw materials from ABC Ltd, including rare materials such as rubies and gold. XYZ Ltd acceptsallorders from ABC Ltd as the materials are rare, making the relationshipone-sided. Which type of network best describes this relationship?

• A.Centralised
• B.Symmetric
• C.Asymmetric
• D.Proprietary

Which of the following aretypical objectives of Linear Programming (LP)?Select ALL that apply.

• A.Maximising labour working hours
• B.Maximising transportation costs
• C.Minimising production costs
• D.Maximising machine working hours
• E.Minimising inventory levels

Which of the following describes aProprietary Network?

• A.A privately owned and controlled group
• B.A network that has both horizontal and vertical structures
• C.The sharing of materials in an informal setting
• D.A relationship that is one-sided

Which of the following arecontract pricing arrangementsused to control costs?Select ALL that apply.

• A.Variable price
• B.Fixed price
• C.Use of price index
• D.Open book
• E.Gain-share agreement

Liedtka (1998) describesfive attributesnecessary for aprocurement professionalto developstrategic thinking. What are these?

• A.Thinking in time
• B.Risk awareness
• C.Intelligent optimism
• D.Intent focused
• E.Hypothesis driven
• F.Systems perspective