Developing strategic purchasing practices can help a company maintain its competitive position in a rapidly changing business environment.Question 13Select one:TrueFalse

Good of choice of strategic posture is not important except for ___?Question 1Answera.managing the success of the business enterpriseb.sustainance of the business idealsc.enhancing profit drivesd.enhancing the fortunes of the business

Strategic management process is the coordinated means by which an organization chooses its mission and vision.Question 4Select one:TrueFalse

The key question in strategic supply management isMultiple ChoiceHow can supply and supply chains contribute effectively to organizational objectives and strategy?How can the supply manager develop a network of suppliers that contribute to the supply department’s goals?How can first-tier suppliers contribute to the buying organization's objectives and strategy?How can key suppliers contribute to the buying organization's objectives and strategy?How can supply strategy be kept separate from, but equal to, organizational strategy?

Marcus wants to improve his procurement with strategic sourcing, and has hired you as a supply chain consultant. Which is a benefit of strategic sourcing?Strategic sourcing reveals ways to reduce material costs.Strategic sourcing reduces quality.Strategic sourcing weakens relationships with suppliers.Strategic sourcing reduces responsiveness.

Managers must chart a company’s strategic course byMultiple Choiceensuring excess production capacity and/or inventory.building a bigger dealer network.ensuring that marketing and promotion programs are state-of-the-art.developing a thorough understanding of the company’s external and internal environments.competing fiercely for a share in the market.