Assistance for TLMT 313 AMU quiz 5 Supply chain management American Military University is available at Domyclass
AMU TLMT 313 Quiz 5
Part 1 of 1 – 99.960014 Points
Question 1 of 12
Supply managers need to possess and utilize knowledge of legal issues and considerations. Such knowledge must be coupled with the wisdom to communicate and interact with legal professionals and suppliers proactively in efforts to develop and maintain relationships between supply chain members that minimize conflict and maximize opportunities for collaborative success.
Question 2 of 12
The most powerful tool a supply professional has to avoid legal problems is skill in selecting sound, reliable suppliers.
Question 3 of 12
As a project manager, we need to know the critical path to identify the tasks we should focus our efforts on controlling.
Question 4 of 12
A typical cost ratio is calculated by dividing the total dollar purchase from that supplier by the sum of the cost and the total dollar purchase
Question 5 of 12
Which of the following is not one of the reasons why most business firms utilize litigation only as a last resort?
A.Litigation creates a public relations problem
B.Contractual disputes are usually resolved more effectively using negotiation
C.A lawsuit almost always alienates a good supplier
D.The outcome of any court case is usually uncertain
E.Litigation is expensive
Question 6 of 12
Which of the following is not true about the status of an agent?
A.Agent – a person who, by express or implied agreement, is authorized to act for someone else in business dealings with a third party
B.A “purchasing agent” is not a legal party to his or hers business transactions, but rather serves as an intermediary.
C.Law requires the agent to be loyal to the employer
D.Law permits the employer to hold its purchasing agent(s) personally liable for any secret advantages
E.An agent represents the firm in personal dealings, as well as official
Question 7 of 12
Several changes in business have increased the need for better contract management. Which of the following is not one of those changes?
A.Collaboration is continuing to become more important
B.Large inventories are available
C.Quality is expected
D.Deliveries are expected to be on time, not early or late
E.Schedules must be integrated and maintained
Question 8 of 12
Which of the following is not a key law or regulation that impacts supply management in the USA?
A.Uniform Commercial Code
B.The Clinton Act
C.The Clayton Act
D.The Robinson-Patman Act
E.The Federal Trade Commission Act
Question 9 of 12
The following list provides ethics guidelines for firms that are using competitive bidding. Which point does not belong in the list?
A.Invite only firms to whom they are willing to award a contract to submit bids
B.Normally, award the contract to the lowest responsive, responsible bidder
C.Keep competitive price information confidential
D.Notify unsuccessful bidders promptly so that they may reallocate reserved production
E.The buyer may “shop” for low prices without telling the potential suppliers
Question 10 of 12
Which of the following is not part of The Four Way Test?
A.Is it the TRUTH?
B.Is it FAIR to all concerned?
C.Will it return a high ROI?
D.Will it build GOODWILL?
E.Will it be BENEFICIAL to all concerned?
Question 11 of 12
Supply professionals should know and obey the letter and spirit of laws governing the supply management function, and remain alert to the legal ramifications of supply management decisions.
Question 12 of 12
Sharp Practices are evasive and indirect misrepresentations that are just short of actual fraud.