The authority to review and challenge specifications (for products or for services) is within purchasing's span of control in managing demand, although internal stakeholders sometimes dispute this right.
a. True
b. False
Indicate whether the statement is true or false
Question 2How does demand for products and services change between a business's high season and its off-season?
Question 3Purchasing can directly affect (positively or negatively) the long-term growth, revenue, and operating outcomes and plans of stakeholders and business units.
a. True
b. False
Indicate whether the statement is true or false
Question 4What is inflation and what economic condition is caused by inflation?
Question 5If a supplier's components are defective and causing problems for manufacturing, then purchasing must find ways to improve supplier quality.
a. True
b. False
Indicate whether the statement is true or false
Question 6How is consumer demand affected by price?
Question 7Organizations are constantly looking for people who have developed the skills necessary to deal with the narrow variety of tasks faced by purchasing.
a. True
b. False
Indicate whether the statement is true or false
Question 8__________ prices may be used when a company is willing to take a loss on the reduced prices of selected items in order to create more customer traffic.
Fill in the blank(s) with correct word
Question 9The objectives of a world-class purchasing organization do not need to evolve beyond the traditional mantra of ensuring we get a good price
a. True
b. False
Indicate whether the statement is true or false
Question 10__________ are the costs associated with running a business.
Fill in the blank(s) with correct word
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