Chapter 12

Question 1

Each item is assigned a _____ _____ based on its sales rate

Answer 1

Reorder point (ROP) analysis

Question 2

Technique for RANKING ITEMS in a group based on the value, activity, sales, or other relevant metric

Answer 2

ABC analysis

Question 3

Contains a record of each vendor approved for use by the organization

Answer 3

Vendor master data

Question 4

Compiles data on all purchase requisitions

Answer 4

Purchase requisition data score

Question 5

In interacting structure of people, equipment, activities, and consoles there is designed to accomplish the following:…

Answer 5

Purchasing process

Question 6

Purchase to pay process

Answer 6

1. Requirements determination
2. Purchase order processing
3. Goods receipt
4. Invoice verification
5. Payments processing

Question 7

The purchasing process is closely linked to functions and processes ______ and _______ the organization

Answer 7

Inside and outside

Question 8

The ______ _______ usually performs major buying activities and the required administrative duties of running a department

Answer 8

Purchasing manager

Question 9

The _______ ________ is responsible for receiving incoming goods, signing the bill of lading, reporting the receipt of goods to the appropriate warehouse or department

Answer 9

Receiving supervisor

Question 10

Connections with the suppliers of merchandise and raw materials through to an organizations customers

Answer 10

Supply chain