Question 1

A firm hires a new staff member in its warehousing department. As a FIRST step in the training of this employee, the warehouse manager should

Options :

A : verify that the employee knows how to operate the warehouse equipment and tools correctly

B :

demonstrate how to package products in the correct manner, so that the employee can begin with packaging assignments

C :

explain the company-s safety policy and verify that the employee understands all safety-related requirements

D :

show the employee how to separate disposable vs recyclable packaging, to ensure the employee understands environmental compliance requirements

Answer: C

Question 2

A firm needs to provide raw materials to accommodate a recent increase in manufacturing production. The supply manager uses the material forecast from the material requirements planning (MRP) software and the storage capacity from the warehouse management system (WMS) to forecast the firm's requirements. Which of the following will impact this forecast MOST significantly?

Options :

A : Validation of data by supply management

B : The type of planning system used

C : The interface between the MRP software and the WMS

D : Accounting for storage of works in progress

Answer: C

Question 3

Which of the following describes a market structure where there are few sellers and many buyers and where price is controlled by either an industry leader or a cartel?

Options :

A : Monopsony

B : Perfect competition

C : Monopoly

D : Oligopoly

Answer: D

Question 4

XYZ, Inc. notices that one of its suppliers has been failing to achieve on-time delivery, even though XYZ sends it a 6-month projected order forecast every month. The supplier claims that it takes nine months to receive important raw materials, and that this causes the poor delivery performance. Nevertheless, XYZ must continue purchasing from this supplier, as it is a sole supplier. Given this situation, which of following is the BEST course of action for XYZ to take

Options :

A :

Send the 6-month forecast data weekly instead of monthly to the supplier, and request it purchase raw materials based on the projections

B :

Request that the supplier submit an open order report on a weekly basis with details on the latest shipment status

C :

Discuss the issue with engineering to determine if the firm can use different raw materials to manufacture the product

D :

Extend the forecast timeline from six months to one year, and request the supplier purchase raw materials based on the projections

Answer: D

Question 5

A buyer is reviewing a quote for a shipment of electronic materials from Europe to Africa. The supplier offers a reasonable price for the materials and plans to deliver them using its regular shipping service. The terms are such that the buying company takes possession of the goods once they are loaded onto a boat in Europe. Which of the following information should be of GREATEST concern to the buyer?

Options :

A : The risks involved in the shipping terms

B : Whether or not export regulations will be followed

C : The reason for choosing sea transportation over air

D : The details of the proposed Incoterms® 2020 rule

Answer: A

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