100. Terms such as purchasing, procurement, supply, supply chain and logistics d
ID: 367578 • Letter: 1
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100. Terms such as purchasing, procurement, supply, supply chain and logistics do not have standard definitions that are widely used across sectors and industries True 2. False 101. Supply management has evolved from a transaction-based, tactical function to a process-oriented, strategic function 1. True 2. False 102. Since labour and other costs greatly exceed outlays for purchased materials and services in most organisations, supply is of little consequence 1. True 2. False 103. A single source supplier may hold the buyer hostage by unduly raising prices or becoming too complacent, particularly when there are higher switching costs 1. True 2. False 104. Until relatively recently (i.e. the past 20 years or so) it would be generally true that purchasing was not viewed as a profit contributor in most organisations 1. True 2. False 105. The major reason for limiting the number of suppliers in the supplier selection and evaluation model is that the resources available to the purchaser for this activity are limited to the department's resources 1. True 2. FalseExplanation / Answer
100. The terms like Purchse, supply, logistics,and procurements are widely used terms in Business and Trade. These terms are well explained by various Management Thinkers, Business Practioners and Management Gurus, But these termas have no standard and Generalised definitions for practical use.Hence that statement that thse terms are not well defined is TRUE.
Therefore the Given statement is TRUE.
101. Modern areas of Management like purchase and supply management has evolved from a transaction based tactical functions to process oriented strategic function .
Hence the given statement is TRUE
102.Since labour and other costs greatly exceeds outlays for purchased materials and services in most service organizations,supply is of little consequences in service organization.This statement is rue by all respect.
Hence the statement is TRUE.
103.A single source supplier may hold the buyer hostage by unduly raising prices or become too complacent, particulary when there are higher switching costs.This is because, as a single source supplier, the supplier enjoys the monopoly in the market and can dictate its own terms.Hence the statement is TRUE.
104. Until, relatively recently(i.e past 20 years or so) it would be generally true that purchasing was not viewed as a profit contributor in most organizations. This statement is TRUE.
Traditionally, Purchase has been considered as a burden to Organization's function as it was related to the expenditure. But now the thinking process of many organizations has changed drastically and they began to understand the importance of Purchasing.
105.The major reasons for limiting the number of suppliers in the supplier selection and evaluating model is that the resource available for the purchaser for this activity are limited to the department's resources.This is not true as the limited numbers of suppliers in the model is selected keeping cosst effectiveness in mind.
Hence the statement is false
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