3. Supply Chain Management

Procurement — Quiz

Test your understanding of procurement with 5 practice questions.

Practice Questions

Question 1

Which procurement approach aims to minimize environmental impact by selecting suppliers based on sustainability criteria?

Question 2

Which payment method uses a buyer’s bank to guarantee payment to the supplier upon presentation of compliant shipping documents?

Question 3

If the unit cost is \$200, freight is \$20 per unit, insurance is 1\\% of (cost + freight), and import duty is 10\\% of the CIF value, what is the total landed cost per unit?

Question 4

Which collaborative practice in procurement helps mitigate the bullwhip effect by jointly sharing forecasts and replenishment plans across supply chain partners?

Question 5

In the Analytic Hierarchy Process for supplier selection, what mathematical method is used to derive criteria weights from the pairwise comparison matrix?