INTE exam

A company that has never focused on supply management in the past is now faced with increasing competition from new, innovative products entering its market. As a result, the firm's business strategy includes an increased focus on cost containment. Given this situation, which of the following should the company do...

An organization's capital expenditure policies are MOST closely aligned with which of the following types of assets?A . DeferredB . IntangibleC . CurrentD . FixedView AnswerAnswer: D Explanation: Capital expenditure policies primarily relate to fixed assets, as they involve investments in long-term assets that are capitalized and depreciated over time....

For many years, WXY Company's policy has been to buy only domestically manufactured MRO materials and maintain quantities of these materials at each operating location. A recent analysis reveals that this practice is not the most efficient and effective way for this firm to manage its MRO purchases. Given this...

XYZ, Inc. is a manufacturer and distributor of fishing gear. XYZ relies on poorly-executed forecasts from its retail partners, which leads to exaggerated demand. This in turn leads to XYZ experiencing increased inventory, material handling concerns, and difficulties managing its accounts payable. Which of the following BEST describes what is...

A supply manager is tasked with assisting internal customers in refining their budgets and planning future sourcing. The supply manager works with the firm's marketing director on a budget which includes a large direct mail campaign and the revision of promotional materials for several products. Six months later, marketing has...

An organization purchases materials beyond current and anticipated requirements in expectation of a price increase or shortage, in the hope that it will profit from the sale of the materials at a later date. This describes which of the following buying strategies?A . ConsignmentB . ForwardC . SpeculativeD . SpotView...

A company finds that delays and cost overruns are creating problems in its service contracts. To improve this situation, which of the following should the firm do FIRST?A . Renegotiate pricing with current service suppliersB . Convert cost reimbursable contracts into fixed pricesC . Revise the company's standard contract template...

A firm hires a contractor to build a new warehouse. During construction, the firm decides it wants to modify the contract to add an office area to the facility. Which of the following is the BEST course of action for the firm to take in this situation?A . Verbally notify...

Which of the following ensures that project requirements are being met within project constraints?A . Schedule varianceB . Performance reportingC . Scope managementD . Change managementView AnswerAnswer: C Explanation: Scope management ensures project requirements align with constraints, preventing scope creep and maintaining project focus. It involves defining, controlling, and validating...

A specialized sewing shop quilts fabrics for use in upholstered furniture. Various patterns are produced on different machines, each of which has its own set-up routine. At times, one type of machine is idle while others are backed up. The sewing floor supervisor finds new software which makes the machines'...