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Quiz Lesson 1 Purpose & Methods

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Question 1 of 5

1. Question
Which business activity is traditionally part of the Source-to Contract cycle?
- Ordering
- Shipping
- Negotiation
- Compliance
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Question 2 of 5

2. Question
What distinguishes sourcing from buying?
- Strategic sourcing must include senior executives, whereas tactical buying does not
- Strategic sourcing focuses on direct spend, whereas tactical buying involves indirect spend
- Strategic sourcing involves negotiating the technical, commercial and operational terms of a purchase, whereas buying involves ordering, shipping and settling a payment
- Strategic sourcing must undergo a legal compliance and approval process, whereas tactical buying operates under a pre-approved covenant
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Question 3 of 5

3. Question
Which of the following is NOT typically a success metric for strategic sourcing teams?
- Cost savings
- On-time delivery
- Cost avoidance
- Cycle time
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Question 4 of 5

4. Question
Why do organizations prefer de-centralized sourcing approaches for lower-value transactions?
- It’s more organized
- It’s less costly
- It’s a faster process
- It can improve quality
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Question 5 of 5

5. Question
Which of the following categories best describes the term “strategic sourcing”?
- Process
- Metric
- Science
- Business model
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