ISM Foundation of Supply Management - CPSM1 Exam Practice Test
An intermediary who brings the buyer and the seller together is the:
Correct Answer: A
Two back-to-back quarters of negative gross domestic product growth is referred to as:
Correct Answer: B
A measure of velocity of total inventory movement through the organization, found by dividing annual sales by the average aggregate inventory value maintained during the year is called:
Correct Answer: B
According
to the supply management, one of the most useful ways to develop is to begin with an inventory report listing all items in descending order of dollar spent.
to the supply management, one of the most useful ways to develop is to begin with an inventory report listing all items in descending order of dollar spent.
Correct Answer: A
What is used to lessen the potential biases commonly found using a jury of executive opinion?
Correct Answer: D
What involves taking out an investment that will specifically reduce or cancel out the risk in another investment?
Correct Answer: C
Making environmentally
conscious
decisions throughout the purchasing process beginning with product and process design through product disposal is known as:
conscious
decisions throughout the purchasing process beginning with product and process design through product disposal is known as:
Correct Answer: B
A practice that involves purchasing professional in the new product or service development process from its inception is called:
Correct Answer: C
The implementation of a measurement-based strategy aimed at reducing variances and improving processes is the objective of:
Correct Answer: A
Organizations less familiar with the discipline of project management usually begin by creating task forces or committees within each role to tackle problem, known as:
Correct Answer: B