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3.2. The role of procurement GCSE Business AQA Flashcards | StudBud
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3.2. The role of procurement GCSE Business AQA
3.2. The role of procurement GCSE Business AQA
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3.2. The role of procurement GCSE Business AQA
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Which of the following is NOT a factor affecting choice of suppliers?
Cost
Quality
Profit
Reliability
2
A stock control method where businesses do not store any stock is called...
Just-in-time
Just-in-case
3
Clothing retailers often use a JIC approach.
False
True
4
The process of managing how resources are procured, stored and transported to their final location is called...
Procurement
Logistics
Supply chain
Purchasing
5
Which of the following is NOT an advantage of JIT stock management?
Less storage space is required
Harder to react to unexpected changes in demand
Less capital is tied up in stock
Stock will be fresher
6
What is the process of selecting suppliers, managing ordering, creating payment terms & negotiating contracts called?
Purchasing
Supply chain
Logistics
Procurement
7
Reducing unit costs can save a business money.
True
False
8
Which of the following is a disadvantage of JIC stock management?
Lower prices
Buffer stock available
More wastage
Lower delivery costs
9
Supermarkets often use a just-in-time approach.
False
True
10
An ineffective supply chain can cost a business money.
True
False
11
Effective communication ensures that...
The correct amount of goods and services are being provided
Supplies are good value and good quality
There are no delays in the production process
The best transportation routes are used
12
What type of economies of scale are achieved when a business buys in bulk?
Marketing
Purchasing
Technical
Financial
13
Which TWO of the following are features of a JIC approach to stock management?
Involves minimising the amount of stock held
Involves producing or purchasing excess stock
Stock may have to be sold of at a discount
Supplier delays can halt production
