Homework Answers
Option a) is correct
Firstly in order to answer the question you should have to understand the meaning of Insourcing.
Insourcing refers to a process under which instead of depending upon an outsider to does our work we are doing our work ourselves.
Sometimes in order to reduce the cost, to take the advantage of economies of scale, and to shift the burden of their work, companies tend to outsource their work to some other entities which are specialized in that type of work. For example, companies may outsource their accounting or compliance work to a CA firm.Insourcing refers to the opposite of outsourcing.
Insourcing is to be considered when there are a number of problems i.e. where assurance of supply is a problem, supplier has denoted a unique process and there is an opportunity cost to reduce cost significantly.
Assurance of supply is problem- Supppse we are not getting assurance aboit the supply, i.e. say we got order of 1000 units, but we are not getting assurance from supplier that we will get necessary inputs.
Suppose we are getting an opportunity to reduce opportunity cost, than we will have to shift towards outsourcing.
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Insourcing should be considered when: Select one: O a. assurance of supply is a problem, the supplier has developed a u...
Transaction cost theory is about the Select one: o a. Problems an organization and a supplier...
Transaction cost theory is about the Select one: o a. Problems an organization and a supplier or distributor encounter in managing their relationship. O b. Boundaries the organization draw around its activities. O c. Cost/value relationship the organization presents to its customers. O d. Business strategy for the firm. First mover disadvantages include: Select one: O a brand loyalty, preemption of scare assets, exploiting buyer switching costs. O b. research and development costs, under developed supply and distribution channels, immature...
Expediting: Select one: O a. may be caused by the buyer or the supplier. O b....
Expediting: Select one: O a. may be caused by the buyer or the supplier. O b. is a routine order tracking process. c. is caused by buyer behavior only. O d. may be the result of legal noncompliance. O e. is caused by supplier behavior only.
As supply chains have become more global, the risk of supply disruptions has: Select one: O...
As supply chains have become more global, the risk of supply disruptions has: Select one: O a. increased because emerging economies lack the business ethics of developed nations. O b. stayed the same because the issues are similar wherever suppliers are located. O c. increased because of financial and exchange rate fluctuations. O d. decreased because there are global standards for labor and safety. O e. decreased because risk is spread among suppliers all over the world.
Effectively and efficiently applying technology to the supply management process will: Select one: O a. lower...
Effectively and efficiently applying technology to the supply management process will: Select one: O a. lower the total cost of doing business. O b. lead to damaged buyer-supplier relationships from impersonal communication. c. decrease operating performance because of the volume of available information. d. lead to increased clerical effort from additional data entry O e. inhibit negotiation planning because of time spent accessing and analyzing data.
Knowledge Check 01 Which of the following factors should be considered when deciding whether to keep...
Knowledge Check 01 Which of the following factors should be considered when deciding whether to keep a product line or drop it? (Select all that apply) Check All That Apply 0 Opportunity costs of using the production facility currently being used for the product line 0 Revenues generated by the product line 0 Variable costs incurred in manufacturing the product 0 Direct fixed costs associated with the product line 0 Common fixed costs allocated to the product line Check All...
Which of the following is true? A. When n 1, supply is considered unit elastic. O...
Which of the following is true? A. When n 1, supply is considered unit elastic. O B. When 0 < η < 1, supply is considered inelastic. C. When η > 1, supply is considered elastic. O D. All of the above. O E. None of the above.
An organization may decide to continue to produce a good or service in-house rather than outsource: Select one: O a. to...
An organization may decide to continue to produce a good or service in-house rather than outsource: Select one: O a. to control the quality of customer service and to reduce risk. O b. to reduce risk. O c. to control the quality of customer service, to reduce risk and because of a lack of technical expertise in- house. d. to control the quality of customer service O O e. because of a lack of technical expertise in-house.
The fact of increasing opportunity cost when moving on the PPF means that Select one: O...
The fact of increasing opportunity cost when moving on the PPF means that Select one: O A. when the government forces a movement from one point on the PPF to another point, no production is lost. B. the PPF will be a negatively sloped straight line. O C. to increase the production of one product requires larger and larger sacrifices of the other good. O D. to decrease the production of one product requires smaller and smaller sacrifices of the...
1. This is considered as an external exposure... A. Production problems. B. Company management. C. A...
1. This is considered as an external exposure... A. Production problems. B. Company management. C. A change in demand of a product. D. Organizational structure. 2. A problem in workflow is known as a... A. A bottleneck. B. Point of no return. C. Stress point. D. Non-accessible point. 3. An organization has faced a situation that caused all operations to halt until further notice. In crisis management what stakeholder should be notified of delivery of payment? A. Employees. B. Board...
A supply curve indicates that: Select one: A. the supply for a good is higher when...
A supply curve indicates that: Select one: A. the supply for a good is higher when the price of that good is higher. B. the supply for a good is higher when the price of that good is lower C. the quantity supplied of a good is higher when the price of that good is lower. O D. the quantity supplied of a good is higher when the price of that good is higher.
Transaction cost theory is about the Select one: o a. Problems an organization and a supplier or distributor encounter in managing their relationship. O b. Boundaries the organization draw around its activities. O c. Cost/value relationship the organization presents to its customers. O d. Business strategy for the firm. First mover disadvantages include: Select one: O a brand loyalty, preemption of scare assets, exploiting buyer switching costs. O b. research and development costs, under developed supply and distribution channels, immature...
Expediting: Select one: O a. may be caused by the buyer or the supplier. O b. is a routine order tracking process. c. is caused by buyer behavior only. O d. may be the result of legal noncompliance. O e. is caused by supplier behavior only.
As supply chains have become more global, the risk of supply disruptions has: Select one: O a. increased because emerging economies lack the business ethics of developed nations. O b. stayed the same because the issues are similar wherever suppliers are located. O c. increased because of financial and exchange rate fluctuations. O d. decreased because there are global standards for labor and safety. O e. decreased because risk is spread among suppliers all over the world.
Effectively and efficiently applying technology to the supply management process will: Select one: O a. lower the total cost of doing business. O b. lead to damaged buyer-supplier relationships from impersonal communication. c. decrease operating performance because of the volume of available information. d. lead to increased clerical effort from additional data entry O e. inhibit negotiation planning because of time spent accessing and analyzing data.
Knowledge Check 01 Which of the following factors should be considered when deciding whether to keep a product line or drop it? (Select all that apply) Check All That Apply 0 Opportunity costs of using the production facility currently being used for the product line 0 Revenues generated by the product line 0 Variable costs incurred in manufacturing the product 0 Direct fixed costs associated with the product line 0 Common fixed costs allocated to the product line Check All...
Which of the following is true? A. When n 1, supply is considered unit elastic. O B. When 0 < η < 1, supply is considered inelastic. C. When η > 1, supply is considered elastic. O D. All of the above. O E. None of the above.
An organization may decide to continue to produce a good or service in-house rather than outsource: Select one: O a. to control the quality of customer service and to reduce risk. O b. to reduce risk. O c. to control the quality of customer service, to reduce risk and because of a lack of technical expertise in- house. d. to control the quality of customer service O O e. because of a lack of technical expertise in-house.
The fact of increasing opportunity cost when moving on the PPF means that Select one: O A. when the government forces a movement from one point on the PPF to another point, no production is lost. B. the PPF will be a negatively sloped straight line. O C. to increase the production of one product requires larger and larger sacrifices of the other good. O D. to decrease the production of one product requires smaller and smaller sacrifices of the...
A supply curve indicates that: Select one: A. the supply for a good is higher when the price of that good is higher. B. the supply for a good is higher when the price of that good is lower C. the quantity supplied of a good is higher when the price of that good is lower. O D. the quantity supplied of a good is higher when the price of that good is higher.
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