Purchasing Final

_____ involves giving preferential treatment to suppliers that are also customers of the buying organization.
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_____ involves giving preferential treatment to suppliers that are also customers of the buying organization.
​Reciprocity
_____ involves the buyer seeking a court order forcing the seller to deliver the goods.
​Specific performance
In order to be valid, freight claims must be filed within _____ of the date of actual or reasonable date of delivery
​9 months
On _____, the freight bill is presented on the effective day of delivery.
collect shipments
The _____ describes the origin of the shipment, provides specific directions for the carrier, delineates the transportation contract terms, and functions as a receipt for the shipment.
bill of lading
_____ essentially indicates that the supplier warrants that it has ownership of the goods and that they are not stolen or subject to any security interest or liens.
Warranty of title
_____ occur[s] when either party fails to perform the obligations due under the contract (without a valid or legal justification).
Breach of contract
_____ is money the plaintiff actually paid to the defendant in connection with the contract.
​Restitution
The doctrine of _____ holds that if one or more parties made a promise, even orally, he or she cannot renege on that promise if the other party acted on reliance on the promise.
promissory estoppel
Which of the following is not one of the benefits that the UCC provides to buyers?
None of the above.
Which of the following is not an example of resources that affect global sourcing success?A large corporate headquarters building._____ involves contracting with independent suppliers outside the organization (domestic or foreign) to provide products or services that were performed inside the organization.​OutsourcingAll of the following are examples of why organizations source worldwide except _____.higher ethicsAll of the following are common methods for overcoming barriers to worldwide sourcing except _____.payment only in foreign currency_____ are internationally recognized commercial terms that describe the responsibilities of the buyer and seller in the arrangement of transportation and clarify when the ownership of the merchandise takes place.Incoterms_____ is a process that involves the straight exchange of goods for goods with no exchange of currency.Barter_____ occurs when a selling company agrees to accept goods from the buying country as partial payment.Switch tradingA FTZ _____ is approved for a specific use or a specific company.subzoneAll of the following are examples of the reliable and timely information required for successful global sourcing except _____.​truck traffic patterns around the supplier's facilityWith a _____, both parties agree that payment occurs as long as exchange rates do not fluctuate outside an agreed-upon range or band.​currency adjustment clauseA/An _____ is also known as the negotiator's bottom line or reservation point, that is, that point in the negotiation where it is most advantageous for the negotiator to walk away from the table and implement his or her next-best option.BATNAThe negotiator's _____ is the unspoken motivation or reason that underlies any given negotiation position.interestIn negotiation, a/an _____ is a reality or truth that the parties can state and successfully verify.factA/An _____ is an item or topic to be resolved during the negotiation.issue_____ is/are the ability to influence another person or organization to do something.powerA _____ is a movement away from a negotiating position that offers something of value to the other party in order to ultimately gain something else of value.concession_____ is a negotiation tactic that involves taking a time out.caucus_____ is a negotiation tactic that involves taking an abnormally high initial position on an issue.high ball_____ is a negotiation tactic that signals that it is now the other party's turn to reciprocate and make a concession on an important issue.Planned concessions_____ means that two or more parties are competing over a fixed sum value with the winner taking all or the larger share.​Win-lose negotiationThe _____ clause of a contract states whether the buyer can expect to receive preferential status over the supplier's other customers.most favored customerThe _____ clause in a contract provides specific details on how the supplier's performance will be measured and if any compensation will be awarded by the supplier to the buyer if these certain defined levels of performance are not maintained.key performance indicators and compensationThe _____ clause of a contract stipulates the court of law where any disputes will be settled.governing lawWith pure ______ contracts, allowable costs are shared between the parties on a predetermined percentage basis.cost-sharingThe _____ contract is generally used in plant and equipment maintenance agreements, where the supplier cannot determine accurate costs prior to the repair service.time and materials_____ refers to the volatility of pricing conditions for major elements of the product, such as raw materials, purchased components, and labor.​Component market uncertaintyA _____ is defined as a purchase that is made on a nonrecurring or limited basis with little or no attention of developed an ongoing relationship with the supplier.spot contractWhich of the following is not one of the potential advantages of using long-term contracts?Supplier opportunism._____ are based on the notion that as purchase volume increase, cost structures change.​Long-term contracts with incentivesA/An _____ clause assumes the contract will be renewed every year unless the supplier is otherwise notified that this is not the case.evergreenAt the most basic level, information flows record and retrieve critical data, then execute and control physical and monetary flows, and are referred to as _____.Internet-based information technology_____ applications address such long-term, strategic questions as "Where should we locate warehouses?", and "How large should our transportation fleet be?," often making use of simulation and optimization modeling.​Network design_____ systems attempt to allocate fixed logistics capacity in the best possible way, given business requirements.​Transportation and warehouse planningA/An _____ system provides the means for tracking organizational resources, including people, processes, and technology.​ERPA _____ contains the products or services of one or more suppliers.sell-side systemA _____ is an independent firm that neither buys nor sells goods but seeks to facilitate the electronic purchasing process through value enhancement.third-party marketplace_____ is the determination of the dollar amount and volume of expenditures that an organization makes to provide its products and services and support its operations.Spend analysisWhich of the following is not one of the benefits of a supplier performance module in an e-sourcing suite?​Providing input into supplier selection considering total costs, not just price.In a/an _____, sellers are only told their relative rank and thus are not aware of their competitors' prices.rank reverse auction_____ within the supply chain is the process of sharing critical data required to manage the flow of products, services, and information in real time between suppliers and customers.Information visibility