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Question
Just-in-time inventory systems
A) are used when procurement is not organized.
B) require large warehouses for storage.
C) economize on inventory holding costs.
D) maintain large buffer for inventory.
Answer
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Related questions
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Countertrade is
A) most attractive to small, primarily domestic enterprises.
B) least attractive to small, primarily domestic enterprises.
C) most attractive to large, diverse multinational enterprises.
D) least attractive to large, diverse multinational enterprises.
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_____ occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant s output as partial payment for the contract.
A) A buyback
B) A barter
C) An offset
D) A switch trade
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As a document of title, a _____ can be used to obtain payment or a written promise of payment before the merchandise is released to the importer.
A) bill of lading
B) letter of credit
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In a typical international trade transaction, the
A) exporter should obtain a letter of credit to initiate transactions.
B) importer and exporter maintain an account with the same bank.
C) importer s bank sends a letter of credit to the exporter s bank.
D) importer s bank sends the draft and bill of lading to the exporter s bank.
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In an international transaction involving a bank as a third party, the exporter ships the product after
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B) receiving a cleared payment through the bank.
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B) EMCs are export-import banks that manage foreign exchanges.
C) EMCs are export specialists that act on behalf of their client firms.
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Describe the 14 steps in a typical international trade transaction.
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Tangible property includes patents, designs, copyrights, and trademarks.
⊚ true
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Q:
What is a drawback of a just-in-time system?
A) Transport costs are high when using a just-in-time system.
B) It leaves a firm without a buffer stock of inventory.
C) It increases the warranty costs associated with products.
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Q:
When a multinational corporation buys products or services from one of its suppliers that produces them somewhere else, whether domestically or globally, it is referred to as
A) offshoring.
B) insourcing.
C) outsourcing.
D) co-sourcing.
Q:
The process of planning, implementing, and controlling the efficient, cost-effective flow of raw materials, in-process inventory, finished goods, and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposalis called
A) transportation.
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Q:
Make-or-buy decisions are decisions about
A) the components to be used in the manufacturing process.
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Which of the following would lead a firm to choose a concentration of production?
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This is where cutting-edge production should take place, or at least be tested for implementation in other parts of the firm s production network.
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A) cannot travel through a global supply chain.
B) have low value-to-weight ratios.
C) come from offshore factories.
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_____ covers a range of manufacturing technologies designed to reduce setup times for complex equipment.
A) ISO 9000
B) TQM
C) Lean production
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⊚ true
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Markets can be segmented in only one way by sociocultural factors.
⊚ true
⊚ false
Q:
Four elements comprise the marketing mix: product attributes, distribution strategy, communication strategy, and pricing strategy.
⊚ true
⊚ false
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New-product development
A) results in high returns about 50% of the time.
B) has a high failure rate.
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D) has a low failure rate.
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_____ is an international market research company based in London that works with more than half of the Fortune 500 companies.
A) Ipsos
B) Nielsen
C) NPD Group
D) Kantar
Q:
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A) product strategy
B) pricing strategy
C) distribution strategy
D) communication strategy