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| Question | Answer |
| A contract that allows a retailer to return unsold inventory up to a specified amount, at an agreed upon price is a ? | buyback or returns contract. |
| The procurement process for both direct and indirect materials should work on what? | consolidation of orders to take advantage of economies of scale and quantity discounts. |
| The purpose of having multiple suppliers for a product is to ? | 1. ensure a degree of competition. 2. ensure the possibility of a backup should a source fail to deliver. |
| Supplier performance should be compared based on what? | their impact on total cost |
| Supplier characteristics such as lead time, reliability, quality, and design capability that impact the total cost of doing business with a supplier should be considered during the process of what? | supplier scoring and assessment |
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