1) What kinds of business relationships can help companies have tighter control over suppliers? a) Strategic alliances and equity investments b) Detailed contracts c) Clear communication d) Regular reviews 2) A better relationship with suppliers can improve a company’s supply chain. a) True b) False 3) What is a supply chain? a) A process for distributing goods b) A team collaboration c) A network for moving products to customers d) A stock management method 4) Companies sometimes establish a formal alliance with their suppliers& sometimes take an equity stake in their business. a) True b) False 5) All suppliers and subcontractors can bear the extra costs of holding stock for their customers. a) True b) False 6) An agreement between countries, companies, etc. to work together in order to achieve somthing that they all want: a) Alliance b) Suppychain c) Remedialstep d) Supplier 7) A stage involving correcting or improving something that has been done wrong is referred to as what? a) Remedialstep b) Suppychain c) Stock d) Supplier 8) What is the benefit of improved information systems to managers? a) More control over production b) Accurate product needs and efficiency c) Better communication d) Labor cost reduction 9) What is the benefit of a supplier audit? a) Finds process improvements b) Ensures quality and reduces risk c) Monitors performance d) Provides insights 10) What plays the most important role in the way companies produce things? a) Workforce b) Quality control c) Marketing d) Supply chain management 11) What has made improvements in supply chain management a) Better communication b) Information systems c) Production restructuring d) New facilities 12) A person or company that does part of the work given to another person or company is called what? a) Subcontrator b) Stake c) Stock d) Alliance 13) An official examination of the quality or standard of something is called what? a) Audit b) Subcontrator c) Stake d) Supplier 14) Money that somebody invests in a company is referred to as what? a) Stake b) Alliance c) Remedialstep d) Supplier 15) The goods that a business has for sale are referred to as what? a) Stock b) Stake c) Suppychain d) Remedialstep 16) A company that provides raw materials or equipment to companies that make goods is called what? a) Supplier b) Subcontrator c) Stake d) Stock 17) Suppliers or subcontractors are prepared to bear the extra costs if they have a greater commitment from their customers a) True b) False 18) The whole series of processes, companies, places, etc. that are involved in making and selling a product is called what? a) Suppychain b) Subcontrator c) Alliance d) Remedialstep

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