The key to the success of any company is the quality of its employees.

All of the following are required elements in a purchase requisition except _____.

The purchasing cycle begins with the _____.

​A/An _____ is an open order, usually effective for one year, covering repeated purchases of an item or family of items.

For routine, off-the-shelf items, the purchase requisition may contain all the information that purchasing requires.

Contract management should be used to trigger proactive sourcing events only after a contract expires.

The term _____ refers to the set of purposes, principles, and rules of action that guide an organization.

_____ refer to standard operating procedures along with any rules and regulations.

Once written, policies do not have to be periodically reviewed for clarity and conformance.

All of the following are characteristics of effective policies except _____.​

Routine items available from many different sources are seldom purchased through competitive bidding.

​_____ is the tendency of a rational group or team to arrive at a bad decision when other information is available.

If positive work is never recognized or reinforced through rewards, the positive effort will likely be extinguished.

Cross-functional sourcing teams are a less-than-ideal way to promote cross-organizational cooperation.

​The term _____ refers to the set of performance criteria and products and processes an organization intends to develop.

A team may pressure an individual to support or conform to a lower production norm than the individual’s personal norm.

Center-led organizations have the same total authority that purely centralized units do.​

Use of a _____ is most advantageous where geographic concentration exists within a company.

By definition, _____ is a broad term describing the purchase of raw materials, components, finished goods, or services from suppliers, some of whom can be another operating unit within the organization.​

The preparation and transfer of material releases to suppliers is part of the operational support process.

Transportation is a highly specialized activity with its own set of requirements.