L e a r n I n g o b j e c t I v e s after studying this chapter, you should be able to
A firm, its suppliers, and its customers collectively form which of the following a
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9. A firm, its suppliers, and its customers collectively form which of the following a. supply chain Correct. The supply chain is made up of the firm, its suppliers, and customers.] b. value chain Incorrect. The value chain is made up of primary and support activities within the firm.] c. ERP system Incorrect. An ERP system integrates all aspects of an organization’s activities into one system.] d. AIS Incorrect. The AIS is made up of the human and capital resources within an organization that are responsible for collecting and processing transactions and preparing financial information.] 10. A report telling how well all approved vendors have performed in the prior 12 months is information that is MOST needed in which business process? a. paying vendors Incorrect. To pay a vendor, a company needs to know whether merchandise ordered was received in good condition. They do not need a month history of vendor performance b. acquiring inventory Correct. Companies want to acquire inventory from companies that have performed well in the past. A vendor performance report would disclose whether the vendor shipped inventory on time, whether the inventory was of there- quested quality, whether the prices were as agreed upon, etc.] c. selling merchandise Incorrect. A month history of vendor performance is usually not very helpful in trying to sell products to customers. More important would be customer tastes and preferences, customer credit status, etc.] d. paying employees Incorrect. It is very rare for an employee’s pay to be based on a month history of vendor performance. More important are hours worked, annual salary, sales figures to calculate commissions, etc.] Document Outline
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