Procurement and Inventory Management Basics - Beginner Level

Question 1
What does procurement primarily involve?

(A) Acquiring goods exclusively from local sellers

(B) Producing goods internally

(C) Acquiring goods or services from external sources

(D) Only tracking and storing received goods

Question 2
In inventory management, what is the benefit of effective tracking?

(A) It mainly assists in organizing office supplies with minimal financial impact

(B) It is used only for tax purposes

(C) It helps ensure accurate stock levels and reduces overstock or shortages

(D) It solely focuses on financial expenditures

Question 3
Which activity is most relevant when coordinating with suppliers?

(A) Avoiding any communication to lower costs

(B) Allowing suppliers to decide delivery terms while you monitor inventory

(C) Randomly ordering goods without advance planning

(D) Communicating requirements and delivery schedules clearly

Question 4
Which step is essential in the purchasing process?

(A) Ignoring supplier feedback after transactions

(B) Purchasing solely based on the cheapest price regardless of quality

(C) Evaluating supplier performance based on timely delivery and product quality

(D) Evaluating only price with little consideration of delivery performance

Question 5
When managing office supplies inventory, what is a best practice?

(A) Sporadically checking inventory without establishing reorder levels

(B) Keeping all records in a single unorganized location

(C) Regularly updating stock records and setting reorder points

(D) Ordering large quantities only to avoid frequent purchases

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