Bsba 4 - Electronic Commerce

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Questions: 30 | Attempts: 58

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Bsba 4 - Electronic Commerce - Quiz


This quiz covers the whole CHAPTER 6: COMPANY-CENTRIC B2B AND E-PROCUREMENT.
Time limit 20 minutes only. Write your full name in order to determine your score.
Good Luck.
("Honesty is the best Policy in Life")


Questions and Answers
  • 1. 

    It is usually at prevailing market prices where they purchase of goods and services as they are needed.

    Explanation
    Spot buying refers to the practice of purchasing goods and services at the prevailing market prices when they are needed, rather than through long-term contracts or advance planning. This approach allows organizations to take advantage of current market conditions and obtain the best possible prices for their purchases. It is a flexible and reactive strategy that is commonly used for items that are not regularly purchased or for urgent needs.

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  • 2. 

    It is a corporate-based acquisition site that uses reverse auctions, negotiations, group purchasing, or any other e-procurement method.

    Explanation
    A buy-side e-marketplace refers to a corporate-based acquisition site that utilizes various e-procurement methods such as reverse auctions, negotiations, group purchasing, and other similar approaches. This platform allows businesses to purchase goods and services from suppliers, streamlining the procurement process and potentially reducing costs.

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  • 3. 

    It is provide SMEs with better prices, selection, and services by aggregating demand online and then either negotiating with suppliers or conducting reverse auctions.

    Explanation
    External aggregation refers to the process of bringing together demand from multiple sources outside of a company or organization. In the context of the given statement, it means that by aggregating demand online, SMEs can benefit from better prices, selection, and services. This is achieved by either negotiating with suppliers based on the aggregated demand or conducting reverse auctions where multiple suppliers compete to offer the best prices and services. Overall, external aggregation helps SMEs leverage the power of collective demand to their advantage.

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  • 4. 

    It is used to implement traditional EDI systems.

    Explanation
    Value-added networks (VANs) are used to implement traditional EDI (Electronic Data Interchange) systems. VANs provide a secure and reliable platform for exchanging electronic documents between trading partners. They add value to the EDI process by offering services such as data translation, message routing, and monitoring. VANs act as intermediaries between trading partners, ensuring that data is transmitted accurately and efficiently. Therefore, the use of value-added networks is a common practice in implementing traditional EDI systems.

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  • 5. 

    In which many buyers and many sellers meet electronically to trade with each other.

    Explanation
    Exchanges are platforms where multiple buyers and sellers come together electronically to trade various goods or assets. These exchanges provide a centralized marketplace where participants can interact and carry out transactions. Through exchanges, buyers and sellers can access a wide range of products, compare prices, and negotiate deals. The electronic nature of these exchanges allows for efficient and convenient trading, eliminating the need for physical presence or direct communication between parties.

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  • 6. 

    E-commerce that focuses on a single company’s buying needs or selling needs.

    Explanation
    This term refers to e-commerce that is centered around the buying or selling needs of a single company. It focuses on meeting the specific requirements and preferences of that particular company, rather than catering to a broader market or multiple companies. This type of e-commerce is designed to streamline and optimize the company's purchasing or selling processes, making it more efficient and tailored to their unique needs.

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  • 7. 

    It is a transactions between businesses conducted electronically over the Internet.

    Explanation
    This answer is correct because it accurately describes the concept of business-to-business e-commerce. It refers to transactions between businesses that are conducted electronically over the Internet. The various ways in which the answer is presented, using different terms and abbreviations, all convey the same meaning.

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  • 8. 

    It is a web-based marketplace in which one company sells to many business buyers from e-catalogs or auctions, frequently over an extranet.

    Explanation
    A sell-side e-marketplace is a web-based marketplace where a company sells its products or services to multiple business buyers. This is done through e-catalogs or auctions, often using an extranet. In this type of marketplace, the company takes on the role of the seller, offering its products to potential buyers. The platform allows for efficient and streamlined transactions between the company and its business customers, facilitating sales and enabling a wider reach for the company's products.

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  • 9. 

    The electronic acquisition of goods and services for organizations.

    Explanation
    E-procurement, also known as electronic procurement, refers to the process of acquiring goods and services for organizations through electronic means. This can involve activities such as online purchasing, electronic auctions, and electronic tendering. E-procurement offers several advantages, including increased efficiency, cost savings, and improved transparency in the procurement process. It allows organizations to streamline their purchasing activities, automate processes, and access a wider range of suppliers. Overall, e-procurement helps organizations to optimize their procurement operations and achieve better outcomes in terms of quality, cost, and timeliness.

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  • 10. 

    Carrying products used by one industry but at various segments of the supply chain  is called horizontal

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    The correct answer is False because carrying products used by one industry but at various segments of the supply chain is called vertical integration, not horizontal. Horizontal integration refers to the acquisition or merger of companies at the same level of the supply chain or in the same industry.

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  • 11. 

    It is an online third party that brokers a transaction online between a buyer and a seller; can be virtual or click-and-mortar.

    Correct Answer
    Online intermediary
    Explanation
    An online intermediary refers to a platform or service that facilitates transactions between buyers and sellers online. It acts as a middleman, connecting the two parties and providing a platform for them to interact and complete their transaction. This intermediary can be virtual, meaning it operates solely online, or click-and-mortar, meaning it has both an online presence and physical stores. It helps to streamline the buying and selling process, providing a convenient and efficient way for individuals or businesses to engage in online transactions.

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  • 12. 

    It is the aggregated catalogs of all approved suppliers combined into a single internal electronic catalog.

    Correct Answer
    Internal marketplace
    Explanation
    An internal marketplace refers to a platform or system that allows employees within an organization to access and purchase goods or services from approved suppliers. This marketplace combines the catalogs of all approved suppliers into a single electronic catalog, making it easier for employees to find and purchase the items they need. By having a centralized and aggregated catalog, the internal marketplace streamlines the procurement process and ensures that employees have access to a wide range of products from various suppliers.

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  • 13. 

    EDI that runs on the Internet and is widely accessible to most companies, including SMEs.

    Correct Answer
    Internet-based (Web) EDI
    Internet-based
    Internet based
    Explanation
    The correct answer is "Internet-based (Web) EDI". This type of EDI runs on the Internet and is widely accessible to most companies, including SMEs. It allows for the exchange of electronic documents and transactions between trading partners through web-based applications. This form of EDI eliminates the need for specialized software or infrastructure, making it more accessible and cost-effective for smaller businesses. It leverages the connectivity and reach of the Internet to facilitate efficient and secure electronic communication between trading partners.

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  • 14. 

    An intermediary that links parties in a barter; a company submits its surplus to the exchange and receives points of credit

    Correct Answer
    bartering exchange
    Explanation
    A bartering exchange is a system where companies or individuals can trade their surplus goods or services with others, without the need for money. In this system, a company can submit its surplus to the exchange and receive points of credit in return. These credits can then be used to acquire goods or services from other participants in the exchange. The exchange acts as an intermediary, linking parties involved in the barter and facilitating the trading process.

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  • 15. 

    It provide an opportunity to buyers to find inexpensive or unique items fairly quickly.

    Correct Answer
    e-auctions
    electronic auctions
    Explanation
    E-auctions or electronic auctions provide an opportunity for buyers to find inexpensive or unique items fairly quickly. By conducting auctions online, buyers have access to a wide range of products from different sellers, allowing them to compare prices and find the best deals. Additionally, e-auctions often have a larger pool of sellers, increasing competition and potentially driving prices down. This convenience and accessibility make e-auctions a popular choice for buyers looking for affordable or one-of-a-kind items.

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  • 16. 

    In implementing e-procurement—major e-procurement implementation issues one this is fitting e-commerce into the company EC strategy.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    In implementing e-procurement—major e-procurement implementation issues one this is fitting e-procurement into the company EC strategy.

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  • 17. 

    In implementing e-procurement—major e-procurement implementation issues one this is reviewing and changing the procurement process itself.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is true because when implementing e-procurement, it is important to review and change the procurement process itself. E-procurement involves using electronic systems and technology to streamline and automate the procurement process, which may require changes to the existing manual or paper-based processes. By reviewing and changing the procurement process, organizations can ensure that it aligns with the requirements and capabilities of the e-procurement system, leading to more efficient and effective procurement operations.

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  • 18. 

    One of the major methods of e-procurement is through reverse auctions.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Reverse auctions are indeed one of the major methods of e-procurement. In a reverse auction, multiple sellers compete to offer the lowest price for a particular product or service, and the buyer selects the winning bid. This method allows buyers to obtain goods and services at the best possible price, as sellers are motivated to offer competitive bids. Reverse auctions are commonly used in e-procurement systems to streamline the purchasing process and drive cost savings.

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  • 19. 

    The electronic auction method is the most common model for large MRO purchases as it provides considerable savings 

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    The reverse auction method is the most common model for large MRO purchases as it provides considerable savings.

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  • 20. 

    It is the aggregation of orders from several buyers into volume purchases so that better prices can be negotiated.

    Correct Answer
    group purchasing
    Explanation
    Group purchasing refers to the practice of combining the orders of multiple buyers in order to make larger volume purchases. By doing so, buyers can negotiate better prices and discounts with suppliers or vendors. This allows individual buyers to benefit from the collective buying power of the group, resulting in cost savings and improved purchasing terms. Group purchasing is commonly used by businesses, organizations, and even consumers to obtain better deals and maximize their purchasing efficiency.

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  • 21. 

    Joining a public e-marketplace provides a business with high buying and selling capabilities, but will result in low supply chain power.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Joining a public e-marketplace allows a business to access a large network of buyers and sellers, which increases their buying and selling capabilities. However, being part of a public e-marketplace means that the business has less control over their supply chain. They may have to rely on the marketplace's rules and regulations, which can limit their power and flexibility in managing their supply chain. Therefore, the statement that joining a public e-marketplace results in low supply chain power is true.

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  • 22. 

    B2B private e-marketplace provides a company with high supply chain power and high capabilities for online interactions

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    A B2B private e-marketplace refers to an online platform where businesses can interact and conduct transactions with each other. It allows companies to have greater control over their supply chain and enables them to engage in online interactions with other businesses. This can lead to increased efficiency, cost savings, and improved overall supply chain management. Therefore, the statement that a B2B private e-marketplace provides a company with high supply chain power and high capabilities for online interactions is true.

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  • 23. 

    MROs :Direct materials used in activities that support production.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    MROs (maintenance, repairs, and operations): Indirect materials used in activities that support production

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  • 24. 

    Companies that choose an intermediary to do their buying and selling will be low on both supply chain power and buying/selling capabilities.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Companies that choose an intermediary to handle their buying and selling activities will likely have lower supply chain power and buying/selling capabilities. This is because by relying on an intermediary, the company gives up some control over their supply chain and may not have as much negotiating power or flexibility in their buying and selling decisions. Intermediaries often handle multiple companies' transactions, which can result in less individual influence and potentially limited access to certain markets or suppliers.

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  • 25. 

    PartnerNet customized Web pages for major customers and suppliers.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    PartnerNet is a platform that offers customized web pages for major customers and suppliers. This means that the statement is true, as it accurately describes the function of PartnerNet.

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  • 26. 

    E-commerce sellers are increasingly motivated to sell surpluses and even regular products via auctions.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    E-auctions sellers are increasingly motivated to sell surpluses and even regular products via auctions.

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  • 27. 

    Benefits of e-procurement is decreasing the productivity of purchasing agents.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Benefits of e-procurement
    Increasing the productivity of purchasing agents

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  • 28. 

    E-auctions provide an opportunity to buyers to find inexpensive or unique items fairly quickly 

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    E-auctions do provide an opportunity for buyers to find inexpensive or unique items, but it is not necessarily a quick process. E-auctions can often be competitive, with multiple bidders vying for the same item, which can drive up prices and make it more difficult to find inexpensive items. Additionally, the process of searching for and bidding on items in an e-auction can take time, especially if there are many items being auctioned. Therefore, the statement that e-auctions provide a quick opportunity to find inexpensive or unique items is false.

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  • 29. 

    Major benefits of direct sales are: Higher order-processing costs and more paperwork.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Major benefits of direct sales are:
    Lower order-processing costs and less paperwork

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  • 30. 

    Benefits of B2B
    1. Terminates paper and reduces administrative costs.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is true because B2B (Business-to-Business) transactions involve electronic communication and digital documentation, which eliminates the need for paper-based processes. This not only saves costs associated with printing and storage but also reduces administrative expenses related to tasks like data entry and document management. Therefore, B2B brings the benefit of terminating paper and reducing administrative costs.

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