The Pareto Principle refers to the common finding that 80% of results tend to be produced by around 20% of causes. 

In the Metalcraft case, varying objectives and incentives strengthened the procurement process.

Suppose the firm already knows the specifications of the product it wishes to source. Which of the following RFxs is NOT appropriate in this situation?

The “Third Way” sourcing strategy as mentioned in the VF Brands case would fall where on the continuum of sourcing arrangements:

Well-designed supplier scorecards can be used to do all of the following EXCEPT:

Lowest cost is often times not the most important attribute for supplier selection

Items with a high value to the buyer and a high number of suppliers would suggest which of the following approaches:

A company owns a factory that specializes in producing baseball hats. It pays workers 50 cents for every hat they make. In this case, the labor cost of paying those workers is a form of (more than one may apply) 

Vertical integration should be used as the optimal sourcing strategy when:

Factory A is more expensive to work with than Factory B because Factory A has a higher reject PPM number. This is an example of which type of cost driver?