Practice Test Geeks(CFS) Certified Fastener Specialist Practice Test
← All CFS Flashcard Decks

Supply Chain & Procurement Flashcards

7 cards from real CFS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Supply Chain & Procurement flashcards as text

  1. Under the Uniform Commercial Code (UCC), when does title to a shipment of fasteners typically transfer from seller to buyer under FOB Origin terms?

    Answer: When the seller places the goods with the carrier at the origin point

    Under FOB Origin (FOB Shipping Point), title and risk of loss transfer to the buyer when the seller delivers goods to the carrier at the point of origin.

  2. A fastener distributor maintaining a 'just-in-time' (JIT) supply agreement for an automotive OEM must above all ensure:

    Answer: Near-zero stockouts with precise delivery timing synchronized to production schedules

    JIT supply agreements require precise, synchronized delivery because the assembler holds minimal buffer stock and a missed delivery can halt an entire production line.

  3. Which document formally communicates a buyer's acceptance of a supplier's price, quantity, delivery, and terms for fasteners?

    Answer: Purchase Order (PO)

    A Purchase Order is the legally binding commercial document that formally accepts the supplier's offer and establishes the terms of the transaction.

  4. A fastener buyer notices that annual spend on a particular bolt is $500,000 but only two qualified suppliers exist globally. According to supply risk analysis, this item falls into which procurement category?

    Answer: Strategic item — high spend, high supply risk

    The Kraljic Matrix classifies items with both high spend and high supply risk (few suppliers) as Strategic items requiring the deepest supplier relationship management.

  5. What is 'safety stock' in a fastener inventory system?

    Answer: Extra inventory held as a buffer against demand variability and supply disruptions

    Safety stock is deliberately held above expected demand to protect against unexpected demand spikes or supplier delivery delays without causing stockouts.

  6. When a fastener specification references ASTM F593, which procurement action is required to verify compliance?

    Answer: Require mill certifications or test reports confirming mechanical properties meet ASTM F593

    ASTM F593 covers stainless steel bolts; procurement compliance requires certified test data (mill certs) documenting that material and mechanical properties meet the standard.

  7. A company switches from purchasing fasteners from a distributor to buying directly from the manufacturer. The primary supply chain risk this creates is:

    Answer: Reduced flexibility and higher minimum order quantities requiring more capital tied up in inventory

    Direct manufacturer purchasing typically requires higher MOQs and longer planning horizons, increasing inventory investment and reducing the flexibility that distributors provide.