A company regularly purchases a specific component from multiple vendors. They want to streamline the bidding process by sending RFQs to a predefined list of vendors, and then automatically create a purchase agreement with the winning vendor for a one-year term. What should you do?

Use a purchase requisition to solicit bids from multiple vendors.

Create an RFQ and send it to the predefined vendor list. After accepting a bid, manually create a purchase agreement with the winning vendor.

Create a purchase order for each vendor and then select the best one to create a purchase agreement.

Create a purchase agreement with each vendor and then send RFQs to compare prices.

What is the purpose of a purchase agreement in Dynamics 365 Supply Chain Management?

To request internal approval for a purchase

To define long-term terms and conditions for purchases from a vendor

To record the receipt of goods from a vendor

To solicit bids from multiple vendors

A company has a purchase order for 1,000 units with a delivery schedule of 500 units on the 1st and 500 units on the 15th. The vendor delivers 500 units on the 1st, but the receiving clerk accidentally posts a product receipt for 1,000 units. The error is discovered before invoicing. What should the receiving clerk do to correct the mistake?

Reverse the product receipt for the 1,000 units and then post a new product receipt for the 500 units that were actually received.

Update the purchase order line quantity to 500 and then post a product receipt for 500 units.

Create a return order for the 500 units that were not actually received, and then post a product receipt for the remaining 500 units when they arrive.

Post a second product receipt for -500 units to adjust the quantity.

Microsoft Certified:Dynamics 365 Supply Chain Management Functional Consultant Associate

Domain 3Objective 1

Implement Procurement and Sourcing MB-330 Practice Questions (Page 5)

Part of the Implement and manage supply chain processes domain, which accounts for 15–20% of the MB-330 exam. Microsoft does not publish an official question count, but from its 100-minute exam (~40–65 total, ~6–13 in this domain), expect 2–4 from this objective — we provide 55 practice questions to prepare you well beyond it. (estimate)

55questions here

11free pages

15concepts

15–20%of the exam

Questions 21–25

21foundation · easy
In Dynamics 365 Supply Chain Management, which document is typically created from an approved purchase requisition to formally order goods from a vendor?
Select an answer first
22expert · medium
A company regularly purchases a specific component from multiple vendors. They want to streamline the bidding process by sending RFQs to a predefined list of vendors, and then automatically create a purchase agreement with the winning vendor for a one-year term. What should you do?
Select an answer first
23foundation · easy
What is the purpose of a purchase agreement in Dynamics 365 Supply Chain Management?
Select an answer first
24foundation · easy
In Dynamics 365 Supply Chain Management, which feature allows a vendor to confirm a purchase order online?
Select an answer first
25expert · hard
A company has a purchase order for 1,000 units with a delivery schedule of 500 units on the 1st and 500 units on the 15th. The vendor delivers 500 units on the 1st, but the receiving clerk accidentally posts a product receipt for 1,000 units. The error is discovered before invoicing. What should the receiving clerk do to correct the mistake?
Select an answer first

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Implement Procurement and Sourcing MB-330 Practice Questions (Page 5)

Questions 21–25

In Dynamics 365 Supply Chain Management, which document is typically created from an approved purchase requisition to formally order goods from a vendor?

A company regularly purchases a specific component from multiple vendors. They want to streamline the bidding process by sending RFQs to a predefined list of vendors, and then automatically create a purchase agreement with the winning vendor for a one-year term. What should you do?

What is the purpose of a purchase agreement in Dynamics 365 Supply Chain Management?

In Dynamics 365 Supply Chain Management, which feature allows a vendor to confirm a purchase order online?

Keep studying — Implement and manage supply chain processes