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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Sourcing | 30% | - Supplier Management
|
| Topic 2: Category Management | 25% | - Category Strategy Development
|
| Topic 3: Contract Management | 15% | - Contract Administration
|
| Topic 4: Negotiation | 15% | - Negotiation Preparation
|
| Topic 5: Supply Chain Management | 15% | - Supply Chain Strategy
|
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NEW QUESTION # 228
Planning and negotiating a contract while considering its impact on a supplier is an example of which of the following?
Answer: B
Explanation:
Planning and negotiating a contract while considering its impact on a supplier is an example of supplier relationship management. This practice involves maintaining a positive and strategic relationship with suppliers, ensuring mutual benefits, and fostering collaboration. By considering the supplier's position, the buying firm can negotiate terms that support a long-term, sustainable partnership.
References:
* "Supplier Relationship Management: Unlocking the Hidden Value in Your Supply Base" by Jonathan O'Brien.
* ISM guidelines on supplier relationship management.
* CIPS resources on strategic supplier management.
NEW QUESTION # 229
During negotiations with a supply manager from FGH Inc., a supplier states that if FGH buys the 200 gigabyte version of its software package at a price of $700, the supplier will include a never-before-sold malware license valued at $147. FGH needs both the malware and the software package. If the supply manager agrees to the offer, FGH may claim a
Answer: C
Explanation:
* Supplier Offer: The supplier offers the 200-gigabyte software package at $700, including a malware license valued at $147.
* FGH's Needs: FGH needs both the software package and the malware license.
* Cost Avoidance: By accepting the supplier's offer, FGH avoids the additional cost of purchasing the malware license separately. Cost avoidance refers to actions taken to prevent incurring costs in the future.
References
* ISM. (n.d.). Understanding Cost Savings and Cost Avoidance.
* CIPS. (n.d.). Cost Management in Procurement.
NEW QUESTION # 230
A state university is looking to purchase equipment to scan books and manuscripts into a digital format.
Several variations of this equipment exist in the marketplace, and the university has not decided which format is best for their needs. There is also a possibility that the cost for additional storage requirements will be shared with the state. Given this situation, which of the following is the FIRST course of action the university should take?
Answer: C
Explanation:
* Identification of Need: The university needs to purchase equipment to digitize books and manuscripts.
* Market Variations: Several variations of the required equipment exist in the marketplace, indicating a need to understand the different options available.
* Undecided Format: The university has not decided which format is best, necessitating information gathering on different formats and their benefits.
* Cost Sharing Possibility: There is a possibility that the cost for additional storage will be shared with the state, adding another layer of complexity.
* First Course of Action: In such situations, the most appropriate first step is to gather comprehensive information on the available options. An RFI is a tool designed to collect information from suppliers about their products and services. It helps the university understand what is available in the market, the capabilities of different suppliers, and the possible costs and benefits of various options.
* Next Steps: After the RFI, the university can better determine their specific needs and proceed with
* more targeted procurement processes such as an RFP.
References
* ISM Glossary of Key Supply Management Terms
* CIPS Procurement and Supply Cycle
NEW QUESTION # 231
A supply manager receives negative feedback from internal stakeholders about several suppliers. However, the scorecards for these suppliers have been positive over the past few quarters, and any diminished performance is not reflected. Which of the following MOST likely explains this situation?
Answer: A
Explanation:
* Review Stakeholder Feedback: Understanding the nature of the negative feedback is the first step.
* Analyze Scorecard Metrics: If the scorecards have been positive, but the feedback is negative, it suggests a misalignment.
* Identify Changes in Requirements: Stakeholders' needs and expectations might have evolved, and these changes may not be reflected in the current scorecard metrics.
* Adjust Metrics Accordingly: The scorecards should be updated to align with the new requirements to ensure they accurately reflect supplier performance.
References
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.
* van Weele, A. J. (2018). Purchasing and Supply Chain Management: Analysis, Strategy, Planning and Practice. Cengage Learning.
NEW QUESTION # 232
Which of the following refers to a method of formally evaluating suppliers, conducting site visits, and providing supplier training?
Answer: B
Explanation:
Supplier development refers to activities undertaken by a buying organization to improve the performance of its suppliers. This typically involves formally evaluating suppliers to understand their capabilities, conducting site visits to observe operations and identify areas for improvement, and providing training to help suppliers meet the buying organization's standards and requirements. The goal is to enhance the supplier's performance, leading to improved quality, cost, and delivery times, ultimately benefiting the entire supply chain.
References:
* Supplier Evaluation and Performance Excellence: A Guide to Meaningful Metrics and Successful Results by Sherry Gordon.
* CIPS (Chartered Institute of Procurement & Supply) guidelines on supplier development.
NEW QUESTION # 233
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