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| Section | Weight | Objectives |
|---|---|---|
| Dynamics of Relationships in Supply Chains | 30% | - Sources of added value through relationships - Portfolio analysis techniques
|
| Improving Supplier Relationships | 15% | - Process improvement and value creation - Sustainability and ethical considerations - Risk management and resilience |
| Approaches to Managing Supplier Relationships | 35% | - Supplier selection and evaluation
|
| Conflict and Dispute Resolution | 20% | - Approaches to negotiation and resolution
|
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NEW QUESTION # 176
A competitive advantage can be gained by doing what?
Answer: C
Explanation:
The correct answer is 'Building better relationships with primary stakeholders'. This is a direct quote from the start of chapter 2.2: 'building better relationships with primary stakeholders such as employees, customers, suppliers and communities could lead to increased shareholder wealth by developing a competitive advantage'. The other three options wouldn't give you a competitive advantage; increasing prices would do the opposite, engaging in market research won't give you a competitive advantage unless you do something with that research such as implement a change to your business, and completing formal tenders for everything would be a waste of time and resources- there's no need to tender for low value, low risk items. See p.80
NEW QUESTION # 177
Phone Maker Incorporated is a manufacturer of mobile phones. It is considering investing in a partnership with its supplier of batteries and circuit boards as it wishes to produce new models of its phone more regularly. What is the main driver for Phone Maker Incorporated?
Answer: C
Explanation:
The correct answer is 'reduced product life-cycles'. In this example the reason for entering a partnership is to be able to produce new models of phones more quickly- this is likely because consumers are wanting to change mobile phones more often than they did in the past, so in order to keep up with demand, Phone Maker Incorporated need to produce more phones, more quickly. Drivers of Partnership Sourcing is a key topic in the exam - you can revise these by looking at p.127 in the Study Guide
NEW QUESTION # 178
Which of the following are valid strategies for dealing with conflict? Select THREE
Answer: A,C,D
Explanation:
The three right answers are competing, collaborating and compromising. See the Thomas Kilmann Model on p.87. There are quite a few questions on this in the exam.
NEW QUESTION # 179
A vehicle company has a partnering relationship with the manufacturer of its engines. The manufacturer is considered a key partner and is already involved in product development at the vehicle company in several strategic projects. The car company and engine manufacturer have integrated systems for a just-in-time (JIT) delivery. Is this an example of a significant integration partnership?
Answer: B
Explanation:
Comprehensive and Detailed Explanation:
The described relationship includes:
* Joint Product Development:Collaborative involvement in strategic projects indicates a deep partnership.
* Integrated Systems:JIT delivery systems require synchronized operations, reflecting significant integration.
These elements are hallmarks of a significant integration partnership.
Reference:
"Strategic Supply Chain Partnership"-ResearchGate: Strategic Supply Chain Partnership
NEW QUESTION # 180
Fashion buyer Kamal Sumai is working closely with a key overseas supplier and is monitoring and forecasting cost volatility within the fabric market. Kamal has decided it is the right time to raise a purchase order with his supplier, for a greater quantity of fabric than he currently needs. Kamal is attempting to avoid an imminent pricing increase. What is this tactic known as?
Answer: C
Explanation:
Comprehensive and Detailed Explanation:
Forward buyinginvolves purchasing goods in advance of actual need, often in larger quantities, to take advantage of favorable pricing or to hedge against anticipated price increases. This strategy is commonly used in volatile markets to stabilize costs and ensure supply continuity.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 181
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