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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Dynamics of Relationships in Supply Chains | 30% | - Sources of added value through relationships - Portfolio analysis techniques
|
| Topic 2: Conflict and Dispute Resolution | 20% | - Sources of conflict in relationships - Approaches to negotiation and resolution
|
| Topic 3: Approaches to Managing Supplier Relationships | 35% | - Relationship management strategies
|
| Topic 4: Improving Supplier Relationships | 15% | - Sustainability and ethical considerations - Process improvement and value creation - Risk management and resilience |
>> Reliable L4M6 Test Topics <<
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NEW QUESTION # 199
What is a disadvantage of including qualitative KPIs into a contract?
Answer: C
Explanation:
The correct answer is 'They are hard to measure' p.103
NEW QUESTION # 200
Red Manufacturing work with around 40 different suppliers. One of these suppliers is Blue Business. Red Manufacturing order regularly from Blue Business, and have never had any issues with their performance.
The materials Blue Business supply are of low value and there are several other suppliers of these materials in the market. What type of relationship should Red Manufacturing seek to have with Blue Manufacturing?
Answer: B
Explanation:
The correct answer is 'arms length'. This is a tactical purchase (as it is low value) and keeping the supplier at arms-length means that Red Manufacturing could possibly exploit them to reduce their prices (think back to the Kraljic matrix and where Blue Business would likely fall). A Partnership or Single- Source relationship requires investment into the relationship, and as the products are low value and Red Manufacturing have a lot of other suppliers, they should not be investing time in developing that relationship with Blue Business. An adversarial relationship wouldn't be advantageous as it may lower the performance of the supplier. See the relationship spectrum on p.5 - this is a hot topic for the exam
NEW QUESTION # 201
Kinky Boots Ltd provides high heeled shoes in large sizes. Their target market are Drag Queens. There are a couple of rival shoe manufacturers in this market and Kinky Boots Ltd offer the cheapest high heels. What strategy is Kinky Boots Ltd employing in terms of competitive advantage?
Answer: C
Explanation:
This is 'cost focus' - Kinky Boots is both focusing on being a cost leaser (by providing the cheapest products) and focusing on a niche market (drag queens). When these two strategies are combined it is called 'cost focus'. There's a couple of questions on Porter's Generic Strategies in the exam- there's a useful diagram of this on P.13
NEW QUESTION # 202
Rachel and Jacky work in the procurement department of Foddy Foods Ltd. They have been told by their CEO to build better relationships with strategic suppliers as this will create value for money for the company. In what ways can value for money be achieved by building strong relationships with suppliers? Select TWO.
Answer: B,C
Explanation:
Supplier relationships can result in value for money in the reduction of waste and in innovation developed as part of collaborative projects. Remember that in CIPS waste doesn't necessarily mean physical waste (as in stuff you don't want any more). There are 7 types of waste including waiting, inventory, transportation etc. So when you develop a relationship with a supplier, this can reduce waste (e.g. you may be able to get deliveries quicker by integrating your ordering system with the supplier's, or you might reduce transportation by agreeing a Consignment stock). Having a good relationship with a supplier isn't necessarily going to get you a reduction in cost or better payment terms. See p.70 for more details on this- there's a short list of ways in which good supplier relationships can bring value for money to a business.
NEW QUESTION # 203
A company supplies IT equipment and buys most of its components from first-tier suppliers in the UK. It wants to analyse its supply market to develop the supply chain and is going to review the main factors that have an influence. The company wants to use the STEEPLED external environmental analysis framework to achieve the best result. Which of the following STEEPLED factors is most likely to have the greatest effect?
Answer: A
Explanation:
In the context of the IT equipment industry,Technologicalfactors are paramount. The rapid pace of technological advancement influences product development, supply chain processes, and market competitiveness. Utilizing the STEEPLED framework, technological considerations would significantly impact the company's supply chain strategy.
As per the CIPS Intelligence Hub:
"STEEPLED analysis is a strategic planning methodology that can be used across all business functions to discover, evaluate, organise, and track external risk."
- CIPS Intelligence Hub: Using STEEPLED analysis to develop your supply chain
NEW QUESTION # 204
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