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| Section | Objectives |
|---|---|
| Supplier Segmentation and Categorisation | - Supplier classification criteria - Kraljic matrix and portfolio analysis - Strategic, tactical, and transactional suppliers |
| Supply Chain Context | - Stakeholder relationships in procurement - Understanding the supply chain environment - Supplier market analysis |
| Supplier Risk and Resilience | - Risk identification and assessment - Business continuity planning - Supplier vulnerability analysis - Risk mitigation strategies |
| Developing Supplier Relationships | - Supplier relationship management (SRM) frameworks - Trust and commitment in supplier partnerships - Partnership models and collaboration approaches - Relationship lifecycle stages |
| Managing Supplier Performance | - Scorecards and supplier audits - Key Performance Indicators (KPIs) - Continuous improvement processes - Performance measurement tools and techniques |
| Ending and Reconfiguring Supplier Relationships | - Managing relationship dissolution professionally - Exit strategies and transition planning - Supplier base rationalisation - Contract termination processes |
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NEW QUESTION # 243
The Kraljic Model is most useful for which aspect of procurement?
Answer: D
Explanation:
The Kraljic model "plays a key part in category management" p.19 of the textbook. Category Management = the spend in an organisation, broken down into categories of related products (e.g. IT, facilities management, marketing). Each of these categories could be plotted on the Kraljic Matrix.
NEW QUESTION # 244
What is a disadvantage of including qualitative KPIs into a contract?
Answer: B
Explanation:
The correct answer is 'They are hard to measure' p.103
NEW QUESTION # 245
A buyer has a requirement to purchase 1,000 widgets for a manufacturing company. The widgets are critical for the next stage of the manufacturing process. What would be the key selection criterion for this buyer?
Answer: B
Explanation:
When procuring critical components essential for the continuity of manufacturing processes, timely delivery becomes paramount. Delays can halt production lines, leading to significant financial losses.Therefore, the supplier's ability to meet delivery deadlines is the key selection criterion, as emphasized in the CIPS L4M6 study guide.
NEW QUESTION # 246
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: D
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 # 247
ABC is a company which sources a vital component from a supplier. There are only a few suppliers in the industry and without this component, ABC would not be able to produce their final product. What type of relationship should ABC seek to develop with their supplier?
Answer: B
Explanation:
As the component is vital to their business, ABC should seek a collaborative relationship with the supplier. There are three types of collaborative relationship (co-destiny, partnership and strategic alliance). Of these only strategic-alliance is given as an option. Remember - strategic purchase = collaborative relationship with supplier. There are many questions on the Relationship Spectrum on the exam. See p.5 for more details
NEW QUESTION # 248
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