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| Section | Objectives |
|---|---|
| Ending and Reconfiguring Supplier Relationships | - Supplier base rationalisation - Exit strategies and transition planning - Managing relationship dissolution professionally - Contract termination processes |
| Managing Supplier Performance | - Continuous improvement processes - Key Performance Indicators (KPIs) - Performance measurement tools and techniques - Scorecards and supplier audits |
| Developing Supplier Relationships | - Supplier relationship management (SRM) frameworks - Relationship lifecycle stages - Partnership models and collaboration approaches - Trust and commitment in supplier partnerships |
| Supply Chain Context | - Stakeholder relationships in procurement - Supplier market analysis - Understanding the supply chain environment |
| Supplier Segmentation and Categorisation | - Strategic, tactical, and transactional suppliers - Supplier classification criteria - Kraljic matrix and portfolio analysis |
| Supplier Risk and Resilience | - Business continuity planning - Risk mitigation strategies - Risk identification and assessment - Supplier vulnerability analysis |
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NEW QUESTION # 120
A local government procurement team is undertaking a full review of their current internal working processes.
The team of buyers currently have a partnership-style relationship with their routine suppliers. Is this the best relationship style to use?
Answer: A
Explanation:
Routine suppliers typically supply low-value, low-risk items. Maintaining partnerships in such cases is inefficient since alternative suppliers are readily available. Adopting a transactional or adversarial relationship would be more appropriate.
NEW QUESTION # 121
David is sourcing a new cleaning contract as he is not impressed with his current cleaning company's performance. He believes that his current supplier has been overcharging him, and due to budget cuts, he is keen to secure a lower price than what he is paying now. His Manager has suggested using an e-auction as the procurement method. Is this the correct way forward?
Answer: B
Explanation:
The correct answer is 'No- a reverse e-auction would be more suitable as it will secure the lowest price'. An E-auction is something like eBay- where bids go up in price. If David wants to secure a lower price, he should use a Reverse E-Auction- where suppliers bid lower than the previous bid in order to win. For example, Supplier 1 offers to fulfil the contract at £50k per year, Supplier 2 can offer to beat this price by bidding £48k per year. Although Reverse E-Auctions may ensure cheaper prices, there are a lot of disadvantages to using this method. See p.21 and p.76 for more information
NEW QUESTION # 122
Beyond Say is a manufacturer of diamond rings.
It sources a lot of different parts to create its products including diamonds, gold, cardboard boxes for the rings to go in, as well as stationary and copier paper for the offices.
Although it doesn't buy many diamonds, these represent a large part of Beyond Say's spend.
Which category of spend would diamonds represent?
Answer: B
Explanation:
This is category 'A' spend in the ABC model - they represent a large value and a small number of purchases / suppliers. See p.17 for more information on the ABC Analysis
NEW QUESTION # 123
The CEO of a business has asked his procurement manager to source new machinery for the factory. This machinery will help create a new line of products which will give the company a competitive edge. The CEO is heavily invested in this procurement activity as profits have been lower than expected this year and this new line of products could help increase profitability. How should the procurement manager include the CEO in the procurement activity?
Answer: B
Explanation:
The correct answer is 'The CEO is a key player- so it is important he is involved early in the process'. The CEO has high power and high interest which puts him in the top right-hand corner of Mendelow's Stakeholder Matrix (p.81). CIPS says Key Players should be involved early in the procurement process (p.82).
NEW QUESTION # 124
What is the correct order for the 5 stages of team development?
Answer: D
Explanation:
Comprehensive and Detailed Explanation:
Bruce Tuckman's model of team development outlines five stages:
* Forming- Team members get acquainted and establish ground rules.
* Storming- Members begin to communicate their feelings but still view themselves as individuals rather than part of the team.
* Norming- People feel part of the team and realize that they can achieve work if they accept other viewpoints.
* Performing- The team works in an open and trusting atmosphere where flexibility is the key and hierarchy is of little importance.
* Adjourning- The team conducts an assessment of the year and implements a plan for transitioning roles and recognizing members' contributions.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 125
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