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| Section | Objectives |
|---|---|
| Dynamics of Supplier Relationships | - Nature of buyer-supplier relationships
|
| Partnering and Collaboration | - Supply chain integration
|
| Managing Supplier Relationships | - Contract and relationship control
|
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NEW QUESTION # 72
A large manufacturer is reviewing its most important supplier relationships and is considering introducing a partnership approach with its top-tier suppliers. Which of the following characteristics will this approach incorporate, compared to a more traditional contracting arrangement?
Answer: D
Explanation:
Partnership arrangements promote shared responsibility and joint ownership of outcomes. CIPS highlights that partnerships typically involve:
* Shared risks and rewards
* Joint performance measurement
* Continuous performance review
* Collaborative problem resolution
Traditional contracts often place risk entirely on the supplier, rely on adversarial pricing, and use infrequent reviews. Therefore, risk sharing is a defining feature of a partnership.
L4M6 Reference:
* Learning Outcome 3: Understand approaches to managing supplier relationships
* Topic: Partnership characteristics and governance
* CIPS L4M6 Study Guide - Risk allocation and collaboration
NEW QUESTION # 73
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: A
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 # 74
Which of the following is an advantage for the suppler of entering into a partnership with a buyer?
Answer: C
Explanation:
The correct answer is 'They may gain an increased volume of business'. The other options are just not true. See p.130 for advantages and disadvantages of partnerships from both the buyer and supplier's perspective. This is a hot topic for the exam.
NEW QUESTION # 75
Value for money is often described at the 'three Es'; economy, efficiency and effectiveness. However some people consider a 4th E which refers to the public sector. What is the fourth E?
Answer: C
Explanation:
Equity is the fourth E- this means the extent to which the service is available. See p.65 for details on the 4 Es
NEW QUESTION # 76
The ABC Analysis, also known as the Pareto Analysis, is a technique that can be used by procurement to which purpose?
Answer: B
Explanation:
ABC / Pareto is a "Portfolio Analysis Technique to assess the relationships in a supply chain". This, along with the Kraljic Matrix are two examples of "Supplier Positioning Models". See chapter 2.1 p.17 for more details on this
NEW QUESTION # 77
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