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| Section | Objectives |
|---|---|
| Partnering and Collaboration | - Strategic partnerships
|
| Dynamics of Supplier Relationships | - Nature of buyer-supplier relationships
|
| Managing Supplier Relationships | - Supplier performance management
|
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NEW QUESTION # 18
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: A
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 # 19
Which of the following are not stages of team development? Select TWO.
Answer: A,E
Explanation:
This question is very, very similar to a real exam question and is a really mean one. The CIPS study guide describes stages of team development as forming, storming, norming and performing. Of those listed in the book only forming is listed above. What the textbook fails to tell you is that some people add on two additional stages to this model which are mourning and adjourning. I strongly recommend doing some further reading on this (it's called the Tuckman Group Development Model) as it comes up a lot in the exam and the study guide doesn't really go into enough detail.
NEW QUESTION # 20
Which one of the following would constitute a succession issue when terminating a relationship?
Answer: D
Explanation:
Comprehensive and Detailed Explanation:
Succession issues pertain to the challenges associated with ensuring the uninterrupted supply of goods or services when transitioning from one supplier to another. Continuity of supplies is a primary concern, as any disruption can impact operations, customer satisfaction, and revenue. Effective succession planning involves:
* Identifying Alternative Suppliers:Ensuring that backup suppliers are in place and capable of meeting requirements.
* Knowledge Transfer:Facilitating the transfer of critical information and processes to new suppliers.
* Inventory Management:Maintaining adequate stock levels during the transition period.
Other options listed, such as processing penalties, deletion of old specifications, and payment of old invoices, are administrative tasks that, while important, do not directly relate to succession planning.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 21
Laura is working with suppliers on the design of a component for a new boiler. One of the current suppliers suggested manufacturing the component from plastic they recently developed and patented, rather than commonly used brass. What competitive force is this supplier creating in the market to affect competition?
Answer: C
Explanation:
Comprehensive and Detailed Explanation:
In Porter's Five Forces framework, thethreat of substitutesrefers to the availability of products or services that can perform the same function as the industry's product. The supplier's suggestion to use a newly developed plastic component instead of the traditional brass one introduces a substitute product. This alternative can potentially change the dynamics of the market by offering different benefits, such as cost savings or improved performance, thereby affecting competition.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 22
A buyer should concentrate their efforts on managing the start and onboarding stage of a supplier relationship by ...
* Keeping all information and plans confidential from the supplier
* Pre-qualifying and assessing the supplier's capability
* Focusing solely on the buying organisation's goals
* Building a positive and trusting relationship
Answer: B
Explanation:
Comprehensive and Detailed Explanation:
During the onboarding stage:
* Pre-qualifying and Assessing Capability:Ensures the supplier can meet the organization's requirements.
* Building Trusting Relationships:Establishing open communication and trust sets the foundation for a successful partnership.
Keeping information confidential (Option 1) and focusing solely on the buyer's goals (Option 3) can hinder collaboration.
Reference:
"Supplier Selection Process"- CIPS: Supplier Selection
NEW QUESTION # 23
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