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Rivalry between suppliers is more likely to be intense in which of the following situations?
Rivalry between suppliers is more likely to be intense in which of the following situations?A . 1 and 2 onlyB . 2 and 4 onlyC . 1 and 3 onlyD . 1 and 4 onlyView AnswerAnswer: B Explanation: Intense rivalry occurs when suppliers are equally balanced and face high barriers...
A comprehensive approach to managing the termination of a contractual relationship would include ...
A comprehensive approach to managing the termination of a contractual relationship would include ...A . Attacking the personalities, not the problemB . Setting aside the value of existing work done by both partiesC . Giving qualitative feedback onlyD . Setting remedies and compensation for contractual breachesView AnswerAnswer: D Explanation: Effective...
What portfolio analysis category would be appropriate?
Philip is working with a supplier where the annual spend is low but the market risk is high. What portfolio analysis category would be appropriate?A . StrategicB . LeverageC . Non-criticalD . BottleneckView AnswerAnswer: D Explanation: Bottleneck items pose high risk despite low spend. Effective management of these suppliers minimizes...
What would be the buyer's initial objective from the cost modeling activity?
The executive board of a manufacturing company is requesting support from the procurement team because the company needs to improve its levels of profitability. After segmenting the overall spend by value and risk of supply, the senior buyer for the company is planning to undertake a cost modeling activity. This...
Which of the following is a stage in the relationship lifecycle?
Which of the following is a stage in the relationship lifecycle?A . DeclineB . GraduationC . MeasuringD . TestingView AnswerAnswer: A Explanation: The relationship lifecycle typically involves phases such as initiation, development, maturity, and decline. Decline is the final stage where the relationship's effectiveness diminishes, necessitating review or termination. This...
What would be the most beneficial way for them to initially narrow down the supply options?
A buyer is intending to purchase a new product for their business; however, the market has a large number of suppliers. What would be the most beneficial way for them to initially narrow down the supply options?A . Look at lowest-cost suppliers onlyB . Predefine minimum standards suppliers must meetC...
Is this an example of the threat of substitutes, one of the five forces of competition described by competitive forces theory?
A competitor develops an alternative type of vacuum cleaner to one produced by your organization. Is this an example of the threat of substitutes, one of the five forces of competition described by competitive forces theory?A . Yes, customers may switch to alternative productsB . Yes, there are no barriers...
How would a buyer measure value for money from a relationship with a new supplier for goods?
How would a buyer measure value for money from a relationship with a new supplier for goods?A . Audit of how suppliers promiseB . Lowest possible costC . Balance of quality and costD . Quality and volume of goodsView AnswerAnswer: C Explanation: Value for money is achieved through a balance...
Products or services that are more suitable for partnership sourcing match which of the following criteria?
Products or services that are more suitable for partnership sourcing match which of the following criteria?A . 1 and 2 onlyB . 2 and 3 onlyC . 1 and 3 onlyD . 2 and 4 onlyView AnswerAnswer: A Explanation: Partnership sourcing is suitable for products that contribute to the buying...
What is the primary aim of this policy?
Kyle Grant is a procurement director at ATSS Ltd and has introduced a new policy within the procurement function. The policy requires the procurement function to obtain quotations from multiple suppliers if a contract is worth over £10,000. What is the primary aim of this policy?A . To deliver an...
