A chief procurement officer (CPO) is asked by the company corporate travel department to present strategies and tactics related to the acquisition of travel services. Which of the following approaches will BEST demonstrate an understanding of the travel department's needs?
A supply manager is planning to conduct negotiations with three potential suppliers, one of which will be selected to provide components for a new product line. A number of internal stakeholders have asked to participate in the negotiations. However, most of the stakeholders have not been involved with the sourcing process up to this point. In this situation, which of the following would be the BEST approach for the supply manager to take?
A supply manager Is conducting the following activities:
•Mapping between category codes and category maps
•Normalizing supplier information
•Performing supplier mapping
•Refining mapping with financial systems data
Which of the following is the supply manager engaged in?
DEF, Inc. wants to ensure adequate material supply for an emerging product with high quality specifications for the raw materials. Given this situation, which of the following would be the BEST course of action for DEF to take?
Which of the following is MOST important to review before employing a low-cost country sourcing (LCCS) strategy in a remote region located in a distant geographical location?
A research company develops a tomato that grows in cold weather. The company agrees to sell ten thousand seeds to a broker for $5,000. However, an error is made on the contract which
misstates the price as $4,000. The research company and broker both sign the contract without noticing the error. Some weeks later, the broker discovers the error and refuses to pay more than
$4,000. In this situation, the FIRST course of action for the research company to resolve the dispute is to establish with the broker that
MNO, Inc. has been one of XYZ Company's most valuable customers for a number of years. During a formal competitive bid event for a new product introduction, MNO becomes a supplier to XYZ. In this situation, which of the following should be of GREATEST concern to these organizations?
MNO, Inc. purchases benchmarking data services from Supplier X, which is the sole source for data relevant to MNO's industry. In recent months, Supplier X's pricing has increased and its technical support has worsened. MNO's supply manager is preparing to negotiate for contract renewal with Supplier X and needs to resolve these concerns. Which of the following is the BEST course action for the supply manager to take before conducting negotiations?
After working for several years at ABC, Inc.—a large manufacturing company—Smith moves to a senior position at XYZ, a smaller firm which is part of ABC's family of companies. In an effort to lower costs, Smith begins negotiations with a supplier that sells to both ABC and XYZ. While at ABC, Smith was able to negotiate very favorable contracts for parts and services. However, Smith is unable to obtain as favorable terms for XYZ with the same supplier.
To improve XYZ's position, which of the following is the BEST course of action for Smith to take?
Which of the following refers to the process of generating information about the types of items sourced and their cumulative dollar value, to use for strategic and operational purchase planning?
