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L5M6 Category Management - paper *11.
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1.
Category Management and Strategic Sourcing are terms which are interchangeable. Is this statement TRUE?
2.
Sam is a Procurement Specialist within the Construction Category of a large organisation. He is responsible for a sub-category of work which includes procuring skilled labour for work within the Construction Industry. Sub-categories can also be known as what within a Category?
3.
Which of the following is an example of a supply chain risk? Select TWO
4.
Rod Dick is Procurement Manager and is completing a Risk assessment on his supply chain. He is using a matrix which categorises the likelihood and severity of risks on a scale of 1-5. He has identified that one particular risk has a score of 2. Which category of risk would this fall into?
5.
The objective of negotiation with a supplier is to ensure the Five Rights of Procurement. Which of the following are part of the Five Rights? Select THREE
6.
Which of the following are key components to the success of a CFT (cross-functional team)? Select TWO
7.
Which of the following form part of Cialdini's 7 Principles of Persuasion? Select THREE
8.
CEB Research states that there are 6 competencies which drive strategic performance in Procurement. The ability to stay calm under pressure and handle criticism is which of the following competencies?
9.
. Which of the following approaches to managing cost, common in Category Management, results in the most reduced costs from suppliers and increased value?
10.
Cycle Crazy is a leading manufacturer of bicycles. Which of the following would be considered direct costs for this organisation? Select TWO
11.
Robert works for an online retailer and has recently completed a Pareto analysis of common issues his customers face. He has discovered that of the 10 most common reasons for complaint, the top two reasons are issues with the website and errors in product codes. James will present his findings to senior management. However, he is aware that there are some weaknesses to conducting a Pareto analysis. Which of the following are true? Select TWO
12.
Boris In. requires raw materials to be delivered from suppliers. One particular ingredient is a high supply risk and the strategy of the company is to hold inventory as a contingency. Which type of item is this?
13.
Fidel is a Category Manager within a large agricultural company which has over 10 categories. He believes that the Category with the largest spend (in £) is the most important category to the business. Is he correct?
14.
Bob is a potato farmer from Devon. He sells his potatoes to many local customers including restaurants, wholesalers and manufacturing firms who produce chips and crisps. For one customer, Ted is keen to drive a premium price for his potatoes as he is confident the customer can afford to pay a higher price. What type of customer is this to Bob?
15.
When using the Kraljic Matrix to analyse the category of item, which of the following categories does Kraljic recommend be further analysed in conjunction with a comparison of the buyer's strength vs supply market strength?
16.
A 'should cost' analysis and value analysis can be completed on items procured by a buyer. Which of the following categories of spend are these tools most applicable for?
17.
What is a 'black swan' event?
18.
Which of the following are potential consequences for an organisation which fails to identify and address risk? Select TWO
19.
Porter's 5 forces is a useful tool to analyse key factors which affect the marketplace and determine the profitability of organisations which operate within that market. Which of the following is not one of the forces?
20.
Polygon Ltd is a buyer of components. Jeff, a Category Manager at Polygon is analysing buyer strength in this marketplace which will help him determine his procurement strategy for the next year. Which of the following would increase buyer strength?
21.
What name is given to an item or business which has both low market share and low growth?
22.
Which of the following BCG matrix quadrants, is also known as “problem child”?
23.
According to studies completed by Reeves, Moose and Venema in 2014, which of the following was proven to be true with regards to the BCG matrix?
24.
Which of the following parts of a SWOT analysis summarise activities and characteristics which are internal to the business? Select TWO
25.
Which of the following forms of historical data can be used to inform Category Management expenditure? Select THREE
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