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CIPS - Supplier Relationships (L4M6) paper *5.
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1.
Which methods can help an organization reduce inventory costs and improve warehouse space efficiency? Select TWO applicable approaches.
2.
Which mnemonic represents the criteria for setting joint objectives in a partnership relationship?
3.
Which market structure presents the least obstacles for new entrants?
4.
In which situation is partnership sourcing most beneficial?
5.
Copper wire is crucial to Steel Ltd's flagship product, with limited viable alternatives. The cost of Copper wire is closely linked to the price of cobalt, which is projected to rise significantly in the next three months. Given the customer base's sensitivity to price fluctuations, how should the procurement manager respond?
1. Inform internal stakeholders
2. Collaborate with the supplier to mitigate the price increase
3. Pass the price increase on to customers
4. Initiate a win-lose negotiation with the supplier
6.
What is the role of the Common Procurement Vocabulary (CPV) in public procurement within the European Union?
7.
A senior buyer creates a list of all stakeholders involved in a project. What action is this?
8.
Which model explains the phases an individual goes through when resisting change?
9.
What is central to understanding the sources of competitive advantage?
10.
Gordon, category manager for electronic components at Machachari Ltd., proposes consolidating suppliers to save costs by focusing on the best-performing ones. Given Machachari Ltd. sources components from 240 suppliers, what should be the next step?
11.
Which indicator measures the effectiveness of investments in buyer-supplier relationships?
12.
Shell Inc. buys small, low-value MRO items from multiple suppliers. What procurement methods should they apply? Select two.
13.
Cosmas, VP of supply chain at Milan Ltd., is assessing the cultural alignment of Bunde Corp. for a strategic partnership. What aspect of Bunde's culture is most relevant in this case?
1. Power
2. Role
3. Task
4. People
14.
Foam care, a soap-making company, faces issues with Francis, a supplier of coconut oil, regarding delivery and quality. What should Foam care's procurement manager do first?
15.
What are the objectives of identifying potential suppliers? Choose TWO that apply.
16.
In which scenarios would a cross-functional team typically participate?
1. Developing a procurement strategy
2. Straight re-buy orders
3. Purchase of low value items
4. Establishing a new business unit
17.
According to Lambert et al.'s partnership model, Type 1 partnerships are characterized by which features? Select TWO.
18.
What does STEEPLE analysis assess?
19.
How can procurement increase value for the buying organization between tender evaluation and contract award? Choose TWO.
20.
Tesco and Carrefour, two prominent European supermarket chains, have forged a long-term partnership aimed at leveraging their collective expertise and sourcing capabilities. This collaboration seeks to achieve substantial cost savings in the non-food goods sector, spanning areas like temporary staffing, logistics, store infrastructure, marketing, human resources, and information technology. Despite this partnership, both companies will maintain their independence and continue to pursue their individual business strategies. What type of partnership have Tesco and Carrefour established?
21.
Fufu Ltd has long prioritized supplier relationship management within its procurement strategy. Leveraging the Kraljic model, the Fufu procurement team adeptly categorizes products and services, tailoring relationships with suppliers accordingly. To enhance supplier relationships, a cross-functional team convenes to craft actionable plans. What additional tools or methodologies complement the Kraljic supply positioning matrix in devising impactful strategies for supplier relationship management?
