CIPS – Supplier Relationships (L4M6) paper *5

Which approaches can assist an organization in reducing inventory costs and maximizing warehouse space utilization? Choose TWO applicable methods.

Which of the following is the mnemonic that describes the criteria of setting joint objectives in a partnership relationship?

Which market type presents the fewest barriers for new entrants?

Partnership sourcing proves exceptionally efficient when implemented in which of the following contexts?

Component A plays a pivotal role in XYZ Ltd's flagship product, with few viable alternatives or alternate sources available. Maintaining a longstanding partnership with its current supplier, XYZ Ltd relies heavily on the stability of this relationship. The cost of Component A is intricately tied to the price of cobalt, its primary raw material, which is anticipated to experience a significant surge in the coming three months. In light of the customer base's acute sensitivity to fluctuations in XYZ product pricing, how should the procurement manager at XYZ Ltd strategize their approach?

What role does the Common Procurement Vocabulary (CPV) play in facilitating public procurement within the European Union?

A senior buyer lists out all the stakeholders who are related to the project. This action is known as...?

An individual goes through various phases when resisting change. This is shown by the Kubler-Ross model. The Change Curve is based on a model originally developed in the 1960s by Elisabeth Kubler-Ross to explain the grieving process. Since then it has been widely utilised as a method of helping people understand their reactions to significant change or upheaval.

What lies at the core of analyzing the roots of competitive advantage?

Jeffrey, the category manager for electronic components at LM Ltd, a leading aerospace manufacturer, suggests consolidating suppliers and sourcing components exclusively from those with the highest potential. Given that LM Ltd procures over 22,000 electronic components from 240 suppliers, each offering relatively standardized products with minimal variance in quality and pricing, Jeffrey's proposal warrants consideration.

What indicator gauges the effectiveness of investing in building, nurturing, and sustaining the buyer-supplier bond?

Express Inc. procures numerous small and low-value MRO items, readily accessible from various suppliers in the market. Which two procurement approaches are optimal for these items?

Judy, the newly appointed VP of supply chain management at XYZ Ltd., is determined to revamp the supply chain strategy to maintain a competitive edge. Following a thorough review, she and her procurement team have streamlined the supplier base to 225 candidates. From this pool, they opt for PCR Corp., a longstanding partner with XYZ Ltd., for a strategic partnership. Recognizing the potential risks of cultural misalignment, Judy personally visits PCR's premises to assess their organizational culture. She notes that PCR exhibits a structured environment with clearly defined roles and responsibilities for its employees. Additionally, the company fosters a culture of collaboration through the formation of cross-functional teams, particularly for addressing specific challenges such as new product development. In essence, PCR Corp. demonstrates a structured yet flexible organizational culture that emphasizes both accountability and teamwork.

Soapure, a small soap-making enterprise with six years of operation, relies heavily on coconut oil as a primary ingredient across its product range, encompassing both solid and liquid variants. Saville, a major importer of coconut oil from Africa, has engaged in a contractual agreement with Soapure to provide a predetermined quantity of coconut oil on a monthly basis for one year. While the initial two months proceeded smoothly, the third month encountered challenges concerning both delivery punctuality and oil quality. This hiccup has led Soapure to question Saville's dependability and adherence to the terms of the contract. In this scenario, what should Soapure's procurement manager prioritize as the initial course of action?

Which of the following objectives justify the identification of potential suppliers? Choose TWO options that apply.

In which of the following activities would a cross-organizational team typically participate?

According to Lambert et al.'s partnership model, Type 1 partnership relationships are characterized by which of the following attributes? Choose TWO options that apply.

STEEPLE analysis is employed to assess which of the following?

How can procurement enhance value for the buying organization between tender evaluation and contract award? Choose TWO options that apply.

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?

XYZ Ltd has long prioritized supplier relationship management within its procurement strategy. Leveraging the Kraljic model, the XYZ 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?