CIPS – Supplier Relationships (L4M6) paper *5

Which TWO of the following methods can help an organization lower its inventory holding costs while making better use of warehouse space?

In the context of partnership relationships, which acronym outlines the key criteria for setting effective joint objectives?

Which market type presents the fewest barriers for new entrants?

Partnership sourcing is most effective when applied under which of the following circumstances?

Component A is crucial to XYZ Ltd’s main product, and alternative sources are limited. The supplier relationship is long-standing, but the component’s cost—linked to cobalt—is expected to rise sharply in the next quarter. Given that XYZ’s customers are highly price-sensitive, how should the procurement manager respond?

In the context of public procurement across the European Union, what is the primary function of the Common Procurement Vocabulary (CPV)?

When a senior buyer compiles a list of all individuals or groups connected to a project, this activity is referred to as...?

The emotional journey a person experiences when facing resistance to change is illustrated by which of the following models, originally designed to explain the stages of grief?

Which concept is central to understanding where a business derives its competitive advantage?

Jeffrey, a category manager at LM Ltd, recommends reducing the number of suppliers and sourcing standardized electronic components only from top-performing ones. Considering the company currently purchases 22,000 parts from 240 suppliers with little quality or price difference, is this suggestion justifiable?

Which financial metric is used to assess the return gained from efforts put into developing and maintaining relationships with suppliers?

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?