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L4 M6 > Supplier Relationships > Flashcards

Supplier Relationships Flashcards

1
Q

Which ONE of the following would a buyer want to exploit from a potential new entrant to a market?
a. Smaller distribution network
b. Insurance provision
c. Economies of scale
d. High switching cost

A

c. Economies of scale

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2
Q

In a recently created team, people start to push against the established boundaries and there is a conflict
between team members’ working styles causing some people to feel frustrated. This team is at which stage of
its development?
a. Forming
b. Norming
c. Performing
d. Storming

A

d. Storming

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3
Q

Which ONE of the following is used between stakeholders when protecting intellectual property rights
(IPR)?
a. Non-disclosure agreements
b. Exclusion clauses
c. Patent terms
d. Secrecy Act conditions

A

a. Non-disclosure agreements

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4
Q

An engineering company (EngCo) is becoming concerned by the reducing number of its potential suppliers
of components of X2ZZ, which is vital to the manufacture of its leading products. Over the years, several
suppliers have merged and some have exited the market. Which ONE of the following actions might open up
new suppliers to EngCo through substitute products?
a. Change the specification
b. Ease the commercial terms
c. Shorten the supply chain
d. Relax quality assurance

A

a. Change the specification

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5
Q

A leading pharmaceutical company (PharmCo) is concerned about the impact of market changes on its
product portfolio. Following a recent review, it has highlighted both the tightening regulatory regime around
consumer protection and exchange rate volatility as two key threats. The factors of most concern to PharmCo
are …
a. legislative and economic
b. political and environmental
c. economic and political
d. environmental and legislative

A

a. legislative and economic

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6
Q

Auto Group (AG) is an automotive manufacturer. It is an established business with a strong market share in
its chosen markets, providing vehicles in the mid-range quality segment. AG has decided to launch a new lower
specified vehicle range in the economy vehicle segment. Its strategy is to price low, which it can do because it
can produce the vehicles relatively cheaply due to its previous investments in technology. Its source of
competitive advantage is based on which recognised approach?
a. Product differentiation
b. Cost leadership
c. Brand differentiation
d. Cost reduction

A

b. Cost leadership

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7
Q

Risk management in procurement and supply fundamentally focuses on understanding which of the
following?
1. Security
2. Reward
3. Probability
4. Impact

a. 1 and 3 only
b. 2 and 4 only
c. 3 and 4 only
d. 1 and 2 only

A

c. 3 and 4 only

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8
Q

A procurement officer is creating award criteria for a competitive tender and has decided to evaluate
suppliers based on price and the suppliers’ method statement for delivering the specification. Is this
appropriate?
a. Yes, because a method statement is a requirement in all tenders
b. No, because price is a requirement in all tenders
c. No, because method statements are not easy to evaluate
d. Yes, because these both relate directly to the execution of the contract

A

d. Yes, because these both relate directly to the execution of the contract

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9
Q

Effective cost modelling involves which of the following? Select the THREE that apply.
a. Supplier negotiation
b. Continuity planning
c. Differential pricing
d. Data gathering
e. Data analysis
f. Identify drivers

A

d. Data gathering
e. Data analysis
f. Identify drivers

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10
Q

Which of the following are recognised conflict resolution approaches when dealing with key internal
stakeholders, where a resolution must be agreed? Select the TWO that apply.
a. Avoiding
b. Compromising
c. Accommodating
d. Maintaining
e. Defending

A

b. Compromising
c. Accommodating

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11
Q

At which stage of the relationship life cycle should a buyer focus mostly on monitoring the supplier against
clearly stated standards?
a. Onboarding
b. Performance management
c. Supplier development
d. Mobilisation

A

b. Performance management

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12
Q

Which ONE of the following is the appropriate approach for supplies that have high-cost impact/low-risk
impact characteristics?
a. Competitive tendering
b. Joint venture
c. Spot buying
d. Strategic alliance

A

a. Competitive tendering

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13
Q

For a manufacturing organisation, significant added value can be achieved by maximising supply chain
relationships and in particular by reducing inventory holding quantities. Which ONE of the following is an
approach that such an organisation could use to achieve added value in this way?
a. Value for money (VFM)
b. Contract management (CM)
c. Just in time (JIT)
d. Total quality management (TQM)

A

c. Just in time (JIT)

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14
Q

A global financial services organisation (FSO) has decided to outsource a significant part of its customer
service operation. It has created a shortlist of four possible suppliers. The FSO has a range of specific needs in
respect of service delivery and each will need to be evaluated when the final tenders are received. However,
some of these needs are more important than others. Which ONE of the following will enable the FSO to
undertake an effective evaluation of the final bids from the potential suppliers?
a. Pre-qualification questionnaire
b. Contract terms
c. Request for information
d. Weighted criteria

A

d. Weighted criteria

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15
Q

Power Generators Group (PGG) is a major manufacturer of large industrial diesel generators. Its business
has been significantly impacted in recent years by the advancing government agenda in response to climate
change and new environmental regulations. PGG is mostly impacted by which factors?
1. Economic
2. Political
3. Legislative
4. Social

a. 1 and 2 only
b. 2 and 3 only
c. 3 and 4 only
d. 1 and 3 only

A

b. 2 and 3 only

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16
Q

Accurate cost-modelling is a useful aid for procurement professionals to gain a better understanding of
which of the following?
1. Cost drivers
2. Potential cost savings
3. Cost targets
4. Cost-sharing opportunities

a. 1 and 2 only
b. 2 and 3 only
c. 3 and 4 only
d. 1 and 3 only

A

a. 1 and 2 only

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17
Q

Partnership sourcing is highly effective and should be applied to all types of spend. Is thisstatement TRUE?
a. No, it will only apply to high value and high risk spend
b. Yes, it is well known to drive maximum value on all areas of spend
c. No, it should be implemented on contracts of high value and low risk spend
d. Yes, all suppliers should be treated like partners as it is good ethical practice

A

a. No, it will only apply to high value and high risk spend

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18
Q

A project team has recently been established and team performance is improving. Team members are
now working effectively together as a cohesive unit. This team has now reached the ‘norming’ stage of team
development. Is this statement TRUE?
a. No, this is the forming stage of team development
b. Yes, it has taken a while and trust has now been established
c. No, this is the storming stage of team development
d. Yes, they will stay in this stage until someone leaves

A

b. Yes, it has taken a while and trust has now been established

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19
Q

Partnerships often fail due to changes in the external market environment that impact on both the
procurement organisation and its chosen partner. Which tools could be used to help monitor such changes?
Select the TWO that apply.
a. Pareto analysis
b. Porter’s five forces
c. Whole life costing (WLC)
d. STEEPLE
e. Early supplier involvement (ESI)

A

b. Porter’s five forces
d. STEEPLE

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20
Q

Which of the following are benefits of using a partnering approach with an external supplier? Select THREE
that apply.
a. Sharing risk
b. Quicker decision making
c. Increased knowledge
d. Pooling of resources
e. Autonomy in decision making
f. An adversarial relationship

A

a. Sharing risk
c. Increased knowledge
d. Pooling of resources

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21
Q

Which of the following is not an advantage of using an internal supplier
a. Greater control and less dependence on other parties
b. Potentially lower cost as the product doesn’t carry a supplier margin
c. Intellectual property can be better protected
d. Unless the price is benchmarked there is no guarantee that value for money is being achieved

A

d. Unless the price is benchmarked there is no guarantee that value for money is being achieved

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22
Q

Products and services which are outsourced are most likely to be which one of the following
a. Those which give the organisation competitive advantage
b. Those with a competitive marketplace
c. This which are not core to the business
d. Those from a monopoly market

A

c. This which are not core to the business

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23
Q

The relationship spectrum ranges from competitive at one end to what approach on the other?
a. Partnership
b. Distributive
c. Collaborative
d. Alliance

A

c. Collaborative

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24
Q

A collaborative relationship will have which one of the following combinations of characteristics
a. Long duration, Closed communication, high level of trust, individual problem solving
b. Short duration, low trust, open communication, joint decision making
c. Open communication, high trust, joint problem solving, short duration
d. Long duration, open communication, high levels of trust, joint problem solving

A

d. Long duration, open communication, high levels of trust, joint problem solving

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25
Q

Taking a distributive approach to negotiation is unlikely to result in which ones of the following
a. Win-lose
b. Lose-lose
c. Win-win
d. Lose-win

A

c. Win-win

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26
Q

Which of the following is not one of Carters 10 Cs
a. Capacity
b. Competency
c. Consistency
d. Complementary

A

d. Complementary

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27
Q

The process of working with a supplier to improve processes could be known as
a. Supplier development
b. Supplier enhancement
c. Lean and agile
d. Supplier enrichment

A

a. Supplier development

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28
Q

When profiling spend with suppliers in order to identify the strategic, closer tactical and transactional relationships needed, buyers will often use a tool called
a. ABC analysis
b. Spend matrix
c. Pareto analysis
d. Supplier hierarchy profiling

A

a. ABC analysis

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29
Q

A ‘leverage’ item on the Kraljic matrix has which of the following characteristics
a. Low profit impact, low supply risk
b. High supply risk, low profit impact
c. High risk impact, low profit supply
d. High profit impact, low supply risk

A

d. High profit impact, low supply risk

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30
Q

Which quadrant from the Kraljic model is associated with situations in which the supplier holds most of the power
a. Leverage
b. Routine
c. Strategic
d. Bottleneck

A

d. Bottleneck

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31
Q

Solutions such as optimizing ordering processes and/or using catalogues to improve efficiency are most likely to be classified in Kraljic as:
a. Strategic
b. Lean
c. Routine
d. Agile

A

c. Routine

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32
Q

Kraljic portfolio analysis has the following strengths: choose all that apply
a. It helps classify purchases into different groups against which different strategies can be deployed
b. It takes into account the views of all stakeholders
c. It supports more proportionate approaches/mythologies being adopted for different spend areas
d. It helps the supplier identify the circumstances under which is needs to differentiate its offer

A

a. It helps classify purchases into different groups against which different strategies can be deployed
c. It supports more proportionate approaches/mythologies being adopted for different spend areas

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33
Q

The tool of analysis that a supplier may use to profile its customer can be know as
a. Supplier preferencing model
b. Kraljic model
c. Customer profiling analysis
d. Stakeholder action planning

A

a. Supplier preferencing model

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34
Q

Customers described as Exploitable are those whose
a. Spending is low compared to others and are not seen as commercially attractive
b. Spending is considered to be high compared to others and are targeted for development
c. Supply Risk is low and spend is considered to be high
d. A strategy of charging premium pricing would be suitable

A

d. A strategy of charging premium pricing would be suitable

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35
Q

A supplier which has a narrow target market invests in offering superior and more relevant products and services for customers would be know as
a. Market Focused
b. Differentiation
c. Differentiation focused
d. Niche

A

c. Differentiation focused

36
Q

Michael Porter (1985) developed is competitive strategies model. The main 4 elements are
a. Cost Leadership, Product leadership, Supply leadership, Differentiation
b. Cost focus, Cost leadership, Differentiation, Differentiation Focus
c. Differentiation, Focus, Cost Leadership, Supply Focus
d. Cost advantage, Differentiation Focus, Cost Focus, Differentiation Focus

A

b. Cost focus, Cost leadership, Differentiation, Differentiation Focus

37
Q

A value chain could best be described as
a. A set of activities and processes that an organisation must undertake in order to satisfy the needs of the customers
b. The efficient flow of materials from raw materials through to consumption by customers
c. The set of activities within the manufacturing organisation which create value for the customer
d. The effective logistics processes involved in multi-tier supply chains

A

a. A set of activities and processes that an organisation must undertake in order to satisfy the needs of the customers

38
Q

The five rights of purchasing are as follows:
a. Quality, Time, Place, Price, Quantity
b. Place, Quality, Quantity, Speed, Price
c. Cost, Time, Quality, Quantity, Place
d. Compliance, Price, Quality, Delivery, Safety

A

a. Quality, Time, Place, Price, Quantity

39
Q

Which of the following statements is most likely
a. Rivalry in a market place is not helpful for buyers
b. The buyer is interested in new entrants to a market and may seek to support them in doing so
c. The threat of substitutes should appear on a buyers risk register
d. The bargaining power of buyers is increased when supply falls short of demand

A

b. The buyer is interested in new entrants to a market and may seek to support them in doing so

40
Q

An oligopoly is a market in which
a. A few suppliers collude to limit supply and manage price
b. A few suppliers dominate the market and tend not to compete on price
c. A market in which companies in a market offer similar products but they are not substitutes
d. A market in which the bargaining power of the seller is strong because the buyers have no choice

A

b. A few suppliers dominate the market and tend not to compete on price

41
Q

Ways in which buyers can get access to the technologies which the incumbent supplier might regard as a threat include which of the following ( Choose all those which apply)
a. Use outcome based specifications
b. Advertise the requirements widely
c. Use conformance specifications
d. Benchmarking and networking

A

a. Use outcome based specifications
b. Advertise the requirements widely
d. Benchmarking and networking

42
Q

STEEPLE analysis stands for
a. Social Technological Efficiency Economic Political legal Ethical
b. Social Technological Ergonomical Ethical Political legal Ethical
c. Social Technological Economic Environmental Political legal Ethical
d. Societal Technology Economy Environmental Political legal Ethical

A

c. Social Technological Economic Environmental Political legal Ethical

43
Q

Technological solutions which change the structure of the market or the way that a product is consumed can specifically be known as
a. Innovative technologies
b. Disruptive technologies
c. Ground breaking technologies
d. Pioneering technologies

A

b. Disruptive technologies

44
Q

STEEPLE analysis could best be described as
a. A tool that identifies the macro economic factors which influence a supply market
b. A analysis tool which helps understand the potential risk and opportunities associated with the macro economic factors which influence a supply chain
c. A macro economic tool which seeks to explore the prevailing risk factors affecting a company
d. A tool of analysis that helps the buyer understand competitive landscape of the supply market

A

b. A analysis tool which helps understand the potential risk and opportunities associated with the macro economic factors which influence a supply chain

45
Q

When measuring the effectiveness of an organisation’s supplier relationship processes and policies they would be best using
a. RORI analysis
b. Kraljic analysis
c. STEEPLE analysis
d. Value Analysis

A

a. RORI analysis

46
Q

A supply chain which has systems and processes which enable it to react quickly to changes in its environment would best be described as
a. Lean
b. Responsive
c. Reliable
d. Agile

A

d. Agile

47
Q

Non-cash releasing benefits generated via procurement processes and supplier relationship management is know as
a. Added Value
b. Savings
c. Through life benefit
d. Value Levers

A

a. Added Value

48
Q

A Buyer may be able to reduce the overall costs for a service by which of the following: choose all that apply
a. Reducing the unit costs for the service
b. Getting embellishments to the services without an increase in price
c. Increasing the payment terms for the service
d. Mitigating the price increase that a supplier requests

A

a. Reducing the unit costs for the service
c. Increasing the payment terms for the service

49
Q

Which of the following best describes Value for Money
a. The most advantageous combination of price and quality
b. The most advantageous combination of through life cost and achievement of buyers required outcome
c. The trade off between benefits and costs
d. The balance between achieving desired outcomes and acquisition price

A

b. The most advantageous combination of through life cost and achievement of buyers required outcome

50
Q

Value for money is often described by the National Audit Office as the 4 Es: What are they?
a. Effectiveness, Efficiency, Economy, Ethical
b. Ecological, Efficiency, Ethical, Effectiveness
c. Efficiency, Effectiveness, Economy, Equity
d. Economy, Efficiency, Enduring, Ethical

A

c. Efficiency, Effectiveness, Economy, Equity

51
Q

Supplier Selection would include which of the following: select those which apply
a. Due diligence on the suppliers financial health
b. Evaluation of the suppliers’ CSR credentials
c. Evaluation of the suppliers technical solution
d. Comparison of the suppliers’ prices

A

a. Due diligence on the suppliers financial health
b. Evaluation of the suppliers’ CSR credentials

52
Q

What is the name given to the public sector procurement process which ITT documents are only sent to the suppliers who have been shortlisted from a PQQ process
a. Open Tendering
b. Competitive dialogue
c. Innovative Partnership
d. Restricted Tendering

A

d. Restricted Tendering

53
Q

A PQQ seeks to answer which of the following questions: choice as many as relevant
a. The financial health of the buying organisation
b. The accreditations of the potential supplier
c. The suppliers capacity
d. The suppliers preferred terms and conditions
e. The KPIs the supplier has measured the customer against

A

b. The accreditations of the potential supplier
c. The suppliers capacity

54
Q

In situations in which the public sector buying organisation does not know what leading edge solution would meet their desired outcomes/performance levels, they may use which one of the following routes
a. Competitive procedure with negotiation
b. Innovative Partnership
c. Competitive dialogue
d. Restricted tender

A

b. Innovative Partnership

55
Q

A bid evaluation for an item from a highly competitive market is most likely to carry which weighting from the following choices
a. 30% price, 70% quality
b. 50% price, 50% quality
c. 70% quality, 30% price
d. 70% price, 30% quality

A

d. 70% price, 30% quality

56
Q

A bank which has lent money to a company would be best know as what type of stakeholder
a. Internal
b. External
c. Connected
d. Financial

A

c. Connected

57
Q

Highly interested senior management stakeholders would be best engaged by which of the following
a. Manage closely
b. Keep satisfied
c. Keep informed
d. Minimum effort

A

a. Manage closely

58
Q

The most likely considerations when classifying stakeholders is which one of the following options
a. The level of effort they put in combined with their willingness to cooperate
b. The degree of power they have along with their levels of interest
c. Their level of seniority combined with the strength of your relationship
d. The positiveness of their stance and their invested in your project

A

b. The degree of power they have along with their levels of interest

59
Q

If a highly influential stakeholder took a negative stance towards your procurement project you may classify them as
a. Passive aggressors
b. Negative leaders
c. Silent opponents
d. Active rewarders

A

b. Negative leaders

60
Q

If a buyer values the relationship with a supplier more than they support their own organisational objectives the danger is that they will
a. Accommodate too much
b. Collaborate too much
c. Collude too much
d. Compete too much

A

a. Accommodate too much

61
Q

The correct sequence for team development is
a. Storming, forming, performing and norming
b. Forming, Storming performing and norming
c. Forming, storming, norming and performing
d. Forming, storming, performing and adjourning

A

c. Forming, storming, norming and performing

62
Q

The process that buyers use to understand all of the costs that make up a suppliers price is
a. Price analysis
b. Cost modelling
c. Through life cost analysis
d. Breakeven analysis

A

b. Cost modelling

63
Q

A price is said to be inelastic when
a. A price change does not affect market demand
b. A price change does affect market demand
c. A demand change doesn’t affect price
d. A demand change does affect price

A

a. A price change does not affect market demand

64
Q

Buying a quantity greater than the volume currently required in order to avoid future price increases is best know as
a. Forward buying
b. Over ordering
c. Aggregating
d. Hedging

A

a. Forward buying

65
Q

The benefits of ESI could include which of the following: choose all that apply
a. Added value
b. Improved quality
c. Speed to market
d. Reduced product development costs
e. Improved CSR

A

a. Added value
b. Improved quality
c. Speed to market
d. Reduced product development costs
e. Improved CSR

66
Q

Technology transfer has which three benefits
a. Reduced IP risks
b. Costs savings
c. Supply chain effectiveness
d. Value creation

A

b. Costs savings
c. Supply chain effectiveness
d. Value creation

67
Q

For a KPI to be effective they should be which of the following
a. Realistic, Measurable, Specific, Time bound, Achievable
b. Time bound, Measurable, Specific, Achievable, Relevant
c. Specific, Monitorable, Achievable, Realistic, Time bound
d. Measurable, Suitable, Relevant, Time bound, Achievable

A

b. Time bound, Measurable, Specific, Achievable, Relevant

68
Q

When managing the potential impact and likelihood of supply chain by developing a dual sourcing option would be regarded as which type of mitigation:
a. Terminate
b. Tolerate
c. Treat
d. Transfer

A

c. Treat

69
Q

The purchase of insurance would be regarded as what type of risk mitigation approach
a. Treat
b. Protection
c. Transfer
d. Liability exchange

A

c. Transfer

70
Q

The purchase of insurance would be regarded as what type of risk mitigation approach
a. Treat
b. Protection
c. Transfer
d. Liability exchange

A

c. Transfer

71
Q

A buyer is most likely to accept force majeure clauses which reference what type of issues: select all that apply
a. Natural disaster
b. Industrial dispute within the supplier organisation
c. Strikes by fuel workers in the supplier’s country
d. A warehouse fire caused by faulty wiring

A

a. Natural disaster
c. Strikes by fuel workers in the supplier’s country

72
Q

The process aimed at dealing with significant disruptions to a supply chain is commonly called
a. Contingency planning
b. Business continuity planning
c. Supply chain planning
d. Impact assessment

A

b. Business continuity planning

73
Q

Supply base rationalization is primarily about which of the following
a. Reducing the number of products purchased by standardizing the variants
b. Reducing the number of suppliers and aggregating the requirement through them
c. Reducing the number of tiers in a supply chain
d. Driving the non-value adding activities from a supply chain

A

b. Reducing the number of suppliers and aggregating the requirement through them

74
Q

If unforeseen events beyond the suppliers control make it impossible for them to supply, the contract could be regarded as being.
a. Frustrated
b. Agitated
c. Poorly managed
d. Irritated

A

a. Frustrated

75
Q

The ending of a contract can be the result of which of the following: select those which apply
a. Performance
b. Failure to perform conditions
c. Supplier not willing to change the terms
d. Failure to perform warranties

A

a. Performance
b. Failure to perform conditions

76
Q

To ensure a seamless termination of a contract the buyer should
a. Ensure that contractual clauses are put into the contract related to IP, data, tooling, transitioning
b. Meet with the supplier once the decision has been made to negotiate the return of data and property
c. Put a range of contractual obligations on the supplier who is taking over the supply mandating them to manage the change over
d. Set the contract up so that early payment is made to encourage the supplier to perform until termination date

A

a. Ensure that contractual clauses are put into the contract related to IP, data, tooling, transitioning

77
Q

Copywrites protect which type of intellectual property
a. Functional designs
b. Trademarks and symbols
c. Trade secrets
d. Original works of expression

A

d. Original works of expression

78
Q

Which of the following is correct
a. TUPE relates only to the public sector
b. TUPE relates to outsourcing and insourcing only
c. TUPE relates to the transfer of identical work from one vendor to another
d. When an employee transfers under TUPE many of the benefits received will be similar

A

c. TUPE relates to the transfer of identical work from one vendor to another

79
Q

A partnership Relationship could best be defined as
a. A commitment between two organisations to have a integrative relationship in order to dominate the market
b. A commitment between a customer, supplier and its sub-contractor to have a contractual relationship based on risk and cost sharing
c. A commitment between a customer and a supplier to have a long-term collaborative relationship based on trust and mutually agreed objectives and goals for both parties
d. A commitment between a buyer and their supplier to have a long-term collaborative relationship based on trust and mutually compatible objectives and goals for both parties

A

c. A commitment between a customer and a supplier to have a long-term collaborative relationship based on trust and mutually agreed objectives and goals for both parties

80
Q

The relationship approach a buyer would take for Bottleneck items is most likely to be
a. Closer-Tactical
b. Arms length
c. Transactional
d. Co-destiny

A

a. Closer-Tactical

81
Q

Partnering relationships could include which of the following features: choose all that apply
a. ESI
b. Gain share approach to pricing
c. Trust
d. Transparency
e. Unlimited liability clauses

A

a. ESI
b. Gain share approach to pricing
c. Trust
d. Transparency

82
Q

It is unlikely that a partnering approach would be suitable unless
a. The drivers for the relationship were the same
b. The drivers for the relationship were similar
c. The drivers for the relationship were different
d. The drivers for the relationship were identical

A

b. The drivers for the relationship were similar

83
Q

The enablers of a partnership relationship would include
a. Shared drivers
b. Common goals
c. Compatible cultures
d. Common products and/or customers

A

c. Compatible cultures

84
Q

A ‘strategic’ item on the Kraljic matrix has which of the following characteristics
a. Low profit impact, low supply risk
b. High supply risk, low profit impact
c. High risk impact, low profit supply
d. High profit impact, high supply risk

A

d. High profit impact, high supply risk

85
Q

When profiling risks related to supplier portfolio analysis, which types of risk might we consider: choose those which apply
a. Market Structure
b. Market position
c. Complexity of the supply chain
d. Business criticality

A

a. Market Structure
c. Complexity of the supply chain
d. Business criticality

L4 M6 (1 decks)

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