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Question 66/72
A firm has repeatedly experienced communication problems with three crucial suppliers. The firm's supply manager concludes that many of these problems are the result of not having regular business reviews with these suppliers. However, all three suppliers have indicated that they do not see the value in regular business reviews. Given this situation, which of the following is the BEST course of action for the supplier manager to take?
Correct Answer: D
* Identify Issues: Clearly define the communication problems and their impact on the business relationship.
* Create a Structured Agenda: Developing a detailed agenda helps in focusing the discussions and ensuring all critical issues are addressed.
* Demonstrate Value: Showing the suppliers the tangible benefits of regular business reviews can help in gaining their cooperation.
* Continuous Improvement: Regularly scheduled meetings with a clear agenda can lead to improved communication and performance over time.
References
* Supplier Relationship Management Guidelines
* Business Communication Best Practices
* Performance Improvement Literature
* Create a Structured Agenda: Developing a detailed agenda helps in focusing the discussions and ensuring all critical issues are addressed.
* Demonstrate Value: Showing the suppliers the tangible benefits of regular business reviews can help in gaining their cooperation.
* Continuous Improvement: Regularly scheduled meetings with a clear agenda can lead to improved communication and performance over time.
References
* Supplier Relationship Management Guidelines
* Business Communication Best Practices
* Performance Improvement Literature
- Question List (72q)
- Question 1: Planning and negotiating a contract while considering its im...
- Question 2: Which of the following is the BEST method for comparing a su...
- Question 3: A supply manager Is assigned to a new product similar to pro...
- Question 4: A multinational company is in the market to purchase widgets...
- Question 5: A supply manager Is seeking potential suppliers to recreate ...
- Question 6: A supply manager Is leading a team in developing a strategic...
- Question 7: Which of the following is the PRIMARY reason for holding a b...
- Question 8: In portfolio analysis, purchases for which the buying organi...
- Question 9: A supply manager needs to develop additional raw material su...
- Question 10: Consider the following supplier terms for the same product: ...
- Question 11: An educational institution that delivers continuing educatio...
- Question 12: A buying company concludes the request for proposal (RFP) pr...
- Question 13: Which of the following BEST describes the strategic sourcing...
- Question 14: A machine that costs $200,000 is expected to realize an annu...
- Question 15: A supply manager Is planning for negotiations with a sole-so...
- Question 16: A company is about to conduct an opportunity assessment revi...
- Question 17: Of the following, the BEST way for supply management to effe...
- Question 18: A manufacturing company has numerous sites around the countr...
- Question 19: Which of the following financial indices may be used to infe...
- Question 20: According to the Kraljic matrix, how should a product with h...
- Question 21: Which of the following should be supply management's PRIMARY...
- Question 22: A supply management office for a county government has been ...
- Question 23: A supply manager Is leading a project to implement a change ...
- Question 24: Which of the following is the simplest form of supplier eval...
- Question 25: A supply manager concludes that the best source for a critic...
- Question 26: A service provider has experienced diminished value and stag...
- Question 27: CDE, Inc. contracts with a supplier for the fabrication of t...
- Question 28: A company creates a corporate sourcing team with category ma...
- Question 29: CDE Inc. is a metal casting manufacturer that uses a supplie...
- Question 30: When developing a supplier exit strategy, which of the follo...
- Question 31: A supply management department is looking to standardize pur...
- Question 32: During negotiations, each side adopts a point of view, and t...
- Question 33: The price of raw materials for a critical product is highly ...
- Question 34: Which of the following is a key element in the development o...
- Question 35: Items of low value and complexity are typically categorized ...
- Question 36: Which of the following is considered the HIGHEST level in a ...
- Question 37: A firm wants to reduce the supply base for a particular prod...
- Question 38: After a bid process concludes and an award is made, there sh...
- Question 39: Which of the following contract types is an agreement to pay...
- Question 40: GHI, Inc. is a manufacturer of batteries. GHI's supply manag...
- Question 41: A company's major supplier of sub-assemblies provides excell...
- Question 42: A major supplier for JKL, Inc. has a production capacity of ...
- Question 43: A product's labor content is $10 and its overhead is $12.50....
- Question 44: Developing a category management plan can BEST be accomplish...
- Question 45: A supply manager is planning to conduct negotiations with th...
- Question 46: A supply manager Is conducting the following activities: *Ma...
- Question 47: At what point in a business relationship with a supplier sho...
- Question 48: Which of the following is the FIRST step in developing a neg...
- Question 49: A supply manager seeks bids on a new piece of capital equipm...
- Question 50: Motivated by public relations considerations, a company deci...
- Question 51: A university is evaluating its student registration software...
- Question 52: Which of the following is the BEST long-term strategy for cr...
- Question 53: Development of which of the following would be MOST benefici...
- Question 54: PQR, Inc. is a small manufacturing firm that is rebuilding i...
- Question 55: A supply manager for an electronics manufacturer is asked to...
- Question 56: According to the Law of Agency, a supply manager acting as a...
- Question 57: The procurement officer for a publicly-traded U.S. company c...
- Question 58: PQR, Inc. is a large international life insurance company. P...
- Question 59: A supply manager is drafting a request for proposal (RFP) fo...
- Question 60: A supply manager is developing a request for proposal (RFP) ...
- Question 61: A firm enters into a contract with a minority business. The ...
- Question 62: A team from RST, Inc. is conducting a negotiation session wi...
- Question 63: A manufacturing company signs a cost-reimbursable contract w...
- Question 64: Which of the following BEST describes a single source supply...
- Question 65: A supply manager receives negative feedback from internal st...
- Question 66: A firm has repeatedly experienced communication problems wit...
- Question 67: Which of the following is the PRIMARY benefit of supply base...
- Question 68: A supply manager Is conducting financial analyses of bidders...
- Question 69: A firm purchases large quantities of parts from an overseas ...
- Question 70: A supply manager solicits bids for janitorial services. The ...
- Question 71: Which of the following is MOST important to review before em...
- Question 72: JKL, Inc. solicits bids for the repair of a boiler used in i...
