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HBX.CORE.v2024-09-27.q132
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Question 37/132

A company has a large upcoming project. While the company has a current list of qualified suppliers capable of participating in this project, the chief procurement officer (CPO) wants supply management to conduct site visits with the suppliers under consideration. A senior supply manager is given the assignment of planning and scheduling the visits. Which of the following is the BEST way to begin this project?

A. Select up to three suppliers to visit

B. Establish the key evaluation criteria for the visits

C. Submit a budget for the selection activity and site visits

D. Select a cross-functional team to participate in the visits

Correct Answer: B

* Project Context: The CPO wants to conduct site visits with potential suppliers for a large project.
* Importance of Evaluation Criteria: Establishing key evaluation criteria is essential to ensure the visits are structured and focused.
* Initial Step: Before selecting suppliers or scheduling visits, it's crucial to know what aspects of the suppliers' operations will be evaluated.
* Evaluation Aspects: These criteria might include production capacity, quality control processes, financial stability, compliance with standards, and overall capability to meet project requirements.
* Purpose of Criteria: These criteria will guide the assessment, provide a basis for comparison, and ensure that the most suitable suppliers are chosen.
* Conclusion: Starting with clear evaluation criteria ensures a systematic and objective approach to selecting the best suppliers for the project.
References
* Supplier Evaluation and Performance Excellence: A Guide to Meaningful Metrics and Successful Results by Sherry R. Gordon.
* CIPS Guide to Supplier Appraisal and Performance Management.

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