CORe Exam Dumps | Planning and negotiating a contract while considering its impact on a supplier is an example of which

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Question 1/132

Planning and negotiating a contract while considering its impact on a supplier is an example of which of the following?

A. Supplier relationship management

B. Contingency planning

C. Supply chain mapping

D. Supplier mentorship

Correct Answer: A

Planning and negotiating a contract while considering its impact on a supplier is an example of supplier relationship management. This practice involves maintaining a positive and strategic relationship with suppliers, ensuring mutual benefits, and fostering collaboration. By considering the supplier's position, the buying firm can negotiate terms that support a long-term, sustainable partnership.
References:
* "Supplier Relationship Management: Unlocking the Hidden Value in Your Supply Base" by Jonathan O'Brien.
* ISM guidelines on supplier relationship management.
* CIPS resources on strategic supplier management.

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Question List (132q): Question 1: Planning and negotiating a contract while considering its im...; Question 2: A firm buys a particular product that has low business impac...; Question 3: One of TUV Company's largest suppliers has been performing p...; Question 4: A US-based manufacturing firm receives a quoted price for an...; Question 5: A supply manager Is conducting negotiations with a supplier....; Question 6: Which component of the COSO framework, as required by the Sa...; Question 7: IJK, Inc. is currently under contract with Supplier X to pro...; Question 8: A firm currently pays $14 per unit for a part used in manufa...; Question 9: CBA Incorporated is an up-and-coming automobile manufacturer...; Question 10: A manufacturing company has numerous sites around the countr...; Question 11: During negotiations with a supply manager from FGH Inc., a s...; Question 12: Which of the following is a key element in the development o...; Question 13: EFG, Inc. is conducting a sourcing activity to identify a pr...; Question 14: A supply manager for JKL, Inc. finds a potential new supplie...; Question 15: A plumbing supplies company asks its supply manager to devel...; Question 16: A company that wants to add value to its operations should w...; Question 17: Which of the following is the GREATEST benefit of inviting s...; Question 18: A manufacturing company purchases a certain component in qua...; Question 19: Which of the following is the BEST course of action to take ...; Question 20: HIJ, Inc. is planning to purchase a generic, well specified ...; Question 21: A supply manager Is leading a project to implement a change ...; Question 22: A firm purchases large quantities of parts from an overseas ...; Question 23: A supplier of software critical to PQR Inc.'s scheduling sys...; Question 24: A supply manager needs to develop additional raw material su...; Question 25: A manufacturing company experiences an increase in returns d...; Question 26: A legal protection that covers an invention, the discovery o...; Question 27: The ability to explain how and why decisions are made in sup...; Question 28: RST Bus Corporation contracts with Supplier X to buy 5,000 g...; Question 29: DEF Company receives several proposals for the manufacture o...; Question 30: An operations manager wants to replace the existing fleet of...; Question 31: DEF, Inc. is a medium-sized manufacturer in the precious met...; Question 32: XYZ, Inc. is negotiating with Supplier DEF for materials nee...; Question 33: A manufacturing firm has a product that has been experiencin...; Question 34: Due to growth, a private school system finds that its costs ...; Question 35: According to the Sarbanes-Oxley Act, to whom must an audit c...; Question 36: A buying organization requires suppliers to maintain an on-t...; Question 37: A company has a large upcoming project. While the company ha...; Question 38: A manufacturing firm creates a steering committee to review ...; Question 39: A luxury scarf manufacturer located in Europe selects a fine...; Question 40: Which of the following is the MOST important factor in the d...; Question 41: A foundation maintains ongoing relationships with agents in ...; Question 42: DEF, Inc. is a multinational oil company expanding into a ne...; Question 43: A firm wants to reduce the supply base for a particular prod...; Question 44: A firm has repeatedly experienced communication problems wit...; Question 45: Rebates are considered part of which of the following types ...; Question 46: A company that makes specialized equipment for a very compet...; Question 47: MNO, Inc. is a manufacturing operation that has recently exp...; Question 48: Motivated by public relations considerations, a company deci...; Question 49: The chief procurement officer (CPO) for a large hospital sys...; Question 50: MNO, Inc. purchases benchmarking data services from Supplier...; Question 51: A supplier's willingness to deal with rejected materials, fi...; Question 52: A manufacturing company with plants and suppliers in numerou...; Question 53: PQR, Inc. is a globally certified manufacturer and repair sh...; Question 54: The price of raw materials for a critical product is highly ...; Question 55: It takes an employee 30 minutes to produce the first unit of...; Question 56: A company buys 200 metric tons of ethylene per month. The fi...; Question 57: The chief executive officer (CEO) of a candy company directs...; Question 58: A U.S. firm receives several blds for a piece of specialized...; Question 59: A firm enters into a contract with a minority business. The ...; Question 60: The procurement team for a construction firm is tasked with ...; Question 61: Which of the following is the PRIMARY benefit of supply base...; Question 62: CDE, Inc. contracts with a supplier for the fabrication of t...; Question 63: A sourcing manager is negotiating a contract with a human re...; Question 64: A supply manager concludes that the best source for a critic...; Question 65: A supply manager is planning a major sourcing event and want...; Question 66: A service provider has experienced diminished value and stag...; Question 67: After a bid process concludes and an award is made, there sh...; Question 68: A supply manager Is leading a team in developing a strategic...; Question 69: The types of suppliers MOST suited for regular business revi...; Question 70: A multinational company is in the market to purchase widgets...; Question 71: XYZ, Inc. currently has a transactional relationship with su...; Question 72: For many years, BCD Inc. has purchased electronic assemblies...; Question 73: A company recognizes a need for new and improved product off...; Question 74: Which of the following is the FIRST step in the category man...; Question 75: A supply manager identifies an overseas source for parts use...; Question 76: A supply manager Is seeking potential suppliers to recreate ...; Question 77: When developing a supplier exit strategy, which of the follo...; Question 78: A supply manager receives negative feedback from internal st...; Question 79: Questions pertaining to standardizing products, reducing the...; Question 80: A chief executive officer (CEO) asks a supply manager to pre...; Question 81: A supply manager negotiates an agreement with a salesperson ...; Question 82: Separating processes such as ordering, receiving, and paymen...; Question 83: For several years, an environmental services company has con...; Question 84: Which of the following is MOST appropriate for review by an ...; Question 85: A supply manager Is evaluating bids for a new delivery van. ...; Question 86: TUV Inc., a small manufacturing firm, hopes to rebuild its c...; Question 87: When developing a category management plan, which of the fol...; Question 88: A supplier's willingness to deal with rejected materials, fi...; Question 89: A commodity manager at company headquarters is given respons...; Question 90: A manufacturer develops a new product that will be more effi...; Question 91: A supply manager Is conducting financial analyses of bidders...; Question 92: CDE Inc. is a metal casting manufacturer that uses a supplie...; Question 93: A chief procurement officer (CPO) is asked by the company co...; Question 94: According to the Law of Agency, a supply manager acting as a...; Question 95: A supply manager for DEF Inc. meets with the firm's operatio...; Question 96: Which of the following BEST describes a cash flow budget?...; Question 97: A supply manager is planning to conduct negotiations with th...; Question 98: BCD Inc. is in the early stages of selecting a new procure t...; Question 99: A procurement specialist reviews a report from a financial a...; Question 100: MNO, Inc. has been one of XYZ Company's most valuable custom...; Question 101: As interest rates rise, what will MOST likely be the effect ...; Question 102: A sourcing manager is evaluating the following bids: Quality...; Question 103: PQR, Inc. is a large international life insurance company. P...; Question 104: Developing a category management plan can BEST be accomplish...; Question 105: DEF, Inc. conducts a Request for Information (RFI) to identi...; Question 106: EFG uses specialized components from Supplier A in the manuf...; Question 107: Which of the following Is the BEST way to address a supplier...; Question 108: An organization is preparing its budget for the next fiscal ...; Question 109: Of the following, the BEST way for supply management to effe...; Question 110: A company purchases a high-value product In an industry know...; Question 111: With which group of suppliers is It MOST important to conduc...; Question 112: A corporation acquires a startup company, with the objective...; Question 113: A rapidly-growing food service company Is creating a service...; Question 114: UVW, Inc. issues a Request for Quotation (RFQ) for urgently-...; Question 115: A supply management team reviews all documents dealing with ...; Question 116: A supply management department for a manufacturing organizat...; Question 117: A firm's supply manager is asked by the engineering departme...; Question 118: Which of the following is the MOST important reason for supp...; Question 119: To weigh the benefits and risks of outsourcing a function, a...; Question 120: A firm issues an RFQ for specialty electronics to be used wi...; Question 121: A supply manager conducts a two-step bidding process for pro...; Question 122: Which of the following is the simplest form of supplier eval...; Question 123: Which of the following is a factor to be considered in a Tot...; Question 124: A company's internal ordering system for indirect spend gene...; Question 125: A company buys electronic connectors in lot sizes of 5000 un...; Question 126: A supply manager is developing a request for proposal (RFP) ...; Question 127: During its first annual business review, a supplier requests...; Question 128: A team from RST, Inc. is conducting a negotiation session wi...; Question 129: Which of the following is the BEST long-term strategy for cr...; Question 130: A manufacturing plant employs an enterprise resource plannin...; Question 131: After working for several years at ABC, Inc.-a large manufac...; Question 132: A company's major supplier of sub-assemblies provides excell...

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