CORe Exam Dumps | XYZ, Inc. currently has a transactional relationship with suppliers, but would like to work strategically

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HBX.CORE.v2024-09-27.q132
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Question 71/132

XYZ, Inc. currently has a transactional relationship with suppliers, but would like to work strategically with them. The firm wants to initially focus attention on the most critical suppliers. To do this, they should FIRST reach out to

A. suppliers with the highest dollar sales volume

B. suppliers with whom the firm rarely or never has face-to-face meetings

C. suppliers with the highest unit volume

D. suppliers rated as vital according to key department metrics

Correct Answer: D

To transition from transactional to strategic relationships with suppliers, XYZ, Inc. should first focus on suppliers rated as vital according to key department metrics. These metrics may include criteria such as supplier performance, strategic importance, criticality of the supplied materials or services, and overall impact on the firm's operations. By concentrating on these vital suppliers, the company can develop stronger, more collaborative relationships that drive mutual benefits and strategic value. References:
* "Purchasing and Supply Chain Management" by Robert M. Monczka, Robert B. Handfield, Larry C.
Giunipero, and James L. Patterson
* Institute for Supply Management (ISM) guidelines on supplier relationship management and strategic sourcing

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