CORe Exam Dumps | A business unit conducts discussions with key management members that Include category overviews, contracting

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HBX.CORE.v2024-11-30.q151
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Question 64/151

A business unit conducts discussions with key management members that Include category overviews, contracting executive summaries, local content spending plans, sourcing timelines, and cost management/value creation. These presentations can BEST be described as which of the following?

A. Commodity segmentation

B. Contracting plan

C. Spend analysis

D. Category action plan

Correct Answer: D

The business unit conducts discussions that include category overviews, contracting executive summaries, local content spending plans, sourcing timelines, and cost management/value creation. These elements collectively describe a strategic approach to managing a specific category of spend.
* Commodity segmentation refers to dividing products or services into categories based on similar characteristics.
* Contracting plan outlines the approach for negotiating and establishing contracts.
* Spend analysis involves examining historical spending to identify patterns and opportunities for cost savings.
* Category action plan is a comprehensive approach that includes all aspects of managing a category, from market analysis to implementation strategies.
Given the scope and elements involved in the discussions described, they align best with a category action plan which encompasses category overviews, contracting summaries, and strategic planning for sourcing and cost management.
References:
* Institute for Supply Management (ISM) guidelines on category management.
* CIPS (Chartered Institute of Procurement & Supply) literature on category management best practices.

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