CORe Exam Dumps | A chief procurement officer (CPO) is asked by the company corporate travel department to present strategies

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HBX.CORE.v2024-11-30.q151
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Question 72/151

A chief procurement officer (CPO) is asked by the company corporate travel department to present strategies and tactics related to the acquisition of travel services. Which of the following approaches will BEST demonstrate an understanding of the travel department's needs?

A. Presenting benchmarks on the average costs of domestic and international airline tickets, to employ during negotiations over airline contracts

B. Highlighting the negotiating of airline contracts, given that air travel represents the largest element of the budget and other travel spend categories are less important and harder to control

C. Focusing on supply (e.g. airlines, hotels) and demand (e.g. company travel policy, classes of travel), and how supply management can optimize both

D. Emphasizing the company-wide implementation of a corporate card as a tool to monitor every aspect of the travel spend

Correct Answer: C

To demonstrate an understanding of the travel department's needs, the CPO should take a holistic approach, focusing on both supply and demand aspects of travel services. This involves understanding the various suppliers (airlines, hotels) and the internal demand factors (company travel policies, different classes of travel). By optimizing both supply contracts and internal demand management, the CPO can develop strategies that control costs while meeting the company's travel needs effectively. This approach shows a comprehensive understanding of the complexities involved in managing travel services.References:
* Procurement and Supply Chain Management by Kenneth Lysons and Brian Farrington.
* Travel and Expense Management Best Practices by Aberdeen Group.

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