CORe Exam Dumps | A plumbing supplies company asks its supply manager to develop a category management plan for the coming

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HBX.CORE.v2024-11-30.q151
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Question 27/151

A plumbing supplies company asks its supply manager to develop a category management plan for the coming year.
The supply manager conducts a spend analysis in order to identify and rank the most important categories.
Which of the following should the supply manager use?

A. Frequency chart

B. Pareto analysis chart

C. Profit margin chart

D. Fish bone diagram

Correct Answer: B

A Pareto analysis chart is used to identify and rank the most important categories based on the principle that
80% of effects come from 20% of causes. By conducting a spend analysis and using a Pareto analysis chart, the supply manager can determine which categories account for the majority of the company's spending. This helps in prioritizing efforts and resources towards the most impactful categories.
References
* Juran, J.M. (1989). Juran on Leadership For Quality: An Executive Handbook.
* CIPS (Chartered Institute of Procurement & Supply). Spend Analysis and Pareto Principle.

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