CORe Exam Dumps | During its first annual business review, a supplier requests an increase in pricing. The supplier's survey

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HBX.CORE.v2024-11-30.q151
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Question 15/151

During its first annual business review, a supplier requests an increase in pricing. The supplier's survey results show a rating of 2.9 out of 5 possible points (with 3.0 being acceptable). Market indices indicate that the supplier's industry has experienced no price increase. In this situation, which of the following is the BEST course of action for the buyer to take?

A. Ask the supplier to respond to the survey results item by item, to determine the efficacy of the request

B. Review the survey results with the supplier asking how it plans to address the concerns, and discuss the economic factors supporting the price increase

C. Reestablish service level agreement expectations and deny any increase at this time

D. Inform the supplier that the market indices do not support an increase, and issue a 30-day cure letter warning of contract breach based on the survey results

Correct Answer: B

* Supplier Request for Price Increase: Despite a low survey rating and stable market prices, the supplier requests a price increase.
* Engaging the Supplier: Reviewing survey results and discussing them ensures that the supplier
* understands the buyer's concerns and expectations.
* Economic Factors: Discussing economic factors provides a clearer picture of whether the price increase is justified.
* Collaborative Approach: This method fosters a collaborative relationship and seeks to address underlying issues before making pricing decisions.
References
* ISM. (n.d.). Managing Supplier Performance Reviews.
* CIPS. (n.d.). Effective Supplier Relationship Management.

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