CORe Exam Dumps | Questions pertaining to standardizing products, reducing the number of suppliers, and combining volumes

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HBX.CORE.v2024-11-30.q151
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Question 67/151

Questions pertaining to standardizing products, reducing the number of suppliers, and combining volumes to attain better pricing are BEST addressed by which of the following?

A. Category strategy

B. Spend analysis

C. ERP system

D. Category action plan

Correct Answer: A

A category strategy involves analyzing and managing specific categories of products or services to achieve better pricing, quality, and supplier relationships. By standardizing products, reducing the number of suppliers, and combining volumes, the company can leverage its purchasing power to negotiate better terms and conditions. This approach is comprehensive and strategic, focusing on optimizing procurement and supply chain management for specific categories.
References
* CIPS (Chartered Institute of Procurement & Supply). Category Management in Procurement.
* ISM (Institute for Supply Management). Strategic Sourcing and Category Management.

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