51. Which of the following supplier relationship management (SRM) activities mig

Question

51. Which of the following supplier relationship management (SRM) activities might be outsourced successfully? 1. Selection of strategic partners 2. Setting of procurement budgets 3. O Setting corporate goals and developing strategy for alliances 4. Contracting with strategic partners 52. Which of the following is the key to enabling supply chains to more quickly respond to customer demand and increase participants' profitability? 1. Creating individual partnerships 2. . Collaborative planning across the entire supply chain 3. Creating an alliance with a key supplier 4. Information sharing with key partners 53. Which of the following is NOT important in developing a successful strategic alliance? 1. Developing efficient processes that will remain unchanged for the duration of the partnership 2. Developing performance metrics 3. Investigating the capabilities and core competencies of the supplier 4. Open lines of communication that both promote sharing and secure confidentiality 54. Which of the following is important in developing successful buyer-supplier relationships? 1. Commitment by top management 2. Interpersonal relationships between employees of the companies 3. Mutual/compatible needs that result in a win-win for both organisations 4. All of the above 55. A company using a weighted-criteria evaluation system has established three categories and the appropriate weight in parentheses: Quality (0.30), Delivery (0.20), Cost (0.50). The scores for each category are shown below. Which of the following companies has the highest total score? 1. Company A: Quality (90), Delivery (80), Cost (60) 2. Company B: Quality (70), Delivery (90), Cost (80) 3. Company C: Quality (70), Delivery (80), Cost (80) 4. All companies scored the same 56. If two potential suppliers can deliver a part with the same quality and prices, the selection should be based on 1. Age of the firms 2. O A coin flip 3. Outside evaluation 4. The capabilities and flexibilities of the firms

Explanation / Answer

51- Answer- Contracting with Strategic Partners. Supplier relationship management is responsible for maintaining and enhancing the relationship between a company and the supplier of goods and services of that company to maintain customer demands and maximize profits.

52. Answer- Creating an alliance with a key supplier. Supply chain activities include the conversion of raw materials in to a finished and a processed product which can be delivered to the end customer.

53. Answer- Developing efficient processes that will remain unchanged for the duration of the partnership. Strategic alliances are formed after investigating the capabilities and the competency of the suppliers.

54. Answer- All of the above. Buyers and suppliers go hand in hand. A Company can function properly and manufacture and sell goods only if the supplier is supplying the raw materials. Hence, it is very important to maintain a buyer-supplier relationship which can help maximize the profits for both the buyers and the suppliers.

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