57. To select a potential supplier-partner, the buyer should consider: 1. Both h

Question

57. To select a potential supplier-partner, the buyer should consider: 1. Both hard and soft factors with an eye toward long-term outcomes 2. Both hard and soft factors with an eye toward short-term outcomes 3. Soft factors such as congruence of management values and compatibility 4. Hard factors such as quality, quantity, cost and technolog)y 5· The willingness of the supplier to quickly change processes for results 58. A supply manager recently sent out an RFP for a gold-plated brass threaded rod. The rod is not unusual except for the overall length; 18cm long, and the requirement for 18K gold plating to a thickness of 10 microns (.0001). Of the 10 responses received, all were similar in quality requirements and pricing criteria. Which of the following would be the BEST procedure to determine the most qualified potential supplier(s)? 1. Utilise price benchmarks 2. Check supplier's references 3. Develop a supplier ranking tool 4. Consider the quality implications 59. In manufacturing organisations, the dollars spent with suppliers falls into what range as a percentage of revenue? 1. 65 70 2. 50 80 3. 45 75 4. 30 60 5. 25 35 60. The key benefit of having vendor(supplier) manage inventory is 1. It transfers your inventory carrying cost to your vendor 2. It transfers your planning activities to your vendor 3. It reduced the inventory in the system by making the planning process between the customer and vendor seamless 4. It transfers the complaints handling of components to the vendor 61. The decision to make or buy a good or service is: 1· A decision of strategic importance that deserves careful evaluation 2. A one-time decision never to be reconsidered 3. Primarily an operational decision 4. . The same as deciding to insource or outsource 5. Typically make by the chief supply officer and his/her executive team 62. Core competencies of an organisation are typically: 1. The first things to be outsourced to access supplier expertise 2. Seldom outsourced because they contribute to competitive advantage 3. The same for companies in the same industry 4, Flexible and easily changed depending on who is in charge 5. Dependent on the staff performing the task

Explanation / Answer

The correct answer is 1. Both hard and soft factors with an eye toward long-term outcomes.

Both hard (i.e. financial) and soft (i.e. communication) factors are significant for a buyer-supplier partnership to succeed. By definition, partnerships are focused on the long-term.

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