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Quick Check - Topic 8

QuestionAnswer
Under which circumstance do you need to search for a new supplier? - New product or service introduction - New suppliers have entered the market - Your current supplier overpromised and is underperforming - Testing the market - All of the above All of the above
An item that is purchased that has many suppliers available and is of low importance to your organization should have the following selection process characteristics . . .? - Detailed - Thorough - Efficient - Interactive - All of the above Efficient
Which of the following is true about critical buys? - You want to automate and outsource supplier selection. - They represent 80% of the buys within the organization - You use a cross-functional category team - They are managed by the end user You use a cross-functional category team
Selecting the right suppliers is your most important job? - True - False True
Which of the following is NOT one of the four steps in the supplier selection process? - Negotiation - Evaluation - Performance monitoring - Approval Negotiation
Purchasing consortiums are a good way to aggregate buys and gain industry intelligence. - True - False True
Defining clear key selection criteria help you to collect consistent and comparable data. Which of the following criteria are important to consider and compare? - Price - Reach/scalability - Management Strength - Cultural fit - All of the above All of the above
Caveat Emptor means let the seller beware. - True - False False
Multi-criteria analysis is a tool that helps you compare “distinctly different” options. - True - False True
Which of the following is not one of the four reasons to include a multi-criteria analysis in your toolkit? - Comprehensiveness - Quantifiability - Intuitiveness - Disciplined - Applicability Comprehensiveness
Which step in the process helps you determine how important each criterion is? - Decide on criteria - Set weights - Evaluate options - Define scoring system - Calculate results Set weights
To calculate results you multiply the score for each criterion by the associated weight and add up the results. - True - False True
Which step in the process asks you to fill in your comparison matrix? - Set weights - Decide on criteria - Evaluate options - Define scoring system - Calculate results Evaluate options
A customer that is exploitable . . .? - Is a good long-term partner. - Has to pay premium pricing. - Has high attractiveness to the supplier, particularly with a long-term perspective. - Has relatively high value to the business. Has to pay premium pricing
As a core customer you and a highly capable/desirable supplier are a good match. - True - False True
As an exploitable customer of routine buys you are confident in the supplier’s pricing strategy. - True - False False
Which of the following are a good match for strategic buys? - Nuisance - Exploitable - Development - All of the above Development
Created by: tgalless
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