Exam 3: Creating and Managing Supplier Relationships

One result of an effective supplier certification program is an increase in the supplier base.

Suppose your organization is attempting to set up a new strategic alliance with a supplier.You are considered the key manager from your organization to manage this alliance.What would be your goals for the planning stages of this proposed alliance? What would be your goals for the first few months of the alliance? What would be your long-term goals for the alliance?

The Hormel company awards their Hormel Food Corporation's No.1 Award to their top supplier.How often to the give this award?

In order to maintain a shared vision, the buyer alone should establish the objectives of the partnership, which must then be fulfilled by the actions of the supplier.

The Buyer Company buys their supplies from Company X that presently has a supplier score of 85.0.They are now considering buying from Company Y.Based on supplier score should they buy from Company X or Company Y? Use the data below to calculate this supplier's score: Use the data below to calculate this supplier's score: Performance measure Rating Weight Quality 80 0.50 Delivery 90 0.20 Cost 90 0.20 Responsiveness 95 0.10

A company using a weighted-criteria evaluation system has established these 3 categories and the appropriate weight in parentheses: Quality(0.30), Delivery(0.40), Cost(0.30).The scores for each category are shown below.Which of the following companies has the highest total score?

Streamlining the processes and communications between the buyer and supplier using software applications that enable these processes to be managed more efficiently and effectively can be referred to as:

The development of relationships with suppliers brings about changes that must be managed in order for a company to stay focused on their core businesses.

According to the text, the goal of a good performance evaluation system is to provide metrics that are: