Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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?

Accepted Answer

The answer of Suppose your organization is attempting to set...

Question 3

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

Accepted Answer

A) Every year 
B) Every 6 months 
C) Every 5 years 
D) Every 10 years

Question 4

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.

Accepted Answer

A) True 
 B)False

Question 5

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:
$$\begin{array}{l}
\text { Use the data below to calculate this supplier's score: }\
\begin{array} { l c c } 
\text { Performance measure } & \text { Rating } & \text { Weight } \
\text { Quality } & 80 & 0.50 \
\text { Delivery } & 90 & 0.20 \
\text { Cost } & 90 & 0.20 \
\text { Responsiveness } & 95 & 0.10
\end{array}
\end{array}$$

Accepted Answer

The answer of The Buyer Company buys their supplies from...

Question 6

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?

Accepted Answer

A) Company A: Quality(90), Delivery(80), Cost(60) 
B) Company C: Quality(70), Delivery(95), Cost(60) 
C) Company B: Quality(70), Delivery(80), Cost(80) 
D) All companies scored the same.

Question 7

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:

Accepted Answer

A) CRM 
B) SRM 
C) ISO 9000 
D) SCSS

Question 8

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.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) Understandable, easy to measure, focused on value-added results 
B) Understandable, quantitative, focused of cost-related results 
C) Understandable, qualitative, focused on performance-related results 
D) Understandable, quantitative, focused on quality-related results

Exam 3: Creating and Managing Supplier Relationships

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

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.

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: