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Exam 1: Foundation of Supply Management

  • 4)

    Factors in the selection of the method of procurement

    • A)

      Degree of competition/market situation

    • B)

      Industry norms and standards

    • C)

      Urgency

    • D)

      Dollar value

    • E)

      Nature of product/service specifications

    • F)

      Type of contract desired

    • G)

      Frequency of purchases

    • H)

      Risk

    • I)

      Customer requirements

    • J)

      Leadtime

    • K)

      Level of flexibility desired

    • L)

      Buyer/seller uncertainty

1-F. Supplier Relationship Management

1-F-1

Identify opportunities and benefits for rationalizing supply base.

Knowledge of:

  • 1)

    SWOT analysis

  • 2)

    Data-mining tools

  • 3)

    Supply base rationalization

  • 4)

    Supplier categories

    • A)

      Approved suppliers

    • B)

      Preferred suppliers

    • C)

      Partnered suppliers

    • D)

      Certified suppliers

    • E)

      Pre-qualified suppliers

    • F)

      Certifiable suppliers

    • G)

      Disqualified suppliers

    • H)

      De-barred suppliers

    • I)

      Diverse suppliers

  • 5)

    Supplier segmentation

1-F-2

Develop/manage effective relationships with suppliers.

Knowledge of:

  • 1)

    Benefits of good supplier relations

  • 2)

    Confidentiality policies

    • A)

      Typical policies regarding the possession, use and return/disposition of suppliers’ property (intellectual and physical)

    • B)

      Organizational policies for suppliers regarding your IP

  • 3)

    Ways of promoting good relations and trust

    • A)

      Top management meetings

    • B)

      Relations between suppliers and customer functions

    • C)

      Timely payment of invoices

    • D)

      Equitable treatment of suppliers

    • E)

      Periodic supplier surveys

    • F)

      Enhanced two-way communication

    • G)

      Supplier training

    • H)

      Team building

    • I)

      Supplier development

    • J)

      Periodic business reviews

  • 4)

    Issues in supplier product education and involvement

    • A)

      Advantages

    • B)

      Possible problems

    • C)

      Site visits

    • D)

      Supplier days/forums

  • 5)

    Issues in reciprocity

    • A)

      Legality

    • B)

      Impact on suppliers and buyers

    • C)

      Domestic vs. international

ISM CPSM Exam Specifications

1-F

13

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