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L4M6 Practice Exam Questions and Answers

Supplier Relationships

Last Update 5 days ago
Total Questions : 120

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Question # 1

Francisco has entered a partnership with Pedro, who is a key supplier, and wants to ensure that the partnership achieves all of Francisco’s goals. As well as qualitative and quantitative KPIs, what other measures could Francisco take to ensure the partnership is a success?

Options:

A.  

Do frequent appraisals on the supplier

B.  

Conduct regular audits

C.  

Ensure there is a damages clause in the contract

D.  

Threaten the supplier with termination if he underperforms

Discussion 0
Question # 2

In public sector procurement, according to EU legislation, certain items must be procured via open-competition. What type of items are these?

Options:

A.  

Items that are imported from outside the EU

B.  

Items of high value

C.  

Items of strategic importance

D.  

Items that are produced by lots of suppliers

Discussion 0
Question # 3

Why is it more difficult for buyers in the public sector to build relationships with suppliers?

Options:

A.  

Buyer power is weak in the public sector

B.  

Buyer power is strong in the public sector

C.  

There are regulations prohibiting public sector buyers from developing relationships

D.  

There are regulations that state competitive tender processes must be undertaken regularly

Discussion 0
Question # 4

Which of the following are Intellectual Property Rights that you would you encounter in procurement and supply contracts? Select THRE

E.  

Options:

A.  

Method Statements

B.  

Risk Assessments

C.  

Patents

D.  

Copywrite

E.  

Trademark

Discussion 0
Question # 5

In a partnership who is responsible for decision making?

Options:

A.  

The project steering committee

B.  

Both the supplier and the buyer

C.  

The buyer

D.  

The supplier

Discussion 0
Question # 6

Varying levels of commitment is one reason why many partnerships fail. Why is this?

Options:

A.  

It can lead to a lack of trust

B.  

One party doesn’t fulfil their KPIs

C.  

Sufficient time and resources are put in

D.  

Less profit is made.

Discussion 0
Question # 7

Which of the following would you use to qualify new suppliers? Select THRE

E.  

Options:

A.  

commitment

B.  

clean

C.  

collection

D.  

cost

E.  

call

Discussion 0
Question # 8

At what stage of the relationship cycle could you use Carter's 10 Cs?

Options:

A.  

on-boarding

B.  

qualification

C.  

segmentation and risk management

D.  

development and innovation

Discussion 0
Question # 9

A restricted market is a market where there are only a small number of capable and competent suppliers. Which of the following is not a reason for a marketplace to be restricted?

Options:

A.  

Low levels of profitability

B.  

High barriers to entry

C.  

Strong governmental regulation

D.  

The product is easy to source elsewhere

Discussion 0
Question # 10

The Pareto Principle is sometimes also known as what?

Options:

A.  

Five Forces

B.  

JIT

C.  

ABC Analysis

D.  

Cost Engineering

Discussion 0
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