CORE Exam Dumps : Supply Management Core Exam

The best course of action is to determine with senior management and internal stakeholders the acceptable levels of risk for each product. This collaborative approach ensures that the organization has a clear understanding of its risk tolerance and can develop appropriate strategies to mitigate those risks. It involves assessing the potential impact of risks on the business and aligning risk management strategies with the company's overall objectives. This preparation is crucial for effective negotiations with suppliers, ensuring that all parties are on the same page regarding risk management.

References

Risk Management in Supply Chains by David L. Olson and Desheng Dash Wu

COSO (Committee of Sponsoring Organizations of the Treadway Commission) ERM (Enterprise Risk Management) Framework

ISO 31000 Risk Management Standards

The first step in ensuring that any solicitation for services uses up-to-date specifications and attracts good potential sources is to issue a Request for Information (RFI). An RFI allows the firm to gather information about available training packages and potential suppliers. It helps in understanding the market capabilities and the solutions that suppliers can offer. This information can then be used to create a more detailed and accurate Request for Proposal (RFP).

References

CIPS (Chartered Institute of Procurement & Supply). The Use of RFIs in the Procurement Process.

ISM (Institute for Supply Management). Guidelines for Effective RFIs.

Requesting and Testing Samples from All Possible Supplier Manufacturing Locations: This would have ensured that DEF Inc. tested the quality of products from the actual production facility, not just the sample facility.

Requesting Larger Samples: While this might help, it doesn't address the issue of different production environments potentially affecting quality.

Requiring Assurance from Supplier: This is important but not sufficient by itself. The assurance doesn't substitute for actual testing from the correct facility.

Stricter Quality Controls at Receiving Dock: This is a reactive measure and doesn't prevent the problem from occurring in the first place.

References

Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.

Burt, D. N., Petcavage, S. D., & Pinkerton, R. L. (2010). Supply Management. McGraw-Hill Education.