CORE Exam Dumps : Supply Management Core Exam

The most likely advantage of multiple sourcing is the ability to test new suppliers with little risk. By sourcing from multiple suppliers, the organization can evaluate the performance, quality, and reliability of new suppliers without fully committing to a single source. This approach mitigates the risk associated with dependency on one supplier and provides opportunities for better pricing, innovation, and risk management.

References

CIPS (Chartered Institute of Procurement & Supply). Multiple Sourcing Strategies.

ISM (Institute for Supply Management). Supplier Diversification and Risk Management.

To avoid the situation where a shipment is rejected due to lack of verification with the supply management department, the designer should have C. coordinated product needs with supply management prior to order commitment. This coordination ensures that all orders are placed through the proper channels, maintaining the integrity of the order management process and preventing issues upon delivery12.

Adopting Category Management: Executive support has been obtained to implement category management.

Key Step: Conducting a spend and forecast analysis is crucial to understanding current expenditures and future needs.

Spend Analysis: Helps in identifying how much is spent in different categories and areas of potential savings.

Forecast Analysis: Projects future needs based on historical data, market trends, and organizational goals, ensuring that the categories are managed effectively.

References

CIPS. (n.d.). Category Management: Best Practices.

ISM. (n.d.). Conducting Spend Analysis for Effective Procurement.