CORE Exam Dumps : Supply Management Core Exam

Soliciting cross-functional input when developing a category management plan is crucial because it ensures that the plan considers the perspectives and requirements of various stakeholders and functional areas. This collaboration helps in creating a comprehensive and effective plan that addresses the needs of the entire organization, leading to more sustainable and long-term solutions.

References

CIPS (Chartered Institute of Procurement & Supply). Cross-functional Team Collaboration in Category Management.

ISM (Institute for Supply Management). Benefits of Cross-functional Teams in Supply Management.

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.

In a situation where internal stakeholders are not in agreement with the CEO’s directive, creating a steering committee is the best course of action for supply management. This committee can facilitate discussion, ensure all perspectives are considered, and guide the project’s direction in a structured manner. Polling external stakeholders, selecting the best source of supply, and performing cost regression analysis are useful actions but do not address the need for internal alignment and strategic guidance. References: Change management principles, stakeholder management strategies, project management frameworks.