CORE Exam Dumps : Supply Management Core Exam

Identify Stakeholder Needs: Understanding the specific performance issues as identified by the stakeholder.

Collaborative Measurement Development: Working with the stakeholder to develop specific, measurable, achievable, relevant, and time-bound (SMART) performance metrics.

Contract Amendment: Including these agreed-upon performance metrics in the contract ensures that the supplier is contractually obligated to meet these standards.

Monitor and Review: Regularly reviewing these performance metrics to ensure continuous improvement and compliance by the supplier.

References

Supplier Performance Management Literature

Contract Management Best Practices

Service Level Agreement Guidelines

The willingness of a supplier to deal with rejected materials, manage order surges, and provide technical support is greatly influenced by the relationship they have with the buying organization.

Creating teaming agreements with suppliers: This can formalize collaboration but does not inherently foster goodwill and responsiveness.

Negotiating inclusive terms and conditions: Important for clarity and expectations, but it is the relationship that often determines the supplier’s extra effort.

Maintaining good supplier relationships: Strong relationships encourage suppliers to go above and beyond the contractual requirements, fostering a sense of partnership and mutual support.

Including such conditions in the statement of work: Ensures these terms are contractually agreed but does not guarantee the supplier’s proactive engagement.

Thus, the most influential factor is maintaining good supplier relationships.

References:

Supplier relationship management best practices.

Articles on the impact of relationship management in supply chains.

Supplier development refers to activities undertaken by a buying organization to improve the performance of its suppliers. This typically involves formally evaluating suppliers to understand their capabilities, conducting site visits to observe operations and identify areas for improvement, and providing training to help suppliers meet the buying organization's standards and requirements. The goal is to enhance the supplier's performance, leading to improved quality, cost, and delivery times, ultimately benefiting the entire supply chain.References:

Supplier Evaluation and Performance Excellence: A Guide to Meaningful Metrics and Successful Results by Sherry Gordon.

CIPS (Chartered Institute of Procurement & Supply) guidelines on supplier development.