CORE Exam Dumps : Supply Management Core Exam

Project Timeline: The construction must begin within four months and be completed within a year.

Performance Monitoring: To ensure timely completion, setting clear milestones and requiring progress reports keeps the project on track and allows for early identification of potential delays.

Liquidated Damages: Including liquidated damages clauses for noncompliance provides a financial incentive for the contractor to meet deadlines and minimizes the risk of delays.

Accountability: This comprehensive approach ensures accountability and provides mechanisms to enforce timely project completion.

References

ISM. (n.d.). Effective Contract Management and Performance Monitoring.

CIPS. (n.d.). Best Practices in Project Management for Procurement.

The issue of a supplier not maintaining a steady workforce indicates a failure to assess labor stability during supplier performance evaluations:

Labor stability: Evaluating the supplier’s ability to maintain a steady workforce would have highlighted potential issues affecting continuity and reliability.

Quality metrics: Important, but this issue pertains to workforce stability.

Financial stability: While crucial, it does not directly address the problem of workforce fluctuations.

Business continuity: Broadly relevant, but labor stability is a more specific indicator of the workforce issue.

Therefore, the manufacturer likely failed to examine labor stability.

References:

Supplier performance evaluation best practices.

Risk management in supply chain literature.

A Pareto analysis chart is used to identify and rank the most important categories based on the principle that 80% of effects come from 20% of causes. By conducting a spend analysis and using a Pareto analysis chart, the supply manager can determine which categories account for the majority of the company's spending. This helps in prioritizing efforts and resources towards the most impactful categories.

References

Juran, J.M. (1989). Juran on Leadership For Quality: An Executive Handbook.

CIPS (Chartered Institute of Procurement & Supply). Spend Analysis and Pareto Principle.