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.

Company Situation: TUV Inc. is aiming to rebuild its customer base and return to profitability.

Negotiations with Key Supplier: Achieving target costs and pricing is critical for the turnaround.

Challenging Constraint: The troubled financial history of TUV poses the most significant challenge in negotiations. Suppliers may be hesitant to offer favorable terms to a financially unstable company, affecting credit terms, pricing, and trust.

Financial Stability: Ensuring TUV's financial stability is crucial for gaining supplier confidence and securing advantageous terms.

References

ISM. (n.d.). Negotiating with Suppliers: Addressing Financial Constraints.

CIPS. (n.d.). Overcoming Financial Challenges in Supplier Negotiations.

Involving too many stakeholders who have not been part of the sourcing process can complicate and prolong negotiations. The best approach is to include a limited number of key stakeholders who have relevant expertise and can provide valuable feedback at specific points in the negotiation. This ensures that the negotiation process remains efficient and focused while incorporating essential input from the most knowledgeable participants. References:

"Negotiation for Purchasing Professionals" by Jonathan O'Brien

"Supply Chain Management: Strategy, Planning, and Operation" by Sunil Chopra and Peter Meindl