CORE Exam Dumps : Supply Management Core Exam

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.

Positional bargaining is a negotiation strategy where each side adopts a fixed position and then negotiates to close the gap through concessions and compromise. This approach focuses on maintaining specific demands and making adjustments to reach a mutually acceptable agreement. It contrasts with interest-based bargaining, which focuses on underlying interests rather than fixed positions.

References

Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and William Ury

Harvard Business Review articles on negotiation tactics

Once the project has been approved by senior management and the team has been selected, the next logical step for the supply manager is to conduct market research to identify possible suppliers. This involves gathering and analyzing data about the market to understand the availability of suppliers, their capabilities, and their potential fit with the organization's needs. Market research helps to identify potential suppliers that can meet the raw material requirements, ensuring a robust supply base is developed to support the category management plan. References:

"Purchasing and Supply Chain Management" by Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, and James L. Patterson

Institute for Supply Management (ISM) guidelines on supplier selection and market research