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 best way for the supply manager to gain a deeper understanding of the supplier's position is to perform a SWOT analysis. This analysis helps identify the supplier's strengths, weaknesses, opportunities, and threats. Understanding these factors provides valuable insights into the supplier's business environment, financial risks, and potential areas for collaboration. It allows the supply manager to develop a more informed negotiation strategy that addresses both parties' needs.

References:

"SWOT Analysis: A Comprehensive Guide" by Lawrence G. Fine.

ISM guidelines on supplier analysis and evaluation.

CIPS resources on strategic sourcing and supplier evaluation.

In the context of supply chain management, the highest level in a strategic plan is the objective of the organization. This is because the objective sets the overarching goals and vision for the entire supply chain. These objectives provide a clear direction and purpose, ensuring that all activities and strategies align with the broader goals of the organization. Commodity segmentation, supplier differentiation, and acquisition planning are more specific tactics and strategies that support the overall objectives but are not the highest level themselves.

References:

APICS Supply Chain Council. (2017). SCOR Model.

Chopra, S., & Meindl, P. (2016). Supply Chain Management: Strategy, Planning, and Operation.