Question 1

Blaize Manufacturing Company is using a weighted criteria evaluation system to certify suppliers.
a.Determine the total weighted score for the supplier shown below.
b.Based on the evaluation system and weights used by this firm, what is their purchasing objective?
c.Give an example of a real company that might be using this type of strategy.
d.If Blaize Mfg.classifies their vendors based on the following scores, how well is this supplier doing?
-Unacceptable (less than 50)
-Conditional (between 50 and 70)
-Certified (between 70 and 90)
-Preferred (greater than 90)

Accepted Answer

The answer of Blaize Manufacturing Company is using a weighted...

Question 2

Summers, Inc.needs to generate a list of good/services purchased per supplier.Which type software program can the manager consult to obtain this information?
A) ISO 9000
B) MRP
C) SRM
D) SCSS

Accepted Answer

SRM (Supplier Relationship Management) software programs focus on managing the interactions with suppliers, including sourcing, procurement, and vendor management. Therefore, Summers, Inc. can use SRM software to generate a list of goods and services purchased per supplier. ISO 9000 is a quality management standard that outlines requirements for a quality management system but does not focus on supplier information. MRP (Materials Requirement Planning) and SCSS (Supply Chain Management Software) are more focused on production and inventory management and may not provide the required supplier information.

Question 3

The TCO as defined in the textbook adds "all costs associated with the acquisition, use, and maintenance of a good or service."
The TCO is then broken up into three major cost categories.List the three cost categories, provide a definition of each, and then provide two examples of each of the three types of costs.

Accepted Answer

The answer of The TCO as defined in the textbook...

Question 4

According to the textbook, SRM software varies based on capabilities offered.AMR research has identified 5 areas of distinction for an SRM system.Provide three of these key tenets of SRM and explain how it is used.

Accepted Answer

The answer of According to the textbook, SRM software varies...

Question 5

Provide a list of four ways companies can motivate their suppliers to improve.

Accepted Answer

The answer of Provide a list of four ways companies...

Question 6

Which of the following is NOT a key tenant of an SRM system?
A) Automation
B) Lean operations
C) Visibility
D) Integration

Accepted Answer

While lean operations can be a goal of an SRM system, it is not considered a key tenant. The key tenants are automation, visibility, and integration.

Question 7

What are the two external certification programs discussed in the text? What does each certification attempt to certify?

Accepted Answer

The answer of What are the two external certification programs...

Question 8

SRM software should be capable of:
A) Automating transactional processes
B) Making information flow between partners more visible
C) Integration of the supply chain making it possible to monitor multiple departments and processes both internally and externally
D) All of these

Accepted Answer

SRM software should be capable of automating transactional processes, making information flow between partners more visible, and integration of the supply chain making it possible to monitor multiple departments and processes both internally and externally. Therefore, option D is the best choice.

Question 9

Before supplier relationship management (SRM), buyers typically spent 40% of their time on expediting orders.After SRM implementation buyers spent about:
A) 10% of their time on expediting orders
B) 20% of their time on expediting orders
C) 30% of their time on expediting orders
D) None of the these

Accepted Answer

The implementation of supplier relationship management (SRM) aims to improve the efficiency of the procurement process and supplier performance. One of the benefits of SRM is reducing the need for expediting orders, which means that buyers can spend more time on strategic activities instead of administrative tasks. Therefore, it is reasonable to expect that the time spent on expediting orders after SRM implementation will be lower than before. A reduction to 10% of the time spent on expediting orders would indicate a significant improvement.

Question 10

A company using a weighted-criteria evaluation system has established these 4 categories and the appropriate weight in parentheses: Technology(0.25), Quality(0.30), Environmental (0.20), Cost(0.25).Currently they use supplier ABC that presently has a supplier score of 85.Calculate supplier XYZ's total score and decide (based on supplier score) if the company should change suppliers.
The scores for supplier XYZ are shown below for each category.

Accepted Answer

The answer of A company using a weighted-criteria evaluation system...

Question 11

For each of the following programs, processes, certifications, etc.explain how they can be useful in improving supplier relationships and motivating business partners to provide the best possible products and services.
a.ISO 9000
b.TCO
c.Supplier development programs
d.Supplier recognition programs

Accepted Answer

The answer of For each of the following programs, processes,...

Question 12

Suppose your organization is attempting to set up a new strategic alliance with a supplier.You are considered the key manager from your organization to manage this alliance.What would be your goals for the planning stages of this proposed alliance? What would be your goals for the first few months of the alliance? What would be your long-term goals for the alliance?

Accepted Answer

The answer of Suppose your organization is attempting to set...

Question 13

SRM software can automate procurement activities that lead to significant cost savings as purchasing professionals move toward:
A) Collaborative planning
B) Diversifying their hiring
C) Improving capacity
D) Expediting each order

Accepted Answer

Collaborative planning involves finding common goals and working together to achieve them. By automating procurement activities, purchasing professionals can collaborate more easily with suppliers and internal stakeholders, resulting in better planning and cost savings. Diversifying hiring, improving capacity, and expediting each order may also lead to cost savings, but are not directly related to the benefits of SRM software.

Question 14

Streamlining the processes and communications between the buyer and supplier using software applications that enable these processes to be managed more efficiently and effectively can be referred to as:
A) CRM
B) SRM
C) ISO 9000
D) SCSS

Accepted Answer

The described scenario is referring to Supplier Relationship Management (SRM) which involves the use of software applications to manage and streamline the interactions and processes between a buyer and supplier. CRM (Customer Relationship Management) is focused on managing interactions with customers, ISO 9000 is a quality management system standard, and SCSS is not a recognized acronym in the field of supply chain management.

Quiz 3: Creating and Managing Supplier Relationships

Summers, Inc.needs to generate a list of good/services purchased per supplier.Which type software program can the manager consult to obtain this information?

According to the textbook, SRM software varies based on capabilities offered.AMR research has identified 5 areas of distinction for an SRM system.Provide three of these key tenets of SRM and explain how it is used.

Provide a list of four ways companies can motivate their suppliers to improve.

Which of the following is NOT a key tenant of an SRM system?

What are the two external certification programs discussed in the text? What does each certification attempt to certify?

SRM software should be capable of:

Before supplier relationship management (SRM) , buyers typically spent 40% of their time on expediting orders.After SRM implementation buyers spent about:

For each of the following programs, processes, certifications, etc.explain how they can be useful in improving supplier relationships and motivating business partners to provide the best possible products and services. a.ISO 9000 b.TCO c.Supplier development programs d.Supplier recognition programs

SRM software can automate procurement activities that lead to significant cost savings as purchasing professionals move toward:

Streamlining the processes and communications between the buyer and supplier using software applications that enable these processes to be managed more efficiently and effectively can be referred to as: