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Which of the following options are legitimate reasons for terminating a contract? Select TWO that apply.
Which of the following options are legitimate reasons for terminating a contract? Select TWO that apply.A . You ordered 10,000 items instead of 1,000B . One of the contracted parties has clearly failed to perform its dutiesC . There has been a serious breach of contract termsD . Your internal...
What is this tactic known as?
Fashion buyer Kamal Sumai is working closely with a key overseas supplier and is monitoring and forecasting cost volatility within the fabric market. Kamal has decided it is the right time to raise a purchase order with his supplier for a greater quantity of fabric than he currently needs. Kamal...
which of the following circumstances?
An amicable style approach to ending a buyer-supplier relationship would be most appropriate in which of the following circumstances?A . 1 and 2B . 1 and 3C . 3 and 4D . 1 and 4View AnswerAnswer: A Explanation: An amicable approach is critical when alternative suppliers are limited or when...
In the Purchasing Portfolio Matrix, a leverage product is a product in a market where it is easy to switch suppliers and the quality is standardized. Is this TRUE or FALSE?
In the Purchasing Portfolio Matrix, a leverage product is a product in a market where it is easy to switch suppliers and the quality is standardized. Is this TRUE or FALSE?A . False, the product is in a supply market which is highly complex and the product is of low...
Which of the following are advantages of partnering?
Which of the following are advantages of partnering?A . Supply chain consolidationB . Continual improvementC . Hard to displaceD . Prioritization of transactionsView AnswerAnswer: A, B Explanation: Partnering supports supply chain consolidation and continual improvement by fostering collaboration and shared objectives. These benefits align with the strategic goals of building...
Can the Manager do this?
A garden centre has recently purchased some lollypop sticks to use as plant labels. The staff have written the name of the plant on the lollypop stick and put it next to the plant. This helps them identify which plant is which. However, after a couple of weeks, the lollypop...
Which of the following STEEPLED factors is most likely to have the greatest effect?
A company supplies IT equipment and buys most of its components from first-tier suppliers in the UK. It wants to analyze its supply market to develop the supply chain and is going to review the main factors that have an influence. The company wants to use the STEEPLED external environmental...
the partnership?
A partnership was created between a company and one of its local suppliers when the managing directors of each company met and thought partnering could be a good idea. No other departments were included in the discussions. The partnership has been in place for over a year, but neither of...
In a monopoly market, which of the following statements is true?
In a monopoly market, which of the following statements is true?A . bargaining power of suppliers is strongB . bargaining power of buyers is strongC . There is strong rivalryD . There is a threat of new entrantsView AnswerAnswer: A Explanation: In a monopoly there is only one supplier- therefore...
A medical consumables buyer has adopted a close relationship approach with their suppliers that are considered to be complicated, technical suppliers. Is this the right approach?
A medical consumables buyer has adopted a close relationship approach with their suppliers that are considered to be complicated, technical suppliers. Is this the right approach?A . Yes, as the items are of high financial riskB . No, as there is often a supply risk with items offeredC . Yes,...
