Sourcing Strategies

An essential feature of strategic sourcing is developing a closer relationship between buyers and supply chain suppliers.

Strategic sourcing strategies involve the selection of suppliers, contracting, product design collaboration, and development of close collaborative relationships.

Sourcing can be defined narrowly as the tactical buying of goods and services.

Supplier relationship management (SRM) was created to deal specifically with the challenges associated with tactical buying.

Strategic sourcing is easy to perform without the use of networking technologies.

Entering into a strategic relationship has what impact?

A clear objective of strategic sourcing is establishing a, more flexible, more responsive supplier base.

Which of the following bid or proposal would be used when suppliers have the opportunity to bid and rebid on a project with the objective of outbidding the competition?

A fundamental starting place in making make or buy decisions is understanding the core competencies of the business.

Engaging in competitive bidding, active sourcing, and using industry standards are all actions that are appropriate if the sourcing strategy is to:

Which type of supplier would most likely be used to purchase highly standardized commodities?

The process used to rate supplier performance is

When sourcing a supplier, a supplier that has a unique technology, distribution arrangement, or permit would be termed

The output of the process of supplier scoring and assessment is used to perform which objective?

A supplier who has met certain criteria and levels of performance that enable them to be considered as a possible supplier for business would be categorized as a

When compared to single sourcing, multiple sourcing provides which advantage?

A purchasing discount based on the total quantity or monetary amount purchased over a given period is termed a

A purchasing discount attained by paying an invoice before the accounts payable terms are reached is a

When developing a sourcing strategy buyers must be careful to:

Which of the following best outlines the tasks required in the first step of the Sourcing Process?