CORe Exam Question 166
A chemical company develops a new product that relies heavily on quartz, a common and abundant mineral.
The company believes that the new product is critical to its financial success and future growth. In developing a sourcing strategy for quartz, the company supply manager should focus PRIMARILY on
The company believes that the new product is critical to its financial success and future growth. In developing a sourcing strategy for quartz, the company supply manager should focus PRIMARILY on
CORe Exam Question 167
A firm needs training services within a short time frame. The firm's supply manager issues a request for quotation (RFQ) to training companies, evaluates the offers received, selects the lowest bidder meeting all of the requirements, and prepares a contract. The selected bidder states to the supply manager that because of the scarcity of qualified trainers, the bidder needs to offer incentives, and therefore must raise its quoted rates. In this situation, what should the supply manager do FIRST?
CORe Exam Question 168
What is the landed cost per unit for the following item?
Item cost$.76
Packaging for shipment$.02
Shipping from Indonesia$.14
Duty$.03
Customs clearance$.10
Storage at buyer's warehouse$.09
Shipment from warehouse to plant$.06
Item cost$.76
Packaging for shipment$.02
Shipping from Indonesia$.14
Duty$.03
Customs clearance$.10
Storage at buyer's warehouse$.09
Shipment from warehouse to plant$.06
CORe Exam Question 169
JKL, Inc. solicits bids for the repair of a boiler used in its shoe factory. Supplier A submits a bid of $7000. The next lowest bid is $8,000, and the remaining bids are between $10,000 and $11,000. JKL awards the contract to Supplier A. However, before beginning repairs, Supplier A realizes it made a mistake and underestimated the repair work. Supplier A refuses to do the work, saying it would lose money. If JKL declines to increase the payment and claims that Supplier A breached the contract, the MOST likely result would be which of the following?
CORe Exam Question 170
A supply management team reviews all documents dealing with processes and procedures for the supply management function. Each team member reviews the documents and reports back to the group on the accuracy of the information, particularly concerning financial transactions. Any discrepancies are documented, updated, and submitted to senior management for approval. Which of the following is the MOST important legal requirement for this activity?
