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Exam CORe Guide Materials | Valid CORe Cram Materials

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ISM Supply Management Core Exam Sample Questions (Q281-Q286):

NEW QUESTION # 281
A manufacturing company purchases a certain component in quantities of 10,000 units per truckload. The company uses 2,000,000 units annually. The firm's supply manager identifies two possible suppliers of the component, both of which meet service and quality requirements.
Supplier A offers the component at $.69 per unit and charges $2000 to ship one truckload. Supplier B offers the component at $.71 per unit and charges $1500 to ship one truckload. Given this situation, which of the following will be MOST useful to the supply manager in deciding between the two suppliers?

A. Landed price
B. Economic order quantity
C. Value analysis
D. Cost/price analysis

Answer: A

Explanation:
* Calculate Total Cost per Supplier: This includes the unit price and shipping costs.
* Supplier A: Unit cost is $0.69. Shipping cost is $2000 per 10,000 units.
* Total cost per unit: $0.69 + ($2000/10,000) = $0.69 + $0.20 = $0.71 per unit.
* Supplier B: Unit cost is $0.71. Shipping cost is $1500 per 10,000 units.
* Total cost per unit: $0.71 + ($1500/10,000) = $0.71 + $0.15 = $0.715 per unit.
* Compare Landed Prices: The total cost per unit for Supplier A is $0.71, and for Supplier B, it is
$0.715.
* Decision: Supplier A offers the lower landed price at $0.71 per unit compared to Supplier B's $0.715 per unit.
References
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.
* Christopher, M. (2016). Logistics & Supply Chain Management. Pearson.

NEW QUESTION # 282
A supply management department is looking to standardize purchases across the entire organization and leverage spend with fewer suppliers. Which of the following will be MOST useful for determining historical baseline costs?

A. Box-Jenkins method
B. Delphi method
C. Spend analysis
D. Kraljic matrix

Answer: C

Explanation:
* Conduct Spend Analysis: Spend analysis involves the collection, cleansing, classification, and analysis of expenditure data to understand spending patterns.
* Identify Historical Costs: By analyzing past spending data, the supply management department can identify historical baseline costs for various categories.
* Leverage Data: This data can then be used to negotiate better terms with suppliers, streamline purchasing processes, and reduce costs.
* Standardization: Spend analysis helps in identifying opportunities for standardizing purchases, thus leveraging spend with fewer suppliers and achieving economies of scale.
References:
* CIPS: "Spend Analysis and Cost Reduction"
* ISM: "Spend Analysis: The Key to Strategic Sourcing"

NEW QUESTION # 283
The procurement officer for a publicly-traded U.S. company completes a 409 filing with the Securities and Exchange Commission (SEC), due to a number of supplier deliveries being missed that impact revenue forecasts. The procurement officer's NEXT step should be to

A. determine what changes can be made to contracts to ensure suppliers meet delivery deadlines
B. review with the legal department what actions can be taken against suppliers with late deliveries
C. document a corrective action plan
D. terminate contracts with suppliers who have been late with deliveries

Answer: C

Explanation:
After filing a 409 report with the SEC, the procurement officer's next step should be to document a corrective action plan. This plan outlines the steps that will be taken to address the missed supplier deliveries and ensure that such issues do not recur. The plan should include root cause analysis, actions to mitigate the risk of future delays, and a timeline for implementation. Reviewing legal options, changing contracts, or terminating supplier contracts may be components of the corrective action plan, but documenting the plan is the immediate next step to systematically address the issue and communicate internally and externally as required.
References:
* Institute for Supply Management (ISM). (2020). ISM Glossary of Key Supply Management Terms.
* Securities and Exchange Commission (SEC) Regulations.

NEW QUESTION # 284
IJK, Inc. is currently under contract with Supplier X to provide parts utilized in retail products manufactured by IJK. Demand for UK's products is expected to increase dramatically, and thus the firm's supply manager wants to explore possible cost savings. Supplier X has been a reliable supplier for many years and provides excellent quality, on-time service, and a willingness to work with UK on improvements. However, the supply manager believes Supplier X's price is too high, as a competitor is offering a lower price. Given this situation, which of the following is the BEST course of action for UK's supply manager to take?

A. Meet with Supplier X with the intent of working to reduce costs
B. Transition to the competitor offering the lower price
C. Demand concessions from Supplier X
D. Do nothing for the moment, but wait to see how much volume increases

Answer: A

Explanation:
Given Supplier X's long-standing reliability, quality, and willingness to collaborate, the best approach for the supply manager is to meet with Supplier X to discuss cost reductions. This collaborative approach maintains the positive relationship and leverages Supplier X's established performance. The supply manager can present the competitor's lower pricing as a benchmark, encouraging Supplier X to find ways to reduce costs without sacrificing quality or service.
References
* Supplier Relationship Management: Unlocking the Hidden Value in Your Supply Base by Jonathan O'Brien
* "Negotiation and Supplier Management" - Institute for Supply Management (ISM)

NEW QUESTION # 285
In calculating cash flows, which of the following scenarios would lead to a decrease in net working capital?

A. A decrease in net operating fixed assets
B. A decrease in current liabilities greater than a decrease in current assets
C. An increase in current liabilities greater than an increase in current assets
D. An increase in current assets greater than an increase in current liabilities

Answer: C

NEW QUESTION # 286
......

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