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L4M6 Exam Dumps : Supplier Relationships

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Supplier Relationships Questions and Answers

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Question 1

A 'restricted market' is likely to arise when the entry costs for new suppliers are prohibitively high, and levels of market profitability amongst existing suppliers may be relatively low. Is this a true statement?

Options:

A.

No, entry costs are low in all markets due to technology, and this is increasing profitability significantly

B.

Yes, these markets usually have only a small number of competent and capable suppliers

C.

No, usually these markets have a regular flow of new suppliers entering them

D.

Yes, new entrants are low; however, due to high competition, profit levels are always very high

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Question 2

Which of the following are advantages of partnering?

Options:

A.

Supply chain consolidation

B.

Continual improvement

C.

Hard to displace

D.

Prioritization of transactions

Question 3

Harry has just entered into a partnership with a key supplier. Although he is excited about the prospect, he thinks it’s a good idea to set some goals and KPIs. Which of the following criteria should Harry use to decide if a KPI is appropriate?

Options:

A.

Measurable, achievable and relevant

B.

Relatable, precise, and measurable

C.

Time bound, difficult and relevant

D.

Significant, measurable and achievable

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