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L4M6 Exam Dumps : Supplier Relationships

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Supplier Relationships Questions and Answers

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Question 1

Which of the following statements are true regarding the characteristics of a restricted market? Select TWO that apply.

    The marketplace is heavily regulated by Governments and legislation

    Existing suppliers within the marketplace offer excellent services

    There are many suppliers already in operation within the marketplace

    High financial investment is required to enter the marketplace

Options:

A.

1 and 2 only

B.

2 and 3 only

C.

1 and 4 only

D.

2 and 4 only

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Question 2

A common reason attributed to many partnerships failing is ...

Options:

A.

A bad advertising campaign

B.

Not winning every contract they bid for

C.

No contract being in place

D.

Poor communication

Question 3

Kyle Crant is a procurement director at ATSS Ltd and has introduced a new policy within the procurement function. The policy requires the procurement function to obtain quotations from multiple suppliers if a contract is worth over £10,000. What is the primary aim of this policy?

Options:

A.

To ensure value for money is achieved

B.

To allow procurement to select the lowest price

C.

To enable a reduction in competition

D.

To deliver an agile process

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