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NEW QUESTION # 142
A company restructures its supply management department by creating commodity management teams with representatives from procurement, engineering, quality and production. These new teams have complete responsibility for their assigned commodities, including sourcing, quality, inventory planning and risk/cost management. Six months later, there is significant progress in a few commodity areas, but some teams are still not working smoothly together. To assess the impact of the commodity teams, which of the following measurements will offer the MOST useful information?
Answer: C
Explanation:
* Comprehensive Metric: Total cost is a comprehensive metric that includes all aspects of cost management, such as purchase price, inventory costs, quality costs, and logistics costs.
* Assessing Team Impact: Evaluating total cost allows the organization to assess the overall impact of the commodity management teams on the company's cost structure and financial performance.
* Holistic View: Unlike individual metrics like inventory turns, purchase price, or delivery schedules, total cost provides a holistic view of the efficiency and effectiveness of the commodity teams.
* Continuous Improvement: Monitoring total cost helps identify areas for improvement across the entire supply chain, facilitating continuous improvement initiatives and cost-saving strategies.
* Reference: The importance of total cost measurement is emphasized in supply chain management literature and best practices, such as those outlined in "Supply Chain Management: Strategy, Planning, and Operation" by Sunil Chopra and Peter Meindl, and guidelines from the Institute for Supply Management (ISM).
NEW QUESTION # 143
A supply management department experiences a high number of sexual harassment complaints, resulting in the dismissal of the department manager. The new manager is tasked with improving discipline and creating a more positive, productive environment. Which of the following is the MOST effective course action for the new manager to take?
Answer: B
Explanation:
The most effective course of action for the new manager to improve discipline and create a more positive, productive environment is to meet with human resources to discuss the implementation of a zero-tolerance policy on sexual harassment.
Zero-Tolerance Policy: Implementing a zero-tolerance policy sends a clear message that sexual harassment will not be tolerated under any circumstances. This helps in creating a safe and respectful work environment.
HR Collaboration: Working with HR ensures that the policy is well-structured, legally compliant, and effectively communicated to all employees. HR can also provide training and support for the policy's implementation.
Cultural Change: A zero-tolerance policy is a critical step towards changing the department's culture, ensuring that all employees understand the seriousness of the issue and the consequences of violating the policy.
Reference:
Equal Employment Opportunity Commission (EEOC) guidelines on sexual harassment.
Burke, R.J., & Cooper, C.L. (2005). Reinventing Human Resource Management: Challenges and New Directions. Routledge.
NEW QUESTION # 144
A supply management audit finds that sole source purchases have increased significantly due to the inexperience of the sourcing team, and that the waiving of competition is not justified in many cases. This has resulted in increased costs, as well as noncompliance with organizational policies requiring competitive solicitations. Which of the following is the BEST way to rectify this situation?
Answer: A
Explanation:
Issue Identification:
Increased sole source purchases due to inexperience of the sourcing team.
Noncompliance with competitive solicitation policies leading to increased costs.
Rectifying the Situation:
Training Staff: Provides the sourcing team with necessary knowledge and skills to understand and follow solicitation policies, reducing the likelihood of noncompliance.
Reporting Noncompliance: Addresses the issue after it occurs but does not prevent future occurrences.
Improving Audit Procedures: Helps identify issues sooner but does not directly address the root cause (lack of training).
Making Sole Source Review a KPI: Encourages monitoring but does not equip the team with the knowledge to comply.
Conclusion: Training staff in solicitation policies and practices addresses the root cause by ensuring the sourcing team is well-informed and capable of complying with competitive solicitation requirements.
Reference:
Procurement training programs and resources from the National Institute of Governmental Purchasing (NIGP) Best practices in procurement and supply chain management from the Chartered Institute of Procurement & Supply (CIPS) Top of Form Bottom of Form
NEW QUESTION # 145
An internal audit at FGH, Inc. reveals that a long-term supplier is charging labor rates not aligned with current contractual pricing. FGH has a significant amount of trust in this supplier and does not believe the supplier intended to act unethically. In this situation, which of the following should be the FIRST step pursued by FGH to correct the discrepancy?
Answer: D
Explanation:
In a situation where there is a discrepancy in labor rates charged by a trusted long-term supplier, the first step should be to perform a validation process. This involves verifying the accuracy of the charges and comparing them with the contractual agreement. Conducting a validation process ensures that any errors are identified and corrected systematically, maintaining trust and transparency between FGH and the supplier. This step is essential before moving to other actions like cost/benefit analysis or establishing a time frame for recovery, as it confirms whether there is indeed a discrepancy that needs to be addressed.
Reference:
Baily, P., Farmer, D., Crocker, B., Jessop, D., & Jones, D. (2015). Procurement Principles and Management. Pearson Education.
Lysons, K., & Farrington, B. (2012). Purchasing and Supply Chain Management. Pearson Education.
NEW QUESTION # 146
A commodity manager and a salesperson from a major supplier have worked together for many years and have developed a cordial relationship. The salesperson sends the commodity manager two VIP tickets to a golf tournament. Which of the following is the MOST appropriate way for the commodity manager to respond to this gift?
Answer: C
Explanation:
Ethical Guidelines for Gift Acceptance:
Most organizations have strict policies on accepting gifts to avoid conflicts of interest or the appearance of impropriety.
Accepting gifts from suppliers can create a conflict of interest or influence future business decisions.
Appropriate Response to Gifts:
Returning the Tickets: Clearly communicates adherence to ethical standards and avoids any potential conflict of interest.
Accepting the Tickets: Could be seen as a violation of company policies, even if there is no direct association with future business.
Forwarding to Legal or Supervisor: Delegates the decision but does not immediately address the ethical consideration.
Conclusion: Returning the tickets with a courteous letter is the most appropriate and ethically sound response, maintaining transparency and avoiding potential conflicts.
Reference:
Institute for Supply Management (ISM) principles and standards of ethical supply management conduct Company-specific codes of conduct and ethics policies
NEW QUESTION # 147
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