GSCM 201 – FINAL REVIEW QUESTIONS
AND 100% CORRECT ANSWERS.
\.Supplier Relationship Management (SRM) - ANSWERS✔-SRM involves taking
care of the most important suppliers. It also includes the overall management and
strategic decision making that goes into a company's purchasing strategy
\.Transactional/Arm's Length - ANSWERS✔-Lots of Options/Cost Based
\.Collaborative/Strategic - ANSWERS✔-Not lots of options/Relationship Based
\.Leverage Items - ANSWERS✔-- exploitation of full purchasing power
- targeted pricing strategies/negotiations
- abundant supply
\.Non-Critical Items - ANSWERS✔-- product standardization
- process efficiency
- abundant supply
\.Strategic Items - ANSWERS✔-- development of long-term relationships
- collaboration and innovation
- natural scarcity
, \.Bottleneck Items - ANSWERS✔-- low control of suppliers
- innovation and product substitution and replacement
- production-based scarcity
\.Supplier Segmentation - ANSWERS✔-Map suppliers against profitability and risk
exposure
\.Supplier Strategy Development - ANSWERS✔-Distribute internal resources and
plans to meet business needs
\.Supplier Strategy Execution - ANSWERS✔-to execute
\.Classification - ANSWERS✔-Strategic, bottleneck, non-critical, leverage
\.Market Analysis - ANSWERS✔-Assess supplier strength as well as company
strength
\.strategic positioning - ANSWERS✔-identifies opportunities of vulnerability
\.Action Plans - ANSWERS✔-Company explores scenarios and lays out plans for
securing long-term supply and for exploiting short-term opportunities
\.Service Supply Chains - ANSWERS✔-customer input > action > service output
AND 100% CORRECT ANSWERS.
\.Supplier Relationship Management (SRM) - ANSWERS✔-SRM involves taking
care of the most important suppliers. It also includes the overall management and
strategic decision making that goes into a company's purchasing strategy
\.Transactional/Arm's Length - ANSWERS✔-Lots of Options/Cost Based
\.Collaborative/Strategic - ANSWERS✔-Not lots of options/Relationship Based
\.Leverage Items - ANSWERS✔-- exploitation of full purchasing power
- targeted pricing strategies/negotiations
- abundant supply
\.Non-Critical Items - ANSWERS✔-- product standardization
- process efficiency
- abundant supply
\.Strategic Items - ANSWERS✔-- development of long-term relationships
- collaboration and innovation
- natural scarcity
, \.Bottleneck Items - ANSWERS✔-- low control of suppliers
- innovation and product substitution and replacement
- production-based scarcity
\.Supplier Segmentation - ANSWERS✔-Map suppliers against profitability and risk
exposure
\.Supplier Strategy Development - ANSWERS✔-Distribute internal resources and
plans to meet business needs
\.Supplier Strategy Execution - ANSWERS✔-to execute
\.Classification - ANSWERS✔-Strategic, bottleneck, non-critical, leverage
\.Market Analysis - ANSWERS✔-Assess supplier strength as well as company
strength
\.strategic positioning - ANSWERS✔-identifies opportunities of vulnerability
\.Action Plans - ANSWERS✔-Company explores scenarios and lays out plans for
securing long-term supply and for exploiting short-term opportunities
\.Service Supply Chains - ANSWERS✔-customer input > action > service output
