1
For Expert help and assignment solutions, +254707240657
CPSM Exam 1 Sourcing Process Overview
Questions and Answers (100% Correct
Answers) Already Graded A+
Q: Recognition of Need
Ans: Identifying that a product or service is required.
Q: Specification of Need
© 2025 Assignment Expert
Ans: Detailing technical and performance requirements, quality,
quantity, and delivery timing.
Guru01 - Stuvia
Q: Searching for Potential Sources
Ans: Identifying suppliers who could fulfill the need.
Q: Analyze Suppliers' Proposals and Capabilities
Ans: Evaluating supplier bids and their ability to meet specifications.
Q: Negotiation with and Selection of Supplier
Ans: Selecting the best-value supplier and negotiating contract terms.
Q: Administration of the Contract
Ans: Managing the agreement and ensuring compliance.
Q: Evaluation of Performance and Feedback
Ans: Reviewing supplier performance and sharing feedback.
Q: Disposal of Excess, Scrap, or Surplus
Ans: Managing remaining inventory or materials at the end of use.
, 2
For Expert help and assignment solutions, +254707240657
Q: Internal Stakeholders
Ans: Internal customers (e.g., business units, departments), top
management, finance, operations, engineering, legal, and others
impacted by sourcing decisions.
Q: External Stakeholders
Ans: Suppliers and potential suppliers, end customers, logistics
providers, governments (due to regulations), trade unions, community
members, and other supply chain partners.
Q: Needs
Ans: Essential attributes that the good or service must have to fulfill the
© 2025 Assignment Expert
organization's requirements (e.g., minimum technical specs, required
quality level).
Q: Wants
Guru01 - Stuvia
Ans: Desirable features or performance attributes that are not
mandatory but add value (e.g., advanced features, brand
preferences).
Q: Budget
Ans: Ensures spending stays within financial limits and sourcing must
deliver value without exceeding allocated costs.
Q: Operational
Ans: Addresses delivery timing, packaging, inventory levels, and risk
mitigation, aligning with day-to-day functional requirements of the
organization.
Q: Strategic
Ans: Supports long-term goals of the organization, business units, and
the supply function, aligning internal stakeholder demands with
strategic sourcing priorities.
Q: Direct Materials
, 3
For Expert help and assignment solutions, +254707240657
Ans: Materials that are directly used in the production of goods.
Q: Indirect Materials (MRO)
Ans: Materials used in maintenance, repair, and operations that are
not part of the final product.
Q: Capital Expenditures
Ans: Funds used by a company to acquire or upgrade physical assets
such as property, industrial buildings, or equipment.
Q: Operating Expense
© 2025 Assignment Expert
Ans: The ongoing cost for running a product, business, or system.
Q: Corporation
Ans: A legal entity that exists independently of its creators which has
Guru01 - Stuvia
many rights given to individuals, can enter into contracts, buy and sell.
Q: Disposal
Ans: The process of removing something from a location, typically the
removal of scrap, surplus, excess, obsolete and waste items from an
organization's premises.
Q: Influence
Ans: The capability to affect actions, behaviors or opinions, often
without overt or apparent action on the part of the influencer.
Q: Objectives
Ans: General statements about expected outcomes; targets set by
management.
Q: Solicitation
Ans: A request to suppliers to make submission to a purchasing
organization.
Q: Critical Document
For Expert help and assignment solutions, +254707240657
CPSM Exam 1 Sourcing Process Overview
Questions and Answers (100% Correct
Answers) Already Graded A+
Q: Recognition of Need
Ans: Identifying that a product or service is required.
Q: Specification of Need
© 2025 Assignment Expert
Ans: Detailing technical and performance requirements, quality,
quantity, and delivery timing.
Guru01 - Stuvia
Q: Searching for Potential Sources
Ans: Identifying suppliers who could fulfill the need.
Q: Analyze Suppliers' Proposals and Capabilities
Ans: Evaluating supplier bids and their ability to meet specifications.
Q: Negotiation with and Selection of Supplier
Ans: Selecting the best-value supplier and negotiating contract terms.
Q: Administration of the Contract
Ans: Managing the agreement and ensuring compliance.
Q: Evaluation of Performance and Feedback
Ans: Reviewing supplier performance and sharing feedback.
Q: Disposal of Excess, Scrap, or Surplus
Ans: Managing remaining inventory or materials at the end of use.
, 2
For Expert help and assignment solutions, +254707240657
Q: Internal Stakeholders
Ans: Internal customers (e.g., business units, departments), top
management, finance, operations, engineering, legal, and others
impacted by sourcing decisions.
Q: External Stakeholders
Ans: Suppliers and potential suppliers, end customers, logistics
providers, governments (due to regulations), trade unions, community
members, and other supply chain partners.
Q: Needs
Ans: Essential attributes that the good or service must have to fulfill the
© 2025 Assignment Expert
organization's requirements (e.g., minimum technical specs, required
quality level).
Q: Wants
Guru01 - Stuvia
Ans: Desirable features or performance attributes that are not
mandatory but add value (e.g., advanced features, brand
preferences).
Q: Budget
Ans: Ensures spending stays within financial limits and sourcing must
deliver value without exceeding allocated costs.
Q: Operational
Ans: Addresses delivery timing, packaging, inventory levels, and risk
mitigation, aligning with day-to-day functional requirements of the
organization.
Q: Strategic
Ans: Supports long-term goals of the organization, business units, and
the supply function, aligning internal stakeholder demands with
strategic sourcing priorities.
Q: Direct Materials
, 3
For Expert help and assignment solutions, +254707240657
Ans: Materials that are directly used in the production of goods.
Q: Indirect Materials (MRO)
Ans: Materials used in maintenance, repair, and operations that are
not part of the final product.
Q: Capital Expenditures
Ans: Funds used by a company to acquire or upgrade physical assets
such as property, industrial buildings, or equipment.
Q: Operating Expense
© 2025 Assignment Expert
Ans: The ongoing cost for running a product, business, or system.
Q: Corporation
Ans: A legal entity that exists independently of its creators which has
Guru01 - Stuvia
many rights given to individuals, can enter into contracts, buy and sell.
Q: Disposal
Ans: The process of removing something from a location, typically the
removal of scrap, surplus, excess, obsolete and waste items from an
organization's premises.
Q: Influence
Ans: The capability to affect actions, behaviors or opinions, often
without overt or apparent action on the part of the influencer.
Q: Objectives
Ans: General statements about expected outcomes; targets set by
management.
Q: Solicitation
Ans: A request to suppliers to make submission to a purchasing
organization.
Q: Critical Document
