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In addition to the knowledge gained from taking the exam, the CSCP certification also provides numerous benefits for professionals in the supply chain industry. It provides a recognized standard of proficiency that is respected by employers, colleagues, and customers alike. It also gives individuals access to a global community of supply chain professionals, as well as numerous educational and professional development opportunities. Furthermore, achieving CSCP Certification has been shown to result in a significant increase in earning potential for individuals in the supply chain industry.
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Supply chains and supply chain processes exist in which of the following organizations?
I. for-profit organizations
II. military organizations
III.
charitable organizations
A. II
B. I and II
C. I
D. I and III
E. I, II and III
Answer: E
NEW QUESTION # 156
An effective procurement strategy for commodity products should focus on:
A. selecting suppliers with value-added products.
B. driving down cost and reducing risk.
C. selecting primary and alternate sources.
D. spreading purchases equally across suppliers.
Answer: B
Explanation:
* Commodity Products: These are raw materials or primary agricultural products that can be bought and sold, such as copper or coffee. They are typically standardized and interchangeable with other products of the same type.
* Procurement Strategy: An effective procurement strategy for commodities focuses on cost efficiency and risk mitigation due to the high volatility and price sensitivity of these products.
* Driving Down Cost: This involves negotiating better prices, leveraging economies of scale, and implementing cost-saving measures to ensure the company purchases commodities at the lowest possible price.
* Reducing Risk: Risk reduction strategies include diversifying suppliers, using forward contracts to lock in prices, and implementing robust supply chain risk management practices to protect against price fluctuations, supply disruptions, and geopolitical risks.
References:
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.
* Chopra, S., & Meindl, P. (2016). Supply Chain Management: Strategy, Planning, and Operation.
Pearson.
NEW QUESTION # 157
The implementation of major enterprise-wide changes to eliminate or significantly reduce waste is related to which of the following concepts?
A. Kaizen
B. Kanban
C. Six Sigma
D. Lean
Answer: D
NEW QUESTION # 158
A company is considering relocating production to a lower-wage country. Volatility in which of the following areas most likely would impact profitability without modifying product landed costs?
A. Commodity prices
B. Currency exchange rates
C. Labor costs
D. Product quality
Answer: B
Explanation:
Explanation/Reference:
NEW QUESTION # 159
Which of the following types of data most likely will be communicated between two parties who have formed a strategic alliance?
A. Stochastic
B. Bill of material (BOM)
C. Proprietary
D. Product specifications
Answer: C
Explanation:
* Strategic Alliance Definition: A strategic alliance is a formal agreement between two companies to work together towards common objectives while remaining independent.
* Data Sharing in Alliances: In a strategic alliance, the data shared between parties is critical to achieving mutual goals and maintaining competitive advantage.
* Types of Data:
* Stochastic Data: Data that incorporates randomness and uncertainty, typically not the primary focus in a strategic alliance.
* Proprietary Data: Confidential and exclusive information that gives a competitive edge, crucial for strategic alliances to develop joint strategies.
* Bill of Material (BOM): A comprehensive list of parts, items, assemblies, and other materials required to create a product, which might be shared but is not as crucial as proprietary data.
* Product Specifications: Detailed descriptions of a product's design and features, important but generally included under the broader scope of proprietary data.
* Conclusion: Proprietary data, including sensitive business information, is most likely communicated between parties in a strategic alliance to ensure coordinated efforts and mutual benefits.
References
* "Strategic Supply Chain Management: The Five Disciplines for Top Performance" by Shoshanah Cohen and Joseph Roussel.
* APICS Dictionary, 16th Edition.