Question

1. Mr. Brown is a warehouse manager for Toyota at Florida. He is asked by his boss Mr. Sean to devise a plan for effective strategic sourcing of the parts. Which of these elements must be kept in mind by Mr. Brown while coming up with his plan for strategic sourcing?

a. Mr. Brown needs to divide the expenditure into categories and then classify the categories based on the importance of that product.

b. Mr. Brown needs to identify the complexity of the supplier marketplace.

c. Mr. Brown needs to identify the relationship required between Toyota and the purchasing organization.

d. All of the mentioned options.

2.            You are in the process of planning a project and found that stakeholders often have varying objectives and requirements. This makes it hard to come up with a plan which will ensure that all objectives are met. What might be the most helpful option to ensure a common understanding?

a.            Ask the project stakeholders to build focus groups in order to discuss and remedy conflicting interests.

b.            Create an exhaustive document describing your point of view and ask stakeholders to review it.

c.             Let each stakeholder write a statement of work, merge the documents to a project scope statement.

d.            Use your authorization as the project manager to clearly prioritize the different objectives.

3. Your goal as an account manager is to leverage your product to assist customers. Which of the following steps will you take to achieve your goals?

S1: By creating product awareness to the right kind of stakeholders

S2: By reducing the price of your product and services

S3: By creating an authentic product which is in line to customer requirements

a.            S1

b.            S3

c.             S2 and S3

d.            S3 and S1

Answer 1

​​​​​​1) a) Mr. Brown needs to divide the expenditure into categories and then classify the categories based on the importance of that product.

Strategic sourcing is when a process tries to develop different channels of supply at the lowest possible total costs. It also aims to meet individual customer needs and also focus on the procurement process activities. The strategic sourcing plan aims to cover all the activities from the requirements and specifications of services as well as the negotiation of the service goals. The sourcing basically improves the procurement activities of an organization.

Hope this helps :)

If you liked the answer then please give an Up-vote, this will be quite encouraging for me, thank you!