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A supply manager is seeking to align the procurement function with the organization's business strategy and growth potential. Which of the following is the BEST initial course of action to take in this instance7
To align procurement with the organization's strategy, the supply manager should first review existing procurement practices to determine their strategic or tactical nature. This assessment provides insight into how procurement supports overall business goals and identifies areas for alignment and improvement, ensuring procurement adds maximum value.
A company logistics manager is informed that, because of an emergency, part of the firm's ocean-going cargo had to be thrown overboard. The losses are to be split 50/50 between the shipper and the freight company. Which of the following pertains MOST closely to this issue?
Maritime law governs incidents at sea, including jettisoning cargo to save a vessel during emergencies. This scenario reflects principles of general average, where losses are shared among parties. Reference: Tetley, W. (2002). Marine Cargo Claims.
A manufacturer purchased a piece of production equipment over 20 years ago. The equipment is still in use, though for the last few quarters, it has been getting more difficult to keep it operational, as many of the required components are turning obsolete. According to the service agreement, the supplier must ensure the availability of the component parts for 3 more years. In this situation, the buying firm should expect that the supplier will
The supplier should proactively identify components expected to become obsolete and purchase the necessary parts before they are needed. This ensures compliance with the service agreement and supports the continued operation of the buyer's equipment, minimizing downtime and operational disruption. Reference: Supplier agreements and obsolescence management.
A company that manufactures rubber balls wishes to discontinue production and move into the golf ball industry. Consider the following steps in the disposition of the current inventory of rubber balls:
I . Dispose of the rubber balls per local regulations
II . Sell the rubber balls on the open market
III . Grind up the rubber balls and donate the material for a playground in the community
IV . Work with engineering to determine if the rubber can be used in the new golf ball line
In order to maximize recovery of its investment, which of the following is the BEST order for the application of these steps (from first to last)?
The best order maximizes recovery by first selling the rubber balls, exploring alternative uses of the material, complying with disposal regulations, and donating the residual material. This approach considers potential revenue, sustainability, and community support. Reference: Bowersox, D. J., Closs, D. J., & Cooper, M. B. (2013). Supply Chain Logistics Management.
For many years, WXY Company's policy has been to buy only domestically manufactured MRO materials and maintain quantities of these materials at each operating location. A recent analysis reveals that this practice is not the most efficient and effective way for this firm to manage its MRO purchases. Given this situation, which of the following is the BEST course of action for WXY's supply management department to take?
Forming a cross-functional team ensures diverse perspectives and expertise in decision-making, leading to well-rounded strategies for managing MRO materials more efficiently. It fosters collaboration and alignment across departments. Reference: Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management.