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In sourcing packaging for industrial purposes, which of the following will be MOST useful for monitoring price behavior?
The Producer Price Index for Intermediate Materials is most relevant for monitoring price behavior in industrial packaging, reflecting changes in production costs that affect supply chain economics. Reference: Price index reports are essential tools for tracking market trends and making informed procurement decisions in industrial sectors.
A supply manager negotiates a volume discount with a key supplier. The supplier will provide a discount on screws, bolts, and nuts, based on the quantity indicated on the purchase order (PO). Which of the following would be the BEST way for the buying firm to maximize the benefits of this discount?
Setting a fixed order quantity that meets the volume discount threshold ensures that each purchase order takes full advantage of cost savings, optimizing procurement efficiency. Reference: Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management.
A manufacturer is working to standardize high-volume, low-cost hardware components used in its assembly process. The manufacturer wants to transfer some of the risks associated with inventory carrying costs, warehousing costs, and re-stocking costs to the supplier. Which of the following will be MOST useful in accomplishing this goal?
FGH, Inc., a specialty construction company located in Italy, orders bulky customized sound equipment from a sole-source supplier in Asi
a. The equipment is to be installed in a new auditorium that FGH is constructing. Failure to complete the project in time for its scheduled opening will subject FGH to penalties. FGH receives notice from the supplier that the equipment is packaged and ready to ship as planned via ocean freight but that an impending storm may cause delays. FGH needs to stay within budget. In this situation, which of following is the BEST course of action for FGH to take?
Marine transportation is the best option for promoting international trade and transporting large quantities of products at a low cost. It allows for economies of scale, making it the most cost-effective mode for bulk shipments. Reference: Global trade studies frequently cite maritime shipping as a key enabler of international commerce due to its capacity and cost benefits.
A supply manager for a U.S. firm is tasked with negotiating domestic shipping terms. The terms must ensure that the supplier has liability for any damaged products and is responsible for filing any claims with the shipper. The terms must also allow the buying firm to pay the shipper directly for shipping costs. Which of the following will BEST accomplish this objective?
FOB Origin, Freight Collect ensures that the supplier holds liability for damaged products and is responsible for claims with the shipper, while the buying firm pays the shipping costs directly to the carrier. This arrangement clearly delineates responsibilities and liabilities as required.
