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SCMN 2150 EXAM 2 LATEST VERSION -2025/2026- 100+
QUESTIONS AND VERIFIED ANSWERS ALL THE BEST
what are the steps in the procurement process and why is it important to follow
them?
1. identify materials and needs
2. evaluate supplier options
3. select supplier
4. release order and receive products
5. measure and manage performance
what are the goals of supply management and why is it important?
goals: right price, source, specification, quality, delivery time, and customer
it is important because it generates sustainable advantage from competition
what is a procurement
purchase of merchandise or services at optimum possible total cost
what is strategic sourcing?
approach to leverage target spending across locations with select suppliers to
achieve, quality, timeliness, and lower cost
explain the differences between traditional purchasing and strategic sourcing
traditional sourcing is about sourcing goods at the lowest possible cost per unit
whereas strategic sourcing is creating the best possible value and looking at the
total cost of ownership
what is a quadrant analysis and why is it important?
, 2
in performing a quadrant analysis, you evaluate key attributes of
products/services as well as suppliers to manage the business
why is it important to evaluate supplier performance?
they help you to ensure your suppliers are meeting your standards
fill rate
quantity received/quantity ordered
defect rate
quantity defective/quantity received
on time %
on time/total orders
perfect order %
correct/total
what is a supplier scorecard and how they created and utilitzed?
they monitor performance across a time period and compare based on scores;
distribute weight factors among KPIs, calculate and complete
KPIs
key performance indicators such as fill rate, defect rate
what are the 7 steps of strategic sourcing?
1. analyze product categories
2. develop sourcing strategy
3. analyze supplier market
4. define request for proposal criteria
5. negotiate and select suppliers
6. integrate suppliers into processes
SCMN 2150 EXAM 2 LATEST VERSION -2025/2026- 100+
QUESTIONS AND VERIFIED ANSWERS ALL THE BEST
what are the steps in the procurement process and why is it important to follow
them?
1. identify materials and needs
2. evaluate supplier options
3. select supplier
4. release order and receive products
5. measure and manage performance
what are the goals of supply management and why is it important?
goals: right price, source, specification, quality, delivery time, and customer
it is important because it generates sustainable advantage from competition
what is a procurement
purchase of merchandise or services at optimum possible total cost
what is strategic sourcing?
approach to leverage target spending across locations with select suppliers to
achieve, quality, timeliness, and lower cost
explain the differences between traditional purchasing and strategic sourcing
traditional sourcing is about sourcing goods at the lowest possible cost per unit
whereas strategic sourcing is creating the best possible value and looking at the
total cost of ownership
what is a quadrant analysis and why is it important?
, 2
in performing a quadrant analysis, you evaluate key attributes of
products/services as well as suppliers to manage the business
why is it important to evaluate supplier performance?
they help you to ensure your suppliers are meeting your standards
fill rate
quantity received/quantity ordered
defect rate
quantity defective/quantity received
on time %
on time/total orders
perfect order %
correct/total
what is a supplier scorecard and how they created and utilitzed?
they monitor performance across a time period and compare based on scores;
distribute weight factors among KPIs, calculate and complete
KPIs
key performance indicators such as fill rate, defect rate
what are the 7 steps of strategic sourcing?
1. analyze product categories
2. develop sourcing strategy
3. analyze supplier market
4. define request for proposal criteria
5. negotiate and select suppliers
6. integrate suppliers into processes
