Three Major Challenges Facing Supply Executives When Setting Supply Strategies

question 4

Multiple Choice

Three major challenges facing supply executives when setting supply strategies and objectives are:

• A)(1)How can we simultaneously provide uninterrupted supply and minimize inventory? (2)How can we improve quality while reducing our supply base? and, (3)How can we increase our involvement in outsourcing decisions?
• B)(1)What is the effective interpretation of corporate objectives and supply objectives? (2)What is the appropriate action plan or strategy to achieve the desired objectives? and, (3)How can supply issues be identified and integrated into organizational objectives and strategies?
• C)(1)Should we have a centralized or decentralized purchasing structure? (2)Should we hire managers trained in supply management or in technical fields? and, (3)Should we outsource any or all of the purchasing function?
• D)(1)Should we pre-certify suppliers? (2)Should we allow internal users to purchase certain categories of purchases? and, (3)Should we increase or decrease the number of suppliers in our supply base?
• E)(1)How many suppliers should we do business with? (2)Which suppliers should we select? and, (3)What type of relationship should we have with these suppliers?

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Definitions:

Job Analysis

is the process of studying and collecting information about a job's tasks, responsibilities, and the needed qualifications for performing the job.

Equitable Pay Structure

A compensation system designed to fairly reward employees based on job roles, experience, performance, and market rates, ensuring fairness and equality.

Wage Costs

The total expenditure incurred by an employer for the payment of wages to employees, including salaries, bonuses, and overtime pay.

Employee Performance

Employee performance refers to how well an employee fulfills their job duties and executes their tasks, often measured against pre-defined benchmarks or objectives.