Three Major Challenges Exist When Setting Supply Objectives and Strategies

question 17

Multiple Choice

Three major challenges exist when setting supply objectives and strategies:

• A) adopting efficient electronic transaction systems, designing effective strategic supply processes, and increasing internal compliance with both.
• B) effectively interpreting corporate and supply objectives, selecting appropriate actions to achieve objectives, and integrating supply information into organizational strategies.
• C) hiring professionals educated specifically in supply management, providing them with technical expertise, and developing leadership skills for the long-term.
• D) emphasizing strategic cost management, involving key suppliers early in the process, and measuring the reduction in total cost of ownership.
• E) identifying internal stakeholders, building consensus among these stakeholders, and selling top management on the results.

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Definitions:

Earnings

The amount of profit that a company produces during a specific period, indicating the financial performance and profitability.

Executive Change

The process or event of a change in the leadership or management team within an organization, which can have significant impacts on the strategic direction and performance of the company.

Bad Debt Expense

An expense account reflecting the estimated amount of receivables that are not expected to be collected due to customer defaults.

Loan Receivables

Claims or financial assets arising from money lent to borrowers by an entity.