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:

Net Capital Outflow

The difference between a nation's total investment in foreign countries and foreign investments within the nation, over a specific period of time.

Open-Economy Macroeconomic Model

An economic model that analyses interactions between domestic and international factors in shaping economic indicators.

Exchange Rate

The value of one country's currency in terms of another country's currency.

Market For Foreign-Currency Exchange

A financial market where currencies are traded, facilitating international trade and investment.