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Pass Guaranteed Quiz 2025 ISM CORe: Supply Management Core Exam Authoritative Reliable Test Review

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ISM Supply Management Core Exam Sample Questions (Q314-Q319):

NEW QUESTION # 314
Which of the following refers to a stakeholder want as opposed to a stakeholder need?

A. Requiring thata supplierprovidedelivery schedules that meet the requirements specified inthe contract
B. Requiring thata supplierprovidedetailed specifications for review for the supplied item
C. Requiring thata supplierprovideaccommodations for the company's representatives duringvisits
D. Requiring thata supplierprovidethe purchased component at or below the target cost

Answer: C

NEW QUESTION # 315
A state university is looking to purchase equipment to scan books and manuscripts into a digital format.
Several variations of this equipment exist in the marketplace, and the university has not decided which format is best for their needs. There is also a possibility that the cost for additional storage requirements will be shared with the state. Given this situation, which of the following is the FIRST course of action the university should take?

A. Negotiate an agreement with the state government to share storage costs
B. Issue a Request for Proposal (RFP)
C. Issue a Request for Information (RFI)
D. Conduct a joint suppliers' conference with the state government

Answer: C

Explanation:
* Identification of Need: The university needs to purchase equipment to digitize books and manuscripts.
* Market Variations: Several variations of the required equipment exist in the marketplace, indicating a need to understand the different options available.
* Undecided Format: The university has not decided which format is best, necessitating information gathering on different formats and their benefits.
* Cost Sharing Possibility: There is a possibility that the cost for additional storage will be shared with the state, adding another layer of complexity.
* First Course of Action: In such situations, the most appropriate first step is to gather comprehensive information on the available options. An RFI is a tool designed to collect information from suppliers about their products and services. It helps the university understand what is available in the market, the capabilities of different suppliers, and the possible costs and benefits of various options.
* Next Steps: After the RFI, the university can better determine their specific needs and proceed with
* more targeted procurement processes such as an RFP.
References
* ISM Glossary of Key Supply Management Terms
* CIPS Procurement and Supply Cycle

NEW QUESTION # 316
Why would an entrepreneur want to operate a mobile food truck instead of a restaurant?

A. A mobile food truck has lower fixed costs than a restaurant.
B. In the short-run restaurants make zero economic profit.
C. In the long-run restaurants make zero economic profit.
D. A mobile food truck invites a wider variety of customers than a restaurant.

Answer: A

NEW QUESTION # 317
For the past two years, XYZ Company has issued Requests for Proposals (RFPs) for event registration mobile apps to be used for the firm's annual conference. In both instances, XYZ ended up using an app developed in-house. While the internally-developed app has met XYZ's requirements, the company believes it may be outdated in comparison with those provided by the suppliers that have submitted responses in the past. XYZ issues a new RFP to assess the suppliers' current capabilities. Responses are requested within four weeks from the date of the RFP.
Which of the following is the GREATEST risk that XYZ may encounter with this strategy?

A. XYZ's timetable might place an unreasonable burden on the ability of suppliers to prepare and submit responses.
B. Suppliers may decline to respond because XYZ has issued RFPs twice in the past without selecting anyone.
C. XYZ may be forced to accept a proposal that does not meet its business requirements.
D. Procuring the app from a third party when it was not purchased from a supplier during the previous years could result in the firm exceeding its budget.

Answer: B

Explanation:
The primary risk XYZ Company faces when issuing a new RFP, after previously not selecting any supplier, is the potential reluctance of suppliers to participate again:
* Suppliers may decline to respond because XYZ has issued RFPs twice in the past without selecting anyone: This is a significant risk as suppliers may perceive it as a waste of resources and time, reducing the pool of potential responses.
* Procuring the app from a third party when it was not purchased from a supplier during the previous years could result in the firm exceeding its budget: Budget management is a concern but not the greatest risk.
* XYZ may be forced to accept a proposal that does not meet its business requirements: This can be mitigated by clearly defining requirements.
* XYZ's timetable might place an unreasonable burden on the ability of suppliers to prepare and submit responses: While timeline concerns are valid, suppliers declining to respond due to past experiences is a more immediate risk.
Therefore, the greatest risk is that suppliers may decline to respond because XYZ has issued RFPs twice in the past without selecting anyone.
References:
* Procurement strategy literature on supplier engagement.
* Best practices in managing RFP processes.

NEW QUESTION # 318
DEF, Inc. has a choice of several transportation providers in the immediate area. The firm decides to conduct a spend analysis to identify opportunities for cost savings through service standardization. In this situation, which of the following will be MOST Important for the company to analyze?

A. Pricing at international locations
B. Labor rates for frequently utilized locations
C. Local laws and regulations regarding transportation
D. Pricing for alternative travel modes such as rail and air

Answer: D

NEW QUESTION # 319
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