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A company finds that one of its warehouses is out of capacity to store products. Expanding the physical size of the warehouse is not an option. The most appropriate solution would be to increase the:
The purpose of price differentiation is to:
In a make-or-buy decision, if the product is modular and the company is dependent on knowledge and capacity, outsourcing most likely will be:
A company's annual cost of goods sold is $350 million, and inventory carrying cost is 18%. The company averages four inventory turns. The cost savings resulting from increasing inventory turns from four to six would be:
Supply chains delivering products or services are most able to respond quickly to changing market requirements when:
Throughout most of the supply chain, safety stock will be de-emphasized as a result of improved:
The practice of supply chain members acting in close collaboration while retaining independent ownership is known as:
A company considers moving a portion of its production to a distant country to support a major customer. Which of the following actions is most effective in mitigating the risk of financial loss in the event of a global economic downturn?
Which of the following elements of total quality management (TQM) results in a lower overall cost of the product?
Which of the following types of risk typically would be most difficult to plan for and mitigate?

Question 455 - CSCP discussion

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An insurance broker is interested in increasing price competition among its carriers. Which of the following strategies would be an efficient way to enable the price reductions?

A.
Consolidate the market.
Answers
A.
Consolidate the market.
B.
Utilize business-to-business (B2B) e-marketplaces.
Answers
B.
Utilize business-to-business (B2B) e-marketplaces.
C.
Automate manual processes.
Answers
C.
Automate manual processes.
D.
Establish long-term partnerships.
Answers
D.
Establish long-term partnerships.
Suggested answer: B

Explanation:

Utilizing B2B e-marketplaces can increase price competition among carriers by providing a platform for multiple carriers to bid for business. This transparency fosters a competitive environment, as carriers are aware of their competitors' offers and are incentivized to provide more attractive rates and terms to win contracts. E-marketplaces also streamline the procurement process, reduce administrative costs, and enhance market efficiency.

Reference:

'The Role of B2B Marketplaces in Supply Chain Optimization,' Gartner.

'Increasing Price Competition Through B2B Platforms,' Journal of Business Logistics.

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asked 16/09/2024
amy ashton
39 questions
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