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Question 494 - CSCP discussion

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The primary purpose of implementing supplier relationship management (SRM) is to:

A.
minimize legal contracts.
Answers
A.
minimize legal contracts.
B.
Identity strategic sources of supply.
Answers
B.
Identity strategic sources of supply.
C.
enable sole or single sourcing.
Answers
C.
enable sole or single sourcing.
D.
streamline the procurement process.
Answers
D.
streamline the procurement process.
Suggested answer: D

Explanation:

Supplier Relationship Management (SRM) is implemented to enhance the efficiency and effectiveness of procurement. Its primary purposes include:

Streamlined Procurement: SRM systems automate and streamline procurement processes, reducing manual tasks and improving accuracy.

Enhanced Supplier Performance: By managing relationships more effectively, organizations can improve supplier performance, quality, and delivery times.

Cost Reduction: Streamlined processes and improved supplier performance can lead to significant cost savings.

Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2015). Purchasing and Supply Chain Management. Cengage Learning.

Chopra, S., & Meindl, P. (2016). Supply Chain Management: Strategy, Planning, and Operation. Pearson.

asked 16/09/2024
Tanpisit Songvechkasam
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