Strategic Sourcing

Level 3

Test library / All tests / Strategic Sourcing

This test covers a wide range of topics in strategic sourcing, focusing on key concepts, methodologies, and practices within the field. It addresses the primary objective of strategic sourcing (cost reduction) and explores various sourcing strategies like multiple sourcing, single sourcing, and dual sourcing. The test also delves into the strategic sourcing process and emphasises the importance of considering various factors like supplier financial stability, technological capabilities, and quality management during supplier evaluation.

Total Cost of Ownership (TCO) analysis, Request for Proposals (RFPs), negotiation strategies like integrative negotiation, and supply chain risk management strategies are also covered. Service Level Agreements (SLAs), sourcing team roles, e-procurement benefits, sustainability considerations, supplier performance metrics, and the purpose of supplier scorecards are also mentioned to test a comprehensive understanding of strategic sourcing.

Additionally, the test includes the objectives of reverse auctions, category management, supplier segmentation, spend analysis, and the benefits of e-procurement. It also examines the importance of supplier audits, selection criteria, sourcing strategies, supplier development programs, contract negotiation, risk mitigation, market analysis, offshoring, supplier risk assessment, data analytics, dual sourcing, make-or-buy analysis, and the development of supplier relationship management strategies. The test is designed to assess knowledge in strategic sourcing, focusing on cost savings, value creation, supplier performance management, and building strategic partnerships.

 

 

Designed to access

  • Strategic Thinking and Planning

  • Analytical and Decision-Making Skills

  • Negotiation and Relationship Management

  • Risk Management and Problem Solving

  • Supplier Evaluation and Performance Management

Use this test to hire for

  • Strategic Sourcing Manager
  • Procurement Manager/Officer
  • Supply Chain Manager
  • Category Manager
  • Supplier Relationship Manager
  • Purchasing Manager
  • Supply Chain Analyst
  • Contract Manager
  • Risk Management Specialist in Supply Chain
  • Global Sourcing Manager

Question

What is the primary objective of strategic sourcing?

Select ONE answer

Question

Which of the following is NOT a step in the strategic sourcing process?

Select ONE answer

Question

Which of the following cost components is NOT typically considered in Total Cost of Ownership (TCO) analysis?

Select ONE answer

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