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ISM Supply Management Core Exam Sample Questions (Q229-Q234):

NEW QUESTION # 229
XYZ, Inc. currently has a transactional relationship with suppliers, but would like to work strategically with them. The firm wants to initially focus attention on the most critical suppliers. To do this, they should FIRST reach out to

A. suppliers with the highest unit volume
B. suppliers with whom the firm rarely or never has face-to-face meetings
C. suppliers with the highest dollar sales volume
D. suppliers rated as vital according to key department metrics

Answer: D

Explanation:
To transition from transactional to strategic relationships with suppliers, XYZ, Inc. should first focus on suppliers rated as vital according to key department metrics. These metrics may include criteria such as supplier performance, strategic importance, criticality of the supplied materials or services, and overall impact on the firm's operations. By concentrating on these vital suppliers, the company can develop stronger, more collaborative relationships that drive mutual benefits and strategic value. References:
* "Purchasing and Supply Chain Management" by Robert M. Monczka, Robert B. Handfield, Larry C.
Giunipero, and James L. Patterson
* Institute for Supply Management (ISM) guidelines on supplier relationship management and strategic sourcing

NEW QUESTION # 230
The ability to explain how and why decisions are made in support of business plans is important because it allows a supply manager to

A. prevent supply chain disruptions
B. reduce the amount of needed input from key stakeholders
C. influence internal stakeholders
D. align goals to supply management's mission

Answer: C

NEW QUESTION # 231
Which of the following options is an example of an expense?

A. Payment of $6,000 for vehicle insurance covering the next year
B. Purchase of $10,000 of fabric to be used by a clothing manufacturer
C. Consumption of $500 of electricity for the head office building
D. Purchase of a new vehicle for $30,000 by a delivery company

Answer: C

NEW QUESTION # 232
A journalist believes that it is possible to predict the number of Winter Olympic medals a country will win by analyzing the country's gross domestic product (GDP) per capita in the year prior to the Olympics. The journalist collects data on the 26 countries that won medals at the 2010 Winter Olympics and performs a regression analysis. The results for this regression are provided below.

Based on the model's coefficients, by how many thousands of dollars does GDP per capita in a country need to increase on average in order for the country to win one more Winter Olympic medal?

A. 4.55
B. 0.22
C. 3.25
D. 0.31

Answer: A

NEW QUESTION # 233
A restaurant that sells hamburgers is considering lowering prices to gain market share. The restaurant pays $3,000 a month for the building it occupies, and ingredients and labor cost $2.50 per hamburger. If the restaurant expects to sell 2,000 hamburgers a month, what is the minimum price it could charge?

A. $2.50
B. $3.00
C. $3.50
D. $4.00

Answer: D

NEW QUESTION # 234
......

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Dumps CORe Torrent, Certification CORe Questions

Dumps CORe Torrent - 100% Pass 2025 First-grade ISM Certification CORe Questions

ISM Supply Management Core Exam Sample Questions (Q229-Q234):

Free PDF Quiz Valid ISM - CORe - Dumps Supply Management Core Exam Torrent

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