Podcast
Questions and Answers
What is the main purpose of negotiation?
What is the main purpose of negotiation?
- To establish trust with suppliers
- To ensure products are sourced ethically
- To create formal and legally binding agreements
- To discuss with someone in order to reach an agreement (correct)
Which department should be involved in the contracting process to avoid legal issues?
Which department should be involved in the contracting process to avoid legal issues?
- Sales and Marketing
- Legal Department (correct)
- Human Resources
- IT Department
What is the role of proper communication during negotiations?
What is the role of proper communication during negotiations?
- To establish trust and professionalism (correct)
- To finalize the negotiation quickly
- To collect internal information
- To ensure products are ethically sourced
What does ethical sourcing focus on?
What does ethical sourcing focus on?
Why is it important to involve internal stakeholders in contracting?
Why is it important to involve internal stakeholders in contracting?
What is a key characteristic of negotiations according to the text?
What is a key characteristic of negotiations according to the text?
What is the main difference between outsourcing and global sourcing?
What is the main difference between outsourcing and global sourcing?
What does Supplier Relationship Management (SRM) involve?
What does Supplier Relationship Management (SRM) involve?
What is a key benefit of a strong relationship between a buyer and a supplier?
What is a key benefit of a strong relationship between a buyer and a supplier?
Why is negotiating excellent agreements important in Supply Chain Management?
Why is negotiating excellent agreements important in Supply Chain Management?
What does Global Sourcing involve?
What does Global Sourcing involve?
In Supply Chain Management, what is the purpose of contracting?
In Supply Chain Management, what is the purpose of contracting?
What is one thing to consider when identifying suppliers?
What is one thing to consider when identifying suppliers?
What is a key factor to evaluate suppliers on during the selection process?
What is a key factor to evaluate suppliers on during the selection process?
What is the term used for the decision of doing something internally or outsourcing it?
What is the term used for the decision of doing something internally or outsourcing it?
In supplier identification, what should managers check to validate a supplier's credibility?
In supplier identification, what should managers check to validate a supplier's credibility?
What should global sourcing focus on when selecting suppliers?
What should global sourcing focus on when selecting suppliers?
What aspect is crucial for supplier relationship management?
What aspect is crucial for supplier relationship management?
