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Supplier Performance Evaluation

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Questions and Answers

What is the purpose of the balanced scorecard in supplier evaluation?

To monitor employee performance

To evaluate supplier performance across multiple dimensions (correct)

To enforce contract compliance

To assess the financial stability of suppliers

What is the primary source of data for evaluating Key Performance Indicators (KPIs) in supplier performance?

Supplier advertising

Competitor analysis

Customer feedback

Internal systems like e-procurement platforms (correct)

In what phase of contract negotiations are balanced scorecards developed?

Post-award phase

Pre-award phase (correct)

Renegotiation phase

Termination phase

What is the main purpose of conducting reviews of existing relationships and performance with suppliers?

To evaluate suppliers against agreed-upon standards and objectives Signup and view all the answers

What role do Key Performance Indicators (KPIs) play in the balanced scorecard framework?

They provide quantifiable metrics against which supplier performance is measured Signup and view all the answers

What is the significance of leveraging data through a structured framework like a balanced scorecard in supplier evaluation?

To ensure suppliers meet the organisation's expectations and requirements Signup and view all the answers

Supplier Performance Evaluation

Choose a study mode

Podcast

Questions and Answers

What is the purpose of the balanced scorecard in supplier evaluation?

What is the primary source of data for evaluating Key Performance Indicators (KPIs) in supplier performance?

In what phase of contract negotiations are balanced scorecards developed?

What is the main purpose of conducting reviews of existing relationships and performance with suppliers?

What role do Key Performance Indicators (KPIs) play in the balanced scorecard framework?

What is the significance of leveraging data through a structured framework like a balanced scorecard in supplier evaluation?

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