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Questions and Answers
What is the purpose of the balanced scorecard in supplier evaluation?
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?
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?
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?
What is the main purpose of conducting reviews of existing relationships and performance with suppliers?
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What role do Key Performance Indicators (KPIs) play in the balanced scorecard framework?
What role do Key Performance Indicators (KPIs) play in the balanced scorecard framework?
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What is the significance of leveraging data through a structured framework like a balanced scorecard in supplier evaluation?
What is the significance of leveraging data through a structured framework like a balanced scorecard in supplier evaluation?
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