Please answer the following questions, Thank you! Question 5 (1 point) What is t
ID: 423066 • Letter: P
Question
Please answer the following questions, Thank you!
Question 5 (1 point) What is the best sourcing strategy for a product which has a high risk of disruption, but a low impact on the total value of my supplier chain? Question 5 options: Have multiple suppliers for the same product Purchase products in bulk for the cheapest discount Purchase the products in the cheapest/easiest way possible Built a strategic relationship with the supplier Save Question 6 (1 point) Which of the following would be a list of products which could be considered Functional Products as opposed to Innovative Products? Question 6 options: Tablet Computers, Fashion, New Product Introductions Graphing Calculators, Spaghetti Noodles, Gasoline Blockchain, Ominchannels, and Competitive Advantages Inventory, Forecasting. CExplanation / Answer
Answer to question 5 :
As described , the product has level of supply risk as HIGH ( i.e. high risk of disruption ) and value of spend to firm as LOW ( as mentioned) , the advisable strategy has been mentioned as “BOTTLENECK : Use multiple resources “ as per the presented matrix of the sourcing strategy . The answer nearest to this statement from the given options is “ Have multiple suppliers for the same product”
ANSWER : HAVE MULTIPLE SUPPLIERS FOR THE SAME PRODUCT
Answer to question 6 :
Following are not Innovative products :
A_ Inventory , forecasting : These are not products. Forecasting is a technique.
B. Blockchain, Omnichannel and competitive advantage : Competitive advantage is not a product . It signifies an advantage a product or company enjoys in the market vis a vis competitors
C. Tablet computers , Fashion , New product introductions : Tablet computers can be considered as an innovation product since it is arises out of research and advanced modification of standard desktop/ laptop computers. Fashion also involves innovation in terms of innovation in design and introduction of new design from season to season
Therefore correct answer would be “ Graphing calculator , Spaghetti noodles, Gasoline”. For example Gasoline is a basic functional product which is pretty standardized and are needed for running of ll types of vehicles.
ANSWER : GRAPHING CALCULATORS, SPAGHETTI NOODLE , GASOLINE
ANSWER : HAVE MULTIPLE SUPPLIERS FOR THE SAME PRODUCT