Intellectual Property Rights (IPR) include items such as copywrite and trademarks. A buyer is considering entering into a partnership with their supplier to create a new product which will be released in two years' time. Should IPR be included into a contract between partners?

• A.Yes- IPR should always remain with the buyer- this will protect those rights
• B.Yes- IPR is a valid concern for both parties but will survive the termination of the agreement
• C.No- a separate legal agreement should be created to cover IPR
• D.No- a contract is not necessary if it is a partnership.

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Kirsty is designing a specification for a new contract and wants to include some qualitive KPIs for the new supplier, as well as quantitative. Which of the following could she include? Select TWO.

• A.Deliveries in full and on time
• B.Information sharing
• C.Trust
• D.Cost savings
• E.Early supplier involvement

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Andrew runs a factory that makes cakes. Vanilla Extract is a vital ingredient in Andrew's cakes and this is a monopolistic market. Andrew has noticed recently that the quality of the supplier's product has reduced, and this has led to several complaints from customers. Andrew is considering entering into a Partnership with this supplier as he believes this will help increase the supplier's performance. Is this the correct thing to do?

• A.Yes- partnership sourcing can improve performance which will ultimately satisfy the end customer
• B.Yes- partnership sourcing will improve sales figures
• C.No- Andrew should use an alternative supplier
• D.No- Andrew should outsource the vanilla extract.

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Which of the following relationship types require the most investment from the buyer?

• A.partnership
• B.strategic alliance
• C.single source
• D.adversarial

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A supermarket is struggling with sales and has done an analysis on its competitors. It has discovered that it has two major competitors; one provides groceries at a much cheaper price and another that provides only organic products. The supermarket has decided that it wants to continue providing groceries to a wide target audience but that it will compete by offering superior customer service. What is the supermarket's source of competitive advantage?

• A.cost leadership
• B.differentiation
• C.cost focus
• D.differentiation focus

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