What are service credits?

• A.A type of payment where goods are delivered before payment is made
• B.A mechanism for performance management where the buyer has the right to deduct money from payments owed for under performance
• C.When a buyer makes a purchase on credit
• D.A clause in a contract that allows for additional bonus payments for meeting KPIs

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Janet runs a factory which produces 1 million bread rolls every day. It requires a large amount of flour, and for this to be delivered regularly- in time with manufacturing operations. There are very few suppliers in the market place that can deliver the quality of flour Janet requires in the quantities required. Janet has just established a contract with Friendly Flour Limited - what type of supplier is Friendly Flour Limited to Janet?

• A.bottleneck
• B.strategic
• C.routine
• D.leverage

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Achieving value for money can often be described as the three Es? What are these?

• A.Ethics, Environment, Economy
• B.Economy, Efficiency, Environment
• C.Efficiency, Economy, Ethics
• D.Effectiveness, Efficiency, Economy

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A partnership between a software development company and a software supplier has recently been created. In order for the partnership to be successful, what is a critical action to take in the early stages of their relationship?

• A.Define the standards both parties are expected to meet
• B.Look at costing models
• C.Promote the new partnership
• D.Complete audits on the performance of both parties

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When developing a supplier partnership, a buyer can take either a strategic or reactive approach. What would be a reason for a reactive approach?

• A.You discover that the supplier has a high profit margin
• B.The buyer wishes to create a new product and requires input from a supplier
• C.Sudden changes in the marketplace
• D.It will allow for consolidation in the supply chain

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