L4M4 Ethical and Responsible Sourcing Recap Week 2

Single Sourcing is

• an Org buys its supplies from multiple suppliers to ensure diversity and competition.

• an Org produces all its supplies in-house without relying on any external suppliers.

• the practice of sourcing supplies from a single supplier for all products and services across the entire Org.

• an Org buys its supplies for a specific product or service from one supplier.

Sole Sourcing is

• when an Org sources goods or services from multiple suppliers for different products and services simultaneously.

• a non-competitive situation where there is only one supplier of goods or services who can fulfil the requirement of the buyer at that time.

• an Org selects multiple suppliers to fulfil its requirements to ensure competition and variety.

• the practice of sourcing goods or services from any available supplier without any specific criteria or restrictions.

The three main approaches to tendering are...

• Open

• Competitive

• Restricted

• Negotiated

Buyer wins, supplier loses is which negotiation style...

• Compete

• Collaborate

• Avoid

• Accomodate

Supplier wins, buyer loses is which negotiation style...

• Compete

• Collaborate

• Avoid

• Accomodate

Supplier loses, buyer loses is which negotiation style...

• Compete

• Collaborate

• Avoid

• Accomodate

Buyer wins, supplier wins is which negotiation style...

• Compete

• Collaborate

• Avoid

• Accomodate

In terms of Negotiation stages which is the odd one out...

• Preparation

• Information Exchange

• Bargaining

• Agreement

• Closing

Which one of the following activities is least likely to be outsourced by a company that produces fashion goods

• Website design and maintenance

• Building security

• Call centre

• Product design

Which one of the following activities is least likely to be outsourced by a company

• Activities that create substantial added value for the company

• Resource intensive activities

• Activities where skilled labour is in short supply and difficult to recruit and retrain

• Non core activities requiring specialist skills