Supplier Relationship Management Flashcards

Which of the following is a key benefit of maintaining a preferred supplier list in public procurement?

Answer: It streamlines ordering by pre-qualifying vendors who meet quality and compliance standards

Preferred supplier lists pre-qualify vendors against defined criteria, reducing repetitive vetting while still promoting competition within the list.

A public agency wants to reduce supply chain risk for a critical commodity. Which SRM strategy is most appropriate?

Answer: Dual-source or multi-source the commodity across two or more qualified suppliers

Dual or multi-sourcing distributes risk so that no single supplier failure can disrupt the entire supply of a critical item.

What is a vendor scorecard primarily used for in public procurement?

Answer: Objectively tracking and communicating supplier performance over time

Vendor scorecards capture quantitative and qualitative KPIs—such as quality, delivery, and responsiveness—to provide an objective basis for performance discussions.

Under U.S. public procurement best practices, how should a buyer handle a conflict of interest discovered after a contract award?

Answer: Document and disclose it to the appropriate authority immediately, and follow agency conflict-of-interest procedures

Prompt disclosure and compliance with agency conflict-of-interest policies protect the integrity of the procurement and may require remediation or contract rescission.

Which type of supplier relationship generally requires the MOST senior-level engagement from the public agency?

Answer: Strategic partners providing mission-critical goods or services

Strategic partnerships involve high spend, high risk, or unique capabilities that directly affect agency mission, warranting executive-level attention and governance.

What is the purpose of an escalation path in a supplier relationship management plan?

Answer: To define a clear hierarchy for resolving issues when routine channels fail

An escalation path outlines the steps and personnel involved when day-to-day issue resolution is insufficient, ensuring problems are addressed at the right authority level.