Question 5 (1 point) What is the best sourcing strategy for a product which has

Question

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. C

Explanation / Answer

5. Products which have high level of disruption in the supply chain can be strategically sourced in three major ways:-

Increasing inventory level or adding capacity at different locations or having multiple suppliers. In this case since the product has low impact on total value of supplier chain then the best option is

Purchase the product in bulk at the cheapest/easiest way possible. (This would mitigate the risk of high level of disruption since theinventory is high and purchase it in the cheapest method since it has low impact on value of supplier chain).

6. Functional products are products that people buy in wide range of retail outlets, and those products have more stable and predictable demand, as well as long life cycles.

A product innovation is the introduction of a good or service that is new or has significantly improved characteristics or intended uses; a process innovation refers to the implementation of a new or significantly improved production or delivery method.

Going by the definition

(B) is the best option Graphing Calculators, Spaghetti Noodles and Gasoline are consumable daily usage functional products.

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