3. Sourcing
Supplier Selection — Quiz
Test your understanding of supplier selection with 5 practice questions.
Practice Questions
Question 1
Which of the following describes a 'hard' criterion in supplier evaluation?
Question 2
When using a scoring model for supplier selection, how are different criteria typically weighted?
Question 3
A company is considering two suppliers for a critical component. Supplier X offers a lower unit price but has a history of late deliveries, leading to potential production delays. Supplier Y has a slightly higher unit price but a perfect on-time delivery record. Which supplier would likely be chosen if the company prioritizes minimizing total cost of ownership (TCO) and values reliability heavily?
Question 4
What is the primary purpose of conducting a thorough supplier evaluation?
Question 5
Which of the following is an example of a 'hidden cost' that would be considered in a Total Cost of Ownership (TCO) analysis?