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Preparing for the HBX CORe Final Examination requires a significant amount of time and effort. Learners should review all the course materials, including lectures, case studies, and readings. They should also take practice exams to assess their readiness for the final exam. The HBX CORe program provides learners with access to online resources and support, such as discussion forums and study groups, to help them prepare for the exam.

The HBX CORe program culminates in a final examination that tests the students' knowledge and understanding of the material covered in the three courses. The HBX CORe Final Examination is a comprehensive test that assesses the students' grasp of the fundamental concepts of business. CORe examination is administered online and is timed. Students are required to answer multiple-choice questions, short-answer questions, and essay questions. CORe examination is designed to be challenging and requires students to apply their knowledge to solve real-world business problems.

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ISM Supply Management Core Exam Sample Questions (Q220-Q225):

NEW QUESTION # 220
On Valentine's Day, the price for a dozen roses typically rises 20 percent. What is the reason behind the increased price?

A. Consumers' willingness to pay increases.
B. There is a network effect in the demand for roses.
C. There is a shortage of roses.
D. The price of vases falls.

Answer: A

NEW QUESTION # 221
A company is considering a project to develop a nascent technology to harness energy from ocean waves but wants to determine its economic viability. This 10-year project will cost the company $10 million in research and development costs and $25 million to build infrastructure. Each megawatt of energy costs $60 to produce, but the government offers a subsidy of $5 permegawatt. The price per megawatt of energy will be $56 for the next five years, and the company expects to produce 1 million megawatts per year. Ignoring the time value of money (i.e. assuming cash flows across different years are directly comparable), if costs, output, and subsidies remain constant, what will the market price of a megawatt of energy need to be in years six through ten to make this project economically viable?

A. $71
B. $61
C. $59
D. $56

Answer: B

NEW QUESTION # 222
MNO, Inc. purchases benchmarking data services from Supplier X, which is the sole source for data relevant to MNO's industry. In recent months, Supplier X's pricing has increased and its technical support has worsened. MNO's supply manager is preparing to negotiate for contract renewal with Supplier X and needs to resolve these concerns. Which of the following is the BEST course action for the supply manager to take before conducting negotiations?

A. Determine whether data can be collected from other sources, to bring the services in-house
B. Revise the Service Level Agreement (SLA) with Supplier X, with penalties for non-performance
C. Develop win-win scenarios to add long-term value in a collaborative relationship
D. Compare Supplier X's rates against similar services to establish reasonable costs

Answer: C

Explanation:
* Identify the Issues: The supply manager should first clearly outline the specific issues with Supplier X, such as the price increases and declining technical support.
* Develop Win-Win Scenarios: Before entering negotiations, it is essential to develop scenarios that can create mutual benefits for both MNO, Inc. and Supplier X. This approach fosters a collaborative relationship rather than an adversarial one.
* Long-term Value: By focusing on long-term value, the supply manager can address the current issues and also set a precedent for future interactions. This may involve proposing solutions like better support mechanisms or more favorable pricing structures in exchange for commitments from MNO.
* Collaborative Relationship: Building a collaborative relationship helps in negotiating terms that are beneficial and sustainable for both parties. This includes working together to find efficiencies or improvements that can lead to cost savings or enhanced service levels.
References:
* CIPS: "Guide to Supplier Relationship Management"
* ISM: "Negotiation Strategies for Long-Term Supplier Relationships"

NEW QUESTION # 223
A firm is developing a solicitation to purchase materials in order to meet the needs of a new product launch.
The firm anticipates that some or all of its existing suppliers will respond to the solicitation. Given this situation, which of the following is the BEST requirements gathering approach for the firm?

A. Pilot and redesign approach
B. Describe, define, document and build approach
C. Repetitive requirements gathering and testing
D. Joint requirements development sessions

Answer: D

Explanation:
* Situation Context: The firm is developing a solicitation for materials for a new product launch, and existing suppliers are expected to respond.
* Collaboration Need: Joint requirements development sessions involve collaborating with key stakeholders, including existing suppliers, to gather comprehensive requirements.
* Detailed Understanding: This approach ensures a detailed and accurate understanding of the needs, leveraging the suppliers' expertise and knowledge of their capabilities.
* Alignment: It aligns the expectations of all parties involved, resulting in more precise and effective solicitation documents.
* Outcome: This method increases the likelihood of receiving proposals that meet the firm's exact requirements and supports a successful new product launch.
References
* ISM Professional Series: Supply Management Core
* CIPS Guide to Procurement Requirements Gathering

NEW QUESTION # 224
A small company identifies a market need for a new device. However, the firm is relatively young and does not have much design expertise. In this situation, which of the following would be the BEST option for bringing the new product concept to market?

A. Develop detailed design specifications for potential suppliers to use
B. Develop detailed performance specifications for potential suppliers to use
C. Issue a detailed Statement of Work (SOW) for the new device
D. Engage in a multiple sourcing arrangement to gather several design solutions

Answer: B

NEW QUESTION # 225
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