Certification in Supplier Diversity Practice Exam

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What aspect should be included in a sourcing plan?

Random vendor selection
Only historical spending data
Information on strategic alliances and suppliers
Employee feedback on suppliers

The correct answer is: Information on strategic alliances and suppliers

Including information on strategic alliances and suppliers in a sourcing plan is crucial because it helps establish a framework for effective procurement and the development of supplier relationships. A well-structured sourcing plan should consider not only existing suppliers but also potential strategic partnerships that can offer competitive advantages, innovation, and value. By evaluating and documenting these alliances, a business can identify opportunities for collaboration that enhance supply chain efficiency and resilience. Moreover, this aspect of the sourcing plan can lead to better negotiation positions, as understanding the capabilities and roles of strategic suppliers informs decision-making and aligns sourcing strategies with overall business objectives. Effective management of these relationships contributes to long-term success and can drive continuous improvement within the supply chain. The other options may not capture the comprehensive nature of a sourcing plan. Random vendor selection lacks a strategic approach, only focusing on historical spending data does not provide the full context needed for future sourcing decisions, and while employee feedback can be valuable, it should not be the primary focus over strategic alignment and supplier capabilities.