Certification in Supplier Diversity Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the Certification in Supplier Diversity Exam with our engaging quiz. Prepare with flashcards and multiple-choice questions, each offering hints and explanations. Excel in your test!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is a key aspect of the geographic approach to supply management?

Focusing on local suppliers only
Finding a supplier for all units worldwide
Eliminating regional considerations
Designating suppliers based solely on cost

The correct answer is: Finding a supplier for all units worldwide

The key aspect of the geographic approach to supply management is the strategic consideration of the supply chain's geographic diversity and the pursuit of suppliers that can meet the needs of all units worldwide. This approach allows companies to tap into a global network of suppliers, ensuring that they can source materials and products efficiently from various locations. It facilitates access to different markets, helps mitigate risks associated with supply disruptions, and can lead to cost savings through various sourcing strategies. By leveraging suppliers from multiple regions, organizations can enhance their flexibility and responsiveness to changing market conditions, customer demands, and other external factors. This global perspective supports a more robust and resilient supply chain strategy, aligning with broader organizational goals while adapting to local market needs when necessary.