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HBX CORe (Credential of Readiness) is an online program offered by Harvard Business School that is designed to teach participants the fundamentals of business. The program is comprised of three courses: Business Analytics, Economics for Managers, and Financial Accounting. By completing the program, participants gain a strong foundation in business concepts and skills that are essential for success in a variety of industries.

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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The HBX CORe Final Examination is a comprehensive test that covers all of the material presented in the course. The test is designed to evaluate a student's knowledge of the fundamental concepts of business, including accounting, economics, and business analytics. CORe Exam is made up of multiple-choice questions, and students have a limited amount of time to complete the test.

ISM Supply Management Core Exam Sample Questions (Q315-Q320):

NEW QUESTION # 315
A manager at an internet retailer wants to determine whether a recent change in the company's supply chain strategy has affected the amount of time it takes for an order to reach a customer. The historical average amount of time from placing the order to final delivery is 5.2 days. A random sample of 60 orders taken after the implementation of the new strategy indicates an average delivery time of 4.5 days with a standard deviation of 1.4 days. The manager wishes to perform a hypothesis test at a 95% confidence level. Which option represents the correct calculation for the range of likely sample means? Please note that the function for confidence intervals in Excel is =CONFIDENCE.NORM(alpha, standard_dev, size).

A. =5.2 +- CONFIDENCE.NORM(0.025,1.4,60)
B. =4.5 +- CONFIDENCE.NORM(0.025,1.4,60)
C. =5.2 +- CONFIDENCE.NORM(0.05,1.4,60)
D. =4.5 +- CONFIDENCE.NORM(0.05,1.4,60)

Answer: C

NEW QUESTION # 316
Which of the following is the simplest form of supplier evaluation?

A. Scorecard
B. Categorical
C. Benchmarking
D. Weighted point

Answer: B

Explanation:
The categorical method is the simplest form of supplier evaluation. It involves rating suppliers based on various categories such as quality, delivery, and service. Each category is rated using a simple system, such as satisfactory/unsatisfactory or good/average/poor. This method is straightforward and easy to implement compared to benchmarking (Option A), weighted point (Option C), and scorecard (Option D) methods, which are more detailed and complex.
References:
* Supplier Evaluation and Performance Excellence: A Guide to Meaningful Metrics and Successful Results by Sherry R. Gordon
* Purchasing and Supply Chain Management by Robert M. Monczka, Robert B. Handfield, Larry C.
Giunipero, and James L. Patterson

NEW QUESTION # 317
Which of the following should be supply management's PRIMARY service or material selection criterion?

A. Sourcing limitations
B. Price
C. Total cost of ownership
D. Quality

Answer: C

Explanation:
The primary criterion for service or material selection in supply management should be the total cost of ownership (TCO). TCO considers not only the purchase price but also all other costs associated with the acquisition, use, maintenance, and disposal of the service or material. This holistic view ensures that supply management makes decisions that are cost-effective in the long run, balancing initial costs with operational and end-of-life expenses. Quality (Option B) and price (Option C) are important, but they do not capture the full spectrum of costs. Sourcing limitations (Option A) are constraints rather than primary criteria.
References:
* Supply Chain Management: Strategy, Planning, and Operation by Sunil Chopra and Peter Meindl
* Total Cost of Ownership Analysis in Procurement

NEW QUESTION # 318
A manufacturing firm which prides itself on excellent customer service, quality, and prompt delivery decides to outsource several of its high volume, cost-driven products. The firm's supply manager is tasked with ensuring that service level expectations are maintained during the transition. Which of the following is the BEST step for the supply manager to take to ensure a smooth transition?

A. Redesign the department for better end-to-end supply management
B. Emphasize the focus on relationship management to support customers
C. Direct staff to concentrate on execution and teamwork
D. Promote supply management staff as examples of change leaders

Answer: B

Explanation:
* Customer Focus: Maintaining excellent customer service requires a strong emphasis on relationship management, even during transitions.
* Support Continuity: Ensuring that the transition does not disrupt service levels or product quality.
* Stakeholder Engagement: Engaging with both internal and external stakeholders to communicate the importance of maintaining high standards.
* Ongoing Monitoring: Continuously monitoring the performance of outsourced suppliers to ensure they meet the company's service level expectations.
References
* Outsourcing Transition Best Practices
* Relationship Management in Supply Chain
* Customer Service and Supply Chain Management Literature

NEW QUESTION # 319
A company employs a special testing device within its laboratories. The firm needs two additional units of this device with the same capabilities, but wants to encourage competition rather than be brand-specific. The company's supply manager issues a solicitation with the brand and model number of the devices in use, appended with the phrase "or functional equivalent". Suppliers of other brands submit inquiries as to what the firm's exact needs are. Which of the following is the BEST response the supply manager can make to these inquiries?

A. Send detailed specifications from the referenced model's manufacturer
B. Detail how and where the devices will be used, Including any constraints
C. Describe minimum capabilities and designate required versus optional features
D. Provide a list of the brands and models that can meet requirements

Answer: C

Explanation:
* Understand Needs: Clearly understand the functional requirements of the testing device needed.
* Communicate Requirements: By describing the minimum capabilities, suppliers can understand the essential functions the device must perform.
* Differentiate Features: Designating required versus optional features helps suppliers know what is critical and what is desirable, allowing for more competitive bids.
* Encourage Competition: This approach avoids brand specificity and encourages suppliers to propose equivalent or superior solutions that meet the company's needs.
References
* Procurement Guidelines on Functional Specifications
* Competitive Bidding Best Practices
* Supply Management Standards

NEW QUESTION # 320
......

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