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NEW QUESTION 33 Due to the growth of consumer electronics market, semiconductor industry develops exponentially. However, the industry is dominated by a dozens of manufacturer. Chipset need to be built in factories with highly controlled environments. New chip factories cost billions of dollars and can take two years to build. Right now, factories are running at full capacity, which produce almost perfect yields, meaning basic chipset can be made for less than a dollar and more advanced versions for not much more. What are the barriers to new entrants in the semiconductor industry? 1. Poor industry growth 2. High set-up costs 3. Economies of scale 4. Low switching costs

• A. 3 and 4 only
• B. 2 and 4 only
• C. 1 and 4 only
• D. 2 and 3 only

Answer: D Explanation: Barriers to entry is an economics and business term describing factors that can prevent or impede newcomers into a market or industry sector, and so limit competition. The most obvious barriers to entry are high start-up costs and regulatory hurdles which include the need for new companies to obtain licenses or regulatory clearance before operation. Also, industries heavily regulated by the government are usually the most difficult to penetrate. Other forms of barrier to entry that prevent new competitors from easily entering a business sector include special tax benefits to existing firms, patent protections, strong brand identity, customer loyalty, and high customer switching costs. In the scenario, the new factory for chipset manufacturing costs billions of dollars, which indicates high set-up costs. Also, the incumbent manufacturers have reached economies of scale, allowing them to produce the components at optimal price. The above descriptions are compiled from recent reports on current chip shortage (2021). Reference: - Barriers to Entry Definition (investopedia.com) - CIPS study guide page 96-97 LO 2, AC 2.2   NEW QUESTION 34 Which of the following are recognised competitive strategies? 1. Winning new business at all cost 2. Getting more customers' attention 3. Creating stand-out products and brands 4. Focusing on niche market 5. Acquiring competitors

• A. 3 and 4 only
• B. 1 and 2 only
• C. 2 and 5 only
• D. 3 and 5 only

Answer: A Explanation: "A firm's relative position within its industry determines whether a firm's profitability is above or below the industry average. The fundamental basis of above average profitability in the long run is sustainable competitive advantage. There are two basic types of competitive advantage a firm can possess: low cost or differentiation. The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them, lead to three generic strategies for achieving above average performance in an industry: cost leadership, differentiation, and focus." (Reference: Porter, Michael E., "Competitive Advantage". 1985, Ch. 1, pp 11-15. The Free Press. New York.) Creating stand-out products and brands is considered as Differentiation. An organisation that is not clear about which of these three strategies to use is described as 'stuck in the middle' LO 2, AC 2.1   NEW QUESTION 35 Which of the following problems may be identified as closed problems? Select TWO that apply:

• A. A cyber attack takes down whole company's IT system
• B. There are not enough data for procurement analytics
• C. The suppliers don't comply with the company's policy on underage labour.
• D. Logistics costs incur a large portion in wholesale prices
• E. Shortage of key medicines in healthcare industry

Answer: A,E Explanation: Closed problem is something happens that should not have happened. To solve this type of prob-lem, procurement professional should find a way to correct the situation or try to adapt to it. On the other hand, open ended problem is a obstacle to your short-term objective. You will need to overcome this obstacle. Shortage of key medicines is a situation in which procurement must find a substitution or try to save the current stock. In case of cyber attack, procurement should find a way to recover the IT system as soon as possible. Otherwise, 'There are not enough data for procurement analytics' is an open-ended problem be-cause it prevents company to conduct procurement analytics (an objective). 'Logistics costs incur a large portion in wholesale prices': In this situation, logistics costs are hur-dles that prevent companies to reach lower wholesale. 'The suppliers don't comply with the company's policy on underage labour': In this situation, pro-curement should seek ways to help supplier comply with the company's labour policy. LO 1, AC 1.1   NEW QUESTION 36 Daytona Ltd is developing a new product which is more environmental friendly. Though the objectives are set, the project team has no idea on which functions will be customers' favourites. Which of the following will help them decide the 'should-have' functions of the new product?

• A. Taguchi method
• B. Thomas-Kilmann model
• C. Kano model
• D. Six Sigma

Answer: C Explanation: The Kano model is useful in gaining a thorough understanding of a customer's needs. You can translate and transform the resulting verbatims using the voice of the customer table that, subse-quently, becomes an excellent input as the whatsin a quality function deployment (QFD) House of Quality. The model involves two dimensions: Achievement (the horizontal axis), which goes from the supplier didn't do it at all to the supplier did it very well. Satisfaction (the vertical axis), which goes from total dissatisfaction with the product or service to total satisfaction with the product or service. Dr. Noriaki Kano isolated and identified three levels of customer expectations: that is, what it takes to positively impact customer satisfaction. The figure below portrays the three levels of need: expected, normal, and exciting. The Thomas-Kilmann Conflict Mode Instrument (TKI) is a conflict style inventory, which is a tool developed to measure an individual's response to conflict situations. Genichi Taguchi, a Japanese engineer, proposed several approaches to experimental designs that are sometimes called "Taguchi Methods." These methods utilize two-, three-, and mixed-level fractional factorial designs. Large screening designs seem to be particularly favored by Taguchi adherents. Six Sigma is a method that provides organizations tools to improve the capability of their business processes. This increase in performance and decrease in process variation helps lead to defect re-duction and improvement in profits, employee morale, and quality of products or services. Source: - CIPS study guide page 171-172 - WHAT IS THE KANO MODEL? LO 3, AC 3.4   NEW QUESTION 37 When procuring an IT equipment, at which stage the buyer's expectations are translated into a technical specification?

• A. In-service support
• B. Design
• C. Installation
• D. Customer support

Answer: B Explanation: IT equipment is typically linked with through-life contracts. This type of contract not only deal with the specification and the price of a machinery, but also other stages such as design, manufacture, installation, in-service support, decommission and disposal. Among these stages, the design stage is when buyer's requirements are translated into technically correct specification. Reference: LO 3, AC 3.2   NEW QUESTION 38 ......