Free ISM LEAD Exam Questions

A supply management department has recently received resignations from several important staff members. Exit interviews indicate that the primary reason for the staff members’ departure was frustration over their expertise not being valued. They also viewed their work as repetitive and not an efficient use of their time or effort. Which of the following would be the BEST way for the department manager to improve this situation? 

A supply management audit finds that sole source purchases have increased significantly due to the inexperience of the sourcing team, and that the waiving of competition is not justified in many cases. This has resulted in increased costs, as well as noncompliance with organizational policies requiring competitive solicitations. Which of the following is the BEST way to rectify this situation?

A supply manager for JKL, Inc. has been asked to develop a risk management plan for suppliers. The supply manager has identified the sources of risk and the probability of occurrence. In order to develop a risk management process, the supply manager should NEXT 

Which of the following requires a working knowledge of payback and net present value? 

A supply manager recently graduated from college is hired by a manufacturing organization as a buyer of industrial chemicals. The new supply manager has limited knowledge of chemicals and the marketplace. In this situation, which of the following is the FIRST step the supply manager should take?