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HBX CORe (Credential of Readiness) is an online program offered by Harvard Business School that provides a comprehensive introduction to the fundamentals of business. This program is designed for students and professionals who wish to gain a better understanding of business concepts and pursue a successful career in the field. HBX CORe covers three key areas: business analytics, economics for managers, and financial accounting.

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At the end of the HBX CORe program, learners are required to take the HBX CORe Final Examination, which is a comprehensive test designed to assess their knowledge and understanding of the CORe business concepts covered in the program. CORe exam consists of multiple-choice questions and covers topics such as financial statements, supply and demand, market equilibrium, and regression analysis. Successful completion of the examination earns the learner a Credential of Readiness from Harvard Business School, a valuable certification that demonstrates their proficiency in business fundamentals and enhances their career prospects.

The HBX CORe program is designed to provide students with a comprehensive understanding of business concepts and practices. The program covers a wide range of topics, including financial accounting, economics, and business analytics. Each course is taught by Harvard Business School faculty members who are experts in their respective fields. The program is delivered entirely online, allowing students to study at their own pace and on their own schedule.

ISM Supply Management Core Exam Sample Questions (Q18-Q23):

NEW QUESTION # 18
A supply manager for JKL, Inc. finds a potential new supplier for an item included In a finished product.
Quality and service are comparable to those of the current supplier, and the new supplier's cost per unit is $.03 lower than that of the current supplier. Making the transition to the new supplier will require changes to operations costing approximately $12,000. How many units would JKL need to buy in order to justify changing suppliers?

A. 36,001
B. 360,001
C. 400,001
D. 40,001

Answer: C

NEW QUESTION # 19
PQR, Inc. is a globally certified manufacturer and repair shop of aircraft parts. PQR's costs to produce these parts are as follows:
MethodCost per part
Manufacture internallyS 11,000
Purchase from outside manufacturer$ 10,000
Acquire resale parts and repair internally$ 9,000
Purchase refurbished parts from non-certified repair shop with its extended warranty$ 8,000 The firm's CEO directs supply management to provide wing flap inventory at the lowest cost to the company, while still meeting the goal of multinational market expansion. Which of the following courses of action BEST meets the CEO's directive?

A. Manufacture the parts internally
B. Purchase materials from an outside manufacturer
C. Purchase refurbished parts from non-certified repair shop with its extended warranty
D. Acquire resale parts and repair them internally

Answer: D

NEW QUESTION # 20
One of TUV Company's largest suppliers has been performing poorly, and the quality of its services does not meet the needs of a particular stakeholder. Which of the following is the BEST way for TUV's supply manager to evaluate how to establish service level agreements (SLAs) to improve the performance of this supplier?

A. Notify the supplier that its level of performance is not acceptable, and renegotiate contract pricing to reflect the supplier's performance
B. Request that the supplier provide a set of metrics to be used in measuring performance
C. Notify the supplier of the performance issues, and terminate the contract if the supplier does not correct performance within thirty days
D. Develop measurements of supplier performance with the stakeholder, and include those measurements in an amendment to the contract

Answer: D

Explanation:
* Identify Stakeholder Needs: Understanding the specific performance issues as identified by the stakeholder.
* Collaborative Measurement Development: Working with the stakeholder to develop specific, measurable, achievable, relevant, and time-bound (SMART) performance metrics.
* Contract Amendment: Including these agreed-upon performance metrics in the contract ensures that the supplier is contractually obligated to meet these standards.
* Monitor and Review: Regularly reviewing these performance metrics to ensure continuous improvement and compliance by the supplier.
References
* Supplier Performance Management Literature
* Contract Management Best Practices
* Service Level Agreement Guidelines

NEW QUESTION # 21
A manufacturing company purchases a certain component in quantities of 10,000 units per truckload. The company uses 2,000,000 units annually. The firm's supply manager identifies two possible suppliers of the component, both of which meet service and quality requirements.
Supplier A offers the component at $.69 per unit and charges $2000 to ship one truckload. Supplier B offers the component at $.71 per unit and charges $1500 to ship one truckload. Given this situation, which of the following will be MOST useful to the supply manager in deciding between the two suppliers?

A. Landed price
B. Economic order quantity
C. Value analysis
D. Cost/price analysis

Answer: A

Explanation:
* Calculate Total Cost per Supplier: This includes the unit price and shipping costs.
* Supplier A: Unit cost is $0.69. Shipping cost is $2000 per 10,000 units.
* Total cost per unit: $0.69 + ($2000/10,000) = $0.69 + $0.20 = $0.71 per unit.
* Supplier B: Unit cost is $0.71. Shipping cost is $1500 per 10,000 units.
* Total cost per unit: $0.71 + ($1500/10,000) = $0.71 + $0.15 = $0.715 per unit.
* Compare Landed Prices: The total cost per unit for Supplier A is $0.71, and for Supplier B, it is
$0.715.
* Decision: Supplier A offers the lower landed price at $0.71 per unit compared to Supplier B's $0.715 per unit.
References
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.
* Christopher, M. (2016). Logistics & Supply Chain Management. Pearson.

NEW QUESTION # 22
A government agency is interested in developing the most accurate forecast for the poverty rate in the United States and decides to perform regression analyses using a combination of the following independent variables: the percent of women in the labor force and the percent of the population that is uninsured. The agency collects data from all 50 U.S. states but is unsure whether both variables should be in the model. The agency runs three regressions:
Regression A. Poverty Rate = a + b1*(Percent of women in the labor force) + b2*(Percent uninsured)
Regression B. Poverty Rate = a + b*(Percent of women in the labor force)
Regression C. Poverty Rate = a + b*(Percent uninsured)

The regression statistics for all three regressions are given below. Based on these statistics, which model should the agency use to obtain the MOST accurate forecast?

A. Regression B
B. Regression C
C. Regression A
D. Regressions A and B provide equally accurate forecasts

Answer: A

NEW QUESTION # 23
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