reader 2024

• What is the purpose of the "Supplier Evaluation Guide"?

  To outline the importance of evaluating suppliers for quality, compliance, and risk management.
• Why is supplier evaluation crucial for businesses?

  It helps maintain a resilient supply chain and minimizes risks.
• What are the risks associated with not evaluating suppliers?

  Financial, legal, reputational, or regulatory issues may arise.
• What are the benefits of supplier evaluation?

  • Improved customer satisfaction and alignment with business goals
  • Enhanced supplier performance and supply chain resilience
  • Early identification of potential risks and issues
• What is the first step in the supplier evaluation process?

  Set clear objectives and criteria for evaluation.
• What should be included in the standardized evaluation tool for suppliers?

  A consistent questionnaire or checklist to gather relevant data.
• Why is it important to conduct background checks and financial assessments on suppliers?

  To ensure suppliers are financially stable and reliable.
• What is the purpose of visiting a supplier's facility during evaluation?

  To verify capabilities and commitment to quality through on-site inspections.
• How should data be compiled and analyzed during supplier evaluation?

  Using a scoring system to assess suppliers' strengths and weaknesses.
• What is involved in implementing a supplier evaluation program?

  • A systematic approach with regular assessments
  • Use of tools like scorecards, RFIs, RFPs, and third-party audits
  • Ensuring continuous improvement
• What are key evaluation parameters for suppliers?

  Quality of output, commercial viability, production capacity, support quality, and third-party risk assessment.
• What does the quality of output parameter assess?

  Whether the supplier can scale and meet quality expectations.
• What does commercial viability evaluate in supplier assessment?

  The cost-effectiveness of the engagement with the supplier.
• Why is production capacity important in supplier evaluation?

  To ensure the supplier can handle the business's demand.
• What does support quality assess in supplier evaluation?

  The level of support the supplier can provide during the engagement.
• What is the purpose of third-party risk assessment in supplier evaluation?

  To evaluate financial, legal, reputational, and compliance risks associated with the supplier.
• What tools are essential for supplier evaluation?

  • RFIs (Requests for Information)
  • RFPs (Requests for Proposals)
  • RFQs (Requests for Quotations)
  • Scorecards
  • SWOT analysis
  • Third-party audits
• What is the critical role of supplier evaluation in business?

  To build a robust and resilient supply chain that sustains business growth and minimizes risks.
• What does cloud computing enable businesses to do?

  Run applications on shared infrastructure rather than on local servers or PCs.
• What are the characteristics of cloud technology?

  On-demand self-service, broad network access, resource pooling, rapid elasticity, and measured service.
• What are the three main service models of cloud computing?

  • SaaS (Software as a Service)
  • PaaS (Platform as a Service)
  • IaaS (Infrastructure as a Service)
• What does SaaS stand for and what does it provide?

  Software as a Service; applications hosted in the cloud and accessed over the internet.
• What does PaaS stand for and what does it offer?

  Platform as a Service; platforms for developing, running, and managing applications without dealing with infrastructure.
• What does IaaS stand for and what does it provide?

  Infrastructure as a Service; virtualized computing resources over the internet.
• What are the deployment models of cloud services?

  • Public Cloud: Services offered over the public internet.
  • Private Cloud: Services maintained within a company’s own infrastructure.
  • Community Cloud: Shared infrastructure for a specific community.
  • Hybrid Cloud: Combines public and private clouds.
• What are the advantages of cloud computing?

  Flexibility, cost savings, enhanced collaboration, automatic software updates, and disaster recovery options.
• What are the limitations of cloud technology?

  Communication failures, security risks, legal challenges, and service quality issues.
• How does cloud computing impact business development?

  It enhances ease of use, cost reduction, reliability, security, and collaboration.
• What is the conclusion regarding cloud computing's impact on SMEs?

  It offers cost-effective, scalable, and reliable solutions that enhance operational efficiency.
• What is blockchain technology?

  A decentralized and distributed ledger system revolutionizing various industries.
• What does blockchain enable in transactions?

  Secure, transparent, and tamper-proof transactions without intermediaries.
• When did blockchain gain prominence?

  With the creation of Bitcoin by Satoshi Nakamoto in 2008.
• What are some applications of blockchain beyond cryptocurrency?

  Smart contracts and decentralized applications (DApps).
• What economic implications is blockchain expected to have by 2024?

  Potentially contributing up to $120 billion to the global economy.
• In which sectors is blockchain being explored?

  Healthcare, supply chain management, and government services.
• What are the future prospects of blockchain adoption?

  Growing adoption with potential applications in identity verification and asset management.
• What challenges does blockchain technology face?

  Regulatory issues, scalability concerns, and the need for widespread adoption.
• What is AI ethics?

  A response to concerns about the impact of AI on society.
• How is AI ethics related to digital ethics?

  It is a subset addressing issues raised by digital technologies like AI, big data, and blockchain.
• What are key concepts in AI ethics?

  • Definitions of important terms like "AI" and "ethics"
  • Relationship of AI ethics to societal and political issues
  • Interdisciplinary nature involving philosophy, law, sociology, and computer science