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ISM INTE Exam - Topic 5 Question 7 Discussion

Which of the following is the FIRST stage in the Retail Event Collaboration Process Overview (VICS CPFR Model)?
D) Demand and supply management
A) Execution
B) Strategy and planning
C) Analysis

ISM INTE Exam - Topic 5 Question 7 Discussion

Actual exam question for ISM's INTE exam
Question #: 7
Topic #: 5
[All INTE Questions]

Which of the following is the FIRST stage in the Retail Event Collaboration Process Overview (VICS CPFR Model)?

Show Suggested Answer Hide Answer
Suggested Answer: D

In the context of low-cost country sourcing and minimizing risk when importing goods, the selection of appropriate Incoterms 2020 rules is crucial.

DAP (Delivered at Place) is the most suitable Incoterm for a firm wanting to assume the least amount of risk. Under DAP, the seller is responsible for all costs and risks associated with delivering the goods to a specified destination, which includes transportation, export customs clearance, and any other logistical arrangements until the goods are made available for unloading at the buyer's location. This significantly reduces the buyer's risk as the seller handles most of the transportation and logistics.

Other Incoterms, such as:

CFR (Cost and Freight): The seller pays for the cost and freight to bring the goods to the port of destination. However, the risk is transferred to the buyer once the goods are loaded on the vessel.

CPT (Carriage Paid To): Similar to CFR, but can be used for any mode of transport. The seller covers transport costs to a specified destination, but the risk transfers to the buyer upon handing over the goods to the first carrier.

EXW (Ex Works): The buyer assumes all risks and costs from the seller's premises onward, making it the highest risk for the buyer.


Incoterms 2020 by the International Chamber of Commerce (ICC)

'A Guide to Incoterms 2020' by the International Trade Centre (ITC)

by Lawrence at Jul 05, 2024, 03:42 PM

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Javier
10 months ago
Yeah, Strategy and planning is the first step for sure!
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Troy
10 months ago
Wait, is it really Strategy and planning? That seems off.
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Soledad
10 months ago
No way, it's Analysis!
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Shonda
11 months ago
I thought it was Execution.
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Jesusita
11 months ago
It's definitely Strategy and planning!
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Lasandra
11 months ago
I keep mixing up the stages, but I think "Demand and supply management" comes later in the process. I hope I remember this correctly!
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Delsie
11 months ago
I practiced a question similar to this, and I think "Analysis" was mentioned as an early stage. But I can't recall if it was the very first.
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Sherell
11 months ago
I feel like "Execution" could be the first step, but that seems too advanced for the beginning of the process.
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Carri
11 months ago
I think the first stage might be "Strategy and planning," but I'm not entirely sure. I remember it being about setting the groundwork.
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Chanel
11 months ago
Ah, I remember this from class. The first stage is definitely "Strategy and planning". That sets the foundation for the rest of the CPFR process. I'm confident that's the correct answer.
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Queenie
11 months ago
Execution? No, that can't be right. The first stage has to be more about planning and preparation. I'm leaning towards B, "Strategy and planning".
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Eun
12 months ago
Okay, the question is asking about the first stage in the CPFR process. I'm pretty sure it's "Strategy and planning", but I'll double-check my notes to be sure.
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Lashon
12 months ago
Hmm, this looks like a tricky one. I'll need to think through the CPFR model stages carefully to figure out the right answer.
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Domitila
12 months ago
I'm a bit confused on this one. The CPFR model has a lot of stages, so I want to make sure I get the order right. I'll review my materials and try to eliminate the wrong answers.
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Kate
12 months ago
Hmm, I'm not sure about this one. I'll have to think it through carefully. Maybe I should review the Cloud Pak for Integration documentation again.
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Georgiana
12 months ago
I'm pretty sure the metric for RIP is hop count, but I'm not 100% sure about the maximum routable value. I'll have to think this through carefully.
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Lilli
1 year ago
I hope the answer isn't Demand and supply management. That would be like trying to bake a cake without any ingredients!
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Kandis
1 year ago
B) Strategy and planning
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Marva
1 year ago
A) Execution
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Louvenia
1 year ago
That makes sense, but I still think it's B) Strategy and planning to set the direction for the collaboration process.
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Tammara
1 year ago
I believe it's D) Demand and supply management because you need to understand the demand before planning.
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Louvenia
1 year ago
I think the first stage is B) Strategy and planning.
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Casey
1 year ago
Brittany
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Floyd
1 year ago
D) Demand and supply management
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Mayra
1 year ago
C) Analysis
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Elfrieda
1 year ago
B) Strategy and planning
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Jesse
1 year ago
A) Execution
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