Which of the following are most likely to negatively affect the suppliers’ bargaining power in a specific market? Select TWO that apply:
Which of the following methods will enable a company to eliminate waste, lost time and lost material from its processes?
Bob is a new procurement specialist at XYZ Ltd. He is assigned to categorise the company's sup-plies. After analysing, Bob realises that a group of low value products is sourced from a tiny geo-graphical area which is prone to flooding. What would be the best strategy to manage this category of products?
British Steel needs to source a set of instruments that will improve quality of steel. Without these instruments British Steel will loss control of the temperature. The bucket may freeze up, or if it is too hot it leaks out of the casting process, damaging the machine. There is limited supply on the market and quality varies greatly. Which of the following will be the most appropriate managing approach to procure these items?
A company is planning the procurement of an IT system and wants to agree a through-life contract with the supplier to ensure ongoing system support. The first step in producing that specification should be to:
When should procurement professional tolerate a risk?
EV Inc is facing the following challenges:
1. The capital investment is enormous.
2. Most of company's working capital is in form of inventories, which include raw materials, work-in-progress and finished goods.
3. Competitors are increasingly deploying robotics and automation to boost productivity.
Which of the below business sectors does EV Inc belong to?
A purchaser is looking for alternative supplies if there is a major disruption to their supply chain, including logistics, manufacturing and all support services. Which of the following method is that purchaser applying?
When procuring a machinery, at which stage buyer must check whether it is working to the stand-ards set out in the design specification?
Which of the following factors is most likely to be a barrier to new entrant in agriculture?
Which of the following is the best definition of target costing?
Which of the following is the disadvantage of embedding standards in a specification?
Aldar Properties is a property developer in UAE. In last month, it spent $2,160 for 10 tons of steel. In this month, it had planned 10% increment in budget for steel comparing to last month. But the number of orders boosted and total spend on steel reached $1,992.1 while Aldar has imported 11 tons. What is the main cost driver of steel budget?
Which of the following activities are considered as primary activities of an organization according to Porter's value chain? Select TWO that apply:
Why should procurement professionals develop business case before seeking approval to purchase capital equipment?
What is the contribution of marketing function to the development of specification?
What does the acronym RAQSCI stand for?
Why is the specification considered as the most important document in procurement?
Why should the buying organisation require the supplier to carry out acceptance testing?
Which of the following are typically included in a conformance specification? Select TWO that apply.
A buyer in Housing Authority is considering using performance specification in upcoming social housing project. What should buyer be aware when using this type of specification?