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Which of the following best describe the procurement manager's suggestion?
A hospital extensively spends on medical and implantable devices, medical, surgical and pharmaceutical supplies, costs of supplies related to buildings and maintenance operations. Hospital’s procurement manager suggests that the hospital has an opportunity to reduce operational costs by reducing variation of medical devices and pharmaceutical supplies. Which of the following...
Which of the following standards specifies requirements for a quality management system?
Which of the following standards specifies requirements for a quality management system?A . ISO 27001B . ISO 9001:2015C . ISO 22000:2018D . ISO 14001:2015View AnswerAnswer: B Explanation: ISO 9001:2015 specifies requirements for a quality management system. ISO 14001:2015 specifies the requirements for an environmental management system that an organization can...
At which stage of through-life contract management, procurement team needs to identify sources of risk and the ways to mitigate them?
At which stage of through-life contract management, procurement team needs to identify sources of risk and the ways to mitigate them?A . Specification stageB . Supplier relationship stageC . Tendering stageD . Contracting stageView AnswerAnswer: B Explanation: Risk management has become incredibly complex, especially for capital purchase which requires through-life...
Housing Ltd is inviting a number of contractors to a tender for the construction of a commercial building. In the attachment to the invitation to tender, there is a document which describes the re-quired materials and installation methods. This document is known as...?
Housing Ltd is inviting a number of contractors to a tender for the construction of a commercial building. In the attachment to the invitation to tender, there is a document which describes the re-quired materials and installation methods. This document is known as...?A . Functional specificationB . Prescriptive specificationC ....
A procurement manager includes provision on recovery from natural disaster into a through-life specification. Some suppliers suppose that provision is unnecessary. Is procurement manager’s action justified?
A procurement manager includes provision on recovery from natural disaster into a through-life specification. Some suppliers suppose that provision is unnecessary. Is procurement manager’s action justified?A . No, because with current technology, natural disaster can’t disrupt supply chain.B . Yes, because natural disaster may cause risks in organisation’s supply chainC...
Which of the below business sectors does EV Inc belong to?
Competitors are increasingly deploying robotics and automation to boost productivity. Which of the below business sectors does EV Inc belong to?A . ConstructionB . ManufacturingC . Financial servicesD . RetailsView AnswerAnswer: B Explanation: Every sector among the options requires intensive capital investment. However, only manufacturing and retails bury much of...
Which of the following factors might prompt an organisation to procure an alternative product?
Which of the following factors might prompt an organisation to procure an alternative product? Select THREE that apply:A . Brand loyaltyB . Relative value to money between optionsC . Buying organisation's propensities to changeD . Easy access to distribution channelE . Threat of retaliationF . Switching costView AnswerAnswer: B, C,...
Which variable is used by Dana procurement manager to shape and manage supply market?
Dana is an automobile manufacturer. It has a new electrification strategy that aims at making eco-friendly electric pick-up trucks. To implement this strategy, the procurement department must source new categories of parts that make motors, sensors, solenoids and stators. He starts to analyse the market by identifying specific supply market...
Is this a correct approach?
Sealines Inc is developing its fleet of cargo ships. The company is planning to build a new ship powered by natural gas. Brian, the procurement manager at Sealines, suggests the project team to develop a through-life specification before engaging with the supplier. Is this a correct approach?A . Yes, decommissioning...
Standardisation
StandardisationA . 2 and 3 onlyB . 1 and 3 onlyC . 3 and 4 onlyD . 1 and 4 onlyView AnswerAnswer: D Explanation: Value analysis is often defined as a systematic process for improving the value of a product, service or project. It is typically used in the following...
