P2P system

P2P system
A . 2 and 3 only
B. 1 and 3 only
C. 2 and 4 only
D. 1 and 4 only

Answer: D

Explanation:

There are several methods to reduce the acquisition costs in procurement. L4M7 study guide lists the following methods:

– Buyer discretionary spend

– ‘User buying’

– Vendor managed inventory (VMI)

– Two-bin Kanban

– Product catalogue

– e-Procurement techniques, including some systems such as ERP, procure-to-pay (P2P), e-requisition, e-tendering, etc.

– Procurement cards

Reference: CIPS study guide page 155-156

LO 3, AC 3.1