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Which of the following can be an assurance that the supplier has procedures and policies to enhance its environmental performance?
XYZ Ltd is a large supermarket chain which operates mainly in the UK and Europe. Their customers are increasingly concerned about sustainability. Therefore, procurement manager is required to source the products from suppliers who have good environmental performance. Which of the following can be an assurance that the supplier has...
Which of the following is the new technology that has impact on manufacturing sector?
Which of the following is the new technology that has impact on manufacturing sector?A . Social MediaB . E-commerceC . RoboticsD . BlockchainView AnswerAnswer: C Explanation: Robots in manufacturing help to create jobs by reshoring more manufacturing work. Robots protect workers from repetitive, mundane and dangerous tasks, while also creating...
When procuring a machinery, at which stage buyer must check whether it is working to the standards set out in the design specification?
When procuring a machinery, at which stage buyer must check whether it is working to the standards set out in the design specification?A . InstallationB . Maintenance and repair activitiesC . Customer supportD . ManufactureView AnswerAnswer: A Explanation: Through-life Management involves the life-cycle management of the products, services and activities...
Which of the following is the best definition of target costing?
Which of the following is the best definition of target costing?A . The net present cost of the purchase or project and all future revenues flowing from it discounted back to the present time.B . The total of all costs in acquiring goods or services from the inception of the...
Which of the following specific markets is most likely to have product shortage by nature?
Which of the following specific markets is most likely to have product shortage by nature?A . RetailB . FinancialC . ConstructionD . ServicesE . AgricultureView AnswerAnswer: E Explanation: Products used in agriculture can be subject to shortage due to natural disasters. Reference: CIPS study guide page 81 LO 2, AC...
Which of the following is the core of value analysis process?
Which of the following is the core of value analysis process?A . Be creativeB . DevelopC . EvaluateD . Gather informationE . Carry out functional analysisView AnswerAnswer: E Explanation: Value Analysis (VA) is concerned with existing products. It involves a current product being ana-lysed and evaluated by a team, to...
Which of the following is the bank balance of that organization at the end of the year?
This is the information on an organisation’s activities over the past year • Sale were $5,000,000. The value of accounts receivable was $450,000 at the start of the year and $525,000 at the end of the year • The value of direct costs was $2,500,000 and 75% of this was...
Which of the following traits will make the information more useful?
Ymira is asked to develop the specification for water purifier which will be used at the company headquarter. She believes that the specification can be drafted based on the information available on the Internet, such as blog posts, comparison websites, how-to websites, life hacks, etc. Which of the following traits...
This arrangement is known as...?
A procurement manager is discussing with other stakeholders about the scope and the implementation of the upcoming construction project. A stakeholder argues that the construction projects are often risky as the overall scope of the work can't be accurately estimated from the beginning. Furthermore, the project spans over a long...
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...
