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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...
Which of the following may allow suppliers free to choose the materials, manufacturing process or delivery process?
Which of the following may allow suppliers free to choose the materials, manufacturing process or delivery process?A . Performance specificationB . Design specificationC . Technical specificationsD . Conformance specificationView AnswerAnswer: A Explanation: The Performance Specifications define what the system being designed must do, and not how it must do it....
Is that concern justified?
A procurement manager consolidates the company expense on printing and office supplies into broader range of spend category. Other senior managers are concerned that it may increase company’s spend. Is that concern justified?A . No, because the broader range of spend category can increase the value of the contract and...
Which of the following is the purpose of benchmarking?
Which of the following is the purpose of benchmarking?A . To identify and adapt the best practices to improve organisation's performanceB . To copy other organisation's intellectual properties, processes and practicesC . To coerce all suppliers to sacrifice their profitD . To resist continuous improvementView AnswerAnswer: A Explanation: According to...
Which of the following problems may be identified as open-ended problems? Select TWO that apply:
Which of the following problems may be identified as open-ended problems? Select TWO that apply:A . Shortage of key medicines in healthcare industryB . A cyber attack takes down whole company’s IT systemC . Engine failures cause flight cancellations.D . Logistics costs incur a large portion in wholesale pricesE ....
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...
Which of the following factors are likely to be direct barriers to a new entrant in a supply market?
Which of the following factors are likely to be direct barriers to a new entrant in a supply market?A . Threat of forward integrationB . Value to priceC . Brand identityD . Availability of substitutesE . Cost advantagesView AnswerAnswer: C, E Explanation: There are many types of barriers to entry...
Which of the following are typically reasons why an organisation implements value analysis? Select TWO that apply:
Which of the following are typically reasons why an organisation implements value analysis? Select TWO that apply:A . To determine the value of each component usedB . To decide whether there will be sufficient surplus funds to reinvest in the businessC . To shape and manage supply marketD . To...
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...
Low switching costs
Low switching costsA . 2 and 4 onlyB . 3 and 4 onlyC . 2 and 3 onlyD . 1 and 4 onlyView AnswerAnswer: C Explanation: Barriers to entry is an economics and business term describing factors that can prevent or impede newcomers into a market or industry sector, and...
