- All Exams Instant Download
Which of the following should be the best course of action of GE's CPO?
GE has developed TurboProp engine that is made from over 850 metal parts. These parts are sourced from many suppliers. Value of spend on these parts make up 73% of total spend. Any delay in receiving a part will cause a bottleneck around the production of the engine. Which of...
Is the procurement manager’s opinion correct?
A procurement manager is writing a conformance specification for a non-core component. She thinks that if the requirements in specification are higher than ISO standards, her company can achieve greater cost-savings. Is the procurement manager’s opinion correct?A . No, because higher specification may incur additional costs for the buyer B....
Which of the following are considered as direct costs in a construction company? Select TWO op-tions
Which of the following are considered as direct costs in a construction company? Select TWO op-tionsA . Raw materials B. An employee is hired to work on a project, either exclusively or for an assigned number of hours C. The materials and supplies needed for the company’s day-to-day operations. D....
What is the output of regression analysis?
What is the output of regression analysis?A . Forecasting process B. Dependent variables C. Line of best fit D. Independent variablesView AnswerAnswer: C Explanation: Regression refers to a quantitative measure of the relationship between one or more independent variables and a resulting dependent variable. Regression is of use to professionals...
Which of the following activities are considered as secondary activities of an organization? Select TWO that apply
Which of the following activities are considered as secondary activities of an organization? Select TWO that applyA . Component fabrication B. Training C. Information system development D. Shipping E. Service responseView AnswerAnswer: B,C Explanation: According to Porter's value chain, secondary activities consist of firm infrastructure, human re-source management, technology development...
Which of the following indicates types of waste that procurement department concentrates on when adopting Lean methods?
Which of the following indicates types of waste that procurement department concentrates on when adopting Lean methods?A . DOWNTIME B. VA/VE C. OWN-IT D. SCAMPERView AnswerAnswer: A Explanation: Copious amounts of waste can occur in the workplace, particularly in a manufacturing process, but do you know what the eight most...
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 are considered as direct costs in a construction company? Select TWO op-tions
Which of the following are considered as direct costs in a construction company? Select TWO op-tionsA . Raw materials B. An employee is hired to work on a project, either exclusively or for an assigned number of hours C. The materials and supplies needed for the company’s day-to-day operations. D....
Which of the following is the disadvantage of embedding standards in a specification?
Which of the following is the disadvantage of embedding standards in a specification?A . Standards do not improving buyer's bargaining power B. Embedding standards into specification requires enormous time and effort C. Standards are too static and discourage innovation D. Standards are too flexible and may cause ambiguity in the...
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...
