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Which type of specification is less time-consuming to develop?
Which type of specification is less time-consuming to develop?A . Outcome-based specificationB . Design specificationC . Conformance specificationD . Technical drawingsView AnswerAnswer: A Explanation: There are two major types of specification: conformance and performance specifications. They have the following characteristics: Since performance specification is often a list of outputs or...
Which of the following statements is true about product life cycle?
Which of the following statements is true about product life cycle?A . The price remains static throughout the product life cycleB . The price competition will be the fiercest at the declining stage because the inventories are plentifulC . If price skimming is adopted, the supplier will gradually lower the...
Which internal stakeholders may help Angelica estimate the breakdown of costs?
Thani Ltd is a fast growing logistics company with a fleet of 20 tractors. To meet Net Zero objective, the company needs to electrify its fleet. Angelica is assigned to investigate the market price of electrifying services. After the investigation, she realises that the current market price is very expensive...
The purchase is made in emergency
The purchase is made in emergencyA . 2 and 4 onlyB . 1 and 4 onlyC . 1 and 3 onlyD . 2 and 3 onlyView AnswerAnswer: A Explanation: The difference between the standard cost of direct materials specified for production and the actual cost of direct materials used in...
What is this process called?
To strengthen its market presence, ABC Group decided to develop a new product. A cross-functional team was formed to discuss the scope and the functions of the product. They will also survey the potential customers to see what they like, what they love, and what they dislike. What is this...
Why is the specification considered as the most important document in procurement?
Why is the specification considered as the most important document in procurement?A . It provides a mean to appraise the performance of supplierB . It helps the buyer to gain at supplier's lossC . It eliminates all possible supply risksD . It always shifts the balance of bargaining power in...
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...
to reduce the dependence by finding alternative sources. Is this a right course of action?
A procurement team is categorising their purchased items into four quadrants of Kraljic's supply chain portfolio matrix. They realise that there are some low-value items which come from very few suppliers in the market. The organisation is critically dependent on these suppliers. The team plans to reduce the dependence by...
How many products does the company have to sell to achieve break-even point?
Company A sells a product for $100. The total unit variable costs are $60. Fixed costs as in its ac-count are $20,000. How many products does the company have to sell to achieve break-even point?A . 600B . 550C . 400D . 500View AnswerAnswer: D Explanation: Break even point =...
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...
