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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...
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...
Sabic is a petrochemical manufacturer. It wants to digitalise its operation and is looking for new IT system. The procurement manager approaches this matter with a through-life specification. He supposes that stating “good quality” in the specification will be enough for quality standard section. Is the procurement manager’s thought appropriate?
Sabic is a petrochemical manufacturer. It wants to digitalise its operation and is looking for new IT system. The procurement manager approaches this matter with a through-life specification. He supposes that stating “good quality” in the specification will be enough for quality standard section. Is the procurement manager’s thought appropriate?A...
Which of the following specific markets engage in creation, liquidation and change of ownership of stock?
Which of the following specific markets engage in creation, liquidation and change of ownership of stock?A . FinancialB . ManufacturingC . ConstructionD . AgricultureE . RetailView AnswerAnswer: A Explanation: According to Investopedia, the financial services sector provides financial services to people and corporations. This segment of the economy is made...
