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Which of the following documents would you expect a supplier to submit as part of a Request for Proposal? Select THREE
Which of the following documents would you expect a supplier to submit as part of a Request for Proposal? Select THREEA . Full pricing information B. Liquidity Ratio C. Risk Assessments D. Method Statements E. Gearing RatioView AnswerAnswer: A,C,D Explanation: You would expect a supplier to submit full pricing information,...
A competitive advantage can be gained by doing what?
A competitive advantage can be gained by doing what?A . Increasing your prices B. Engaging in market research C. Building better relationships with primary stakeholders D. Completing formal tenders for all buying requirementsView AnswerAnswer: C Explanation: The correct answer is ‘Building better relationships with primary stakeholders’. This is a direct...
Which of the following statements are true of a market place which is considered a 'perfect competition'? Select TWO.
Which of the following statements are true of a market place which is considered a 'perfect competition'? Select TWO.A . there are no barriers to entry B. suppliers are selling differentiated products C. competition is at its highest level possible D. competition is not strongView AnswerAnswer: A,C Explanation: In a...
The Kraljic Model is most useful for which aspect of procurement?
The Kraljic Model is most useful for which aspect of procurement?A . category management B. cost analysis C. risk management D. cost reductionView AnswerAnswer: A Explanation: The Kraljic model "plays a key part in category management" p.19 of the textbook. Category Management = the spend in an organisation, broken down...
One of the fist stages of designing a Partnership is to come up with joint KPIs. These
One of the fist stages of designing a Partnership is to come up with joint KPIs. These should be:A . Measurable, achievable and time-bound B. Relatable, specific and measurable C. Time bound, difficult and relevant D. Significant, measurable and achievableView AnswerAnswer: A Explanation: The correct answer is Measurable, achievable and...
Why is this?
Varying levels of commitment is one reason why many partnerships fail . Why is this?A . It can lead to a lack of trust B. One party doesn’t fulfil their KPIs C. Sufficient time and resources are put in D. Less profit is made.View AnswerAnswer: A Explanation: The correct answer...
What should be Danny’s next step?
Danny is procuring a new IT software, which he doesn’t know much about. He has done a bit of research on the internet but is still unsure how much he can expect to pay . What should be Danny’s next step?A . Issue a RFI B. Issue a RFQ C....
Which of the following is Polly Manufacturing likely to outsource?
Polly Manufacturing is a company which manufactures bicycle parts. It has several factories around the country and is one of the leading suppliers of wheels, bells and pedals. Which of the following is Polly Manufacturing likely to outsource? Select TWO options.A . Manufacturing of all bicycle parts B. Manufacturing of...
Which of the following are valid strategies for dealing with conflict? Select THREE
Which of the following are valid strategies for dealing with conflict? Select THREEA . Competing B. Collecting C. Contesting D. Compromising E. CollaboratingView AnswerAnswer: A,D,E Explanation: The three right answers are competing, collaborating and compromising. See the Thomas Kilmann Model on p.87. There are quite a few questions on this...
What does PIN stand for?
In Public Sector procurement a PIN is sent out to inform suppliers of an upcoming tender opportunity . What does PIN stand for?A . Prior Information Notice B. Procurement Information Number C. Procurement Identification Number D. Possibilities Identified NoticeView AnswerAnswer: A Explanation: A PIN is a ‘prior information notice’ C...
