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CORRECT TEXT What is business case?View AnswerAnswer: A business case is a document containing the justification and the commercial benefits achievable for a potential project or an identified need, for example, the purchase of a capital equipment, con-struction of an additional warehouse or procuring more innovative software to replace the...

Which Incoterm applies here? The supplier is responsible for delivering the goods directly onto the vessel that will transport them to their named destination. As soon as the goods are on the vessel, the risk transfers to the buyerA . FOB C Free On Board B. DAP C Cost and...

CORRECT TEXT Describe five types of contract terms that a procurement professional should create with a supplier when forming an agreement.View AnswerAnswer: Terms are the right and duties agreed which are then documented in a contract. Five types of con-tract terms that a procurement professional should create with a supplier...

CORRECT TEXT What are five recognized types of modern slavery?View AnswerAnswer: Modern slavery is against ethical and responsible sourcing. Modern slavery is one of the areas to understudy for procurement professionals to carry out ethical and responsible sourcing and this is recognized in five ways.

CORRECT TEXT What is PQQ and what does it include?View AnswerAnswer: Pre-qualification questionnaire (PQQ) is often standard forms that buyers send to po-tential suppliers. The purpose is to ensure that these potential suppliers could, if they win the contract, supply the product or service to the standard required. PQQ includes...

CORRECT TEXT Describe three ways in which a buyer could or test the market in other to assist with determining a need.View AnswerAnswer: Once the need has been understood, defined, justified and authorized, the next stages are to analyze and test the market. Analyzing and testing the market includes looking...

CORRECT TEXT What is contract performance review and continuous improvement?View AnswerAnswer: Contract performance review and continuous improvement is the stage 11 of the CIPS procurement and supply cycle. In order to effectively manage supplier performance and contractual obligations, the suppliers per-formance against key performance indicators (KPI) should be reviewed regularly....

CORRECT TEXT Describe three ways in which a buyer could or test the market in other to assist with determining a need.View AnswerAnswer: Once the need has been understood, defined, justified and authorized, the next stages are to analyze and test the market. Analyzing and testing the market includes looking...

CORRECT TEXT Describe two ways in which an organization with which you are familiar could use continuous im-provement as part of whole life asset management.View AnswerAnswer: Continuous improvement relates to removing waste from the supply chain and improving processes to increase efficiency within whole life asset management in a full...

CORRECT TEXT Describe three ways in which a buyer could or test the market in other to assist with determining a need.View AnswerAnswer: Once the need has been understood, defined, justified and authorized, the next stages are to analyze and test the market. Analyzing and testing the market includes looking...