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CORRECT TEXT Describe the seven stages of the Tender Process and explain the reasons why the stages must be followed.View AnswerAnswer: The purpose of the tendering process is to invite potential suppliers to bid to supply a product or service to the buying organization. Then buying organization select suitable suppliers,...

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 are the reasons that a contract can legally be terminated?View AnswerAnswer: A contract is written or verbal agreement, made between two or more parties that are legally en-forceable. For a contract to be legally binding it must include intention of parties entering into the contracts. All parties...

CORRECT TEXT What are the eight elements of whole life asset management?View AnswerAnswer: Whole life asset management is the process of evaluating the total price and all associated costs of a product to make an informed decision as to which option will provide the organization with the best value for...

CORRECT TEXT Write down a list of assets that belong to an organization with which you are familiar.View AnswerAnswer: Assets are things that an organization owns regarded as having value and available to meet debt and generate revenue. The following are list of assets owned by Fullpower project, a shoe...

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 Describe four factors that could damage reputation within the supply chairView AnswerAnswer: The reputation of all the organizations within a supply chain is linked. A Company’s reputation is an intangible asset that can contribute to the failure of an organization if damaged. Factors that could damage organizational reputation...

Which Incoterm applies here? The supplier is responsible for delivering the goods to the buyer’s premises include arranging any custom clearances that applies, bearing all risk up until this point.A . DAT C Delivered At Terminal B. DAP C Delivered At Place C. DDP C Delivery Duty Paid D. FAS...

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 How can procurement professionals select suppliers?View AnswerAnswer: During the sourcing stage of the procurement cycle, the procurement professional needs to identify and select suppliers to fulfill the business needs. Supplier selection involves evaluating suppliers against predetermine criteria to assess their suitability in working with the buying organization. Suppliers...