P2P system
A . 2 and 3 only
B. 1 and 3 only
C. 2 and 4 only
D. 1 and 4 only
Answer: D
Explanation:
There are several methods to reduce the acquisition costs in procurement. L4M7 study guide lists the following methods:
– Buyer discretionary spend
– ‘User buying’
– Vendor managed inventory (VMI)
– Two-bin Kanban
– Product catalogue
– e-Procurement techniques, including some systems such as ERP, procure-to-pay (P2P), e-requisition, e-tendering, etc.
– Procurement cards
Reference: CIPS study guide page 155-156
LO 3, AC 3.1
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