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Which of the following are sources of information that can be used to create the specification?
A buying organisation may not have technical capability to produce a highly complex specification. Which of the following are sources of information that can be used to create the specification? Select TWO that applyA . Standard terms and conditions B. Name cards C. Industry standards D. Suppliers' know-how E. ConstitutionView...
Is the procurement manager’s opinion correct?
A procurement manager is writing a conformance specification for a non-core component. She thinks that if the requirements in specification are higher than ISO standards, her company can achieve greater cost-savings. Is the procurement manager’s opinion correct?A . No, because higher specification may incur additional costs for the buyer B....
Is this a right course of action?
A procurement team is categorising their purchased items into four quadrants of Kraljic's supply chain portfolio matrix. They realise that there are some low-value items which come from very few suppliers in the market. The organisation is critically dependent on these suppliers. The team plans to reduce the dependence by...
What is the payback period of this band saw?
Andrew is responsible for procurement of capital assets at Lumber Ltd. He is devising new business case for the purchase of a new band saw. The purchase price of the saw is $50,000. Andrew estimates that the machine will generate $10,000 per year of net cash flow. What is the...
Why should the buying organisation require the supplier to carry out acceptance testing?
Why should the buying organisation require the supplier to carry out acceptance testing?A . To get the approval from the senior management B. To check whether the product matches the specification C. To compare between the account payables and account receivables D. To see whether the supplier engages in unethical...
What does the acronym RAQSCI stand for?
What does the acronym RAQSCI stand for?A . Relationship, Ability, Quality, Service, Cost, Innovation B. Regulatory, Availability, Quality, Service, Cost, Innovation C. Regulatory, Availability, Quantity, Sustainability, Inventory D. Regulatory, Ability, Quality, Service, Cost, Inventory E. Relationship, Availability, Quantity, Sustainability, Cost, InnovationView AnswerAnswer: B Explanation: RAQSCI stands for Regulatory, Availability, Quality,...
Which of the following are considered as direct costs in a construction company? Select TWO op-tions
Which of the following are considered as direct costs in a construction company? Select TWO op-tionsA . Raw materials B. An employee is hired to work on a project, either exclusively or for an assigned number of hours C. The materials and supplies needed for the company’s day-to-day operations. D....
Which of the following areas is specified by ISO/IEC 27001 family?
Which of the following areas is specified by ISO/IEC 27001 family?A . The dimensions and associated tolerances for a series of housings for piston seals B. The requirements for an information security management system C. Evaluation and assessment of mutual agreed customer food safety requirements D. The requirements for an...
What is the output of regression analysis?
What is the output of regression analysis?A . Forecasting process B. Dependent variables C. Line of best fit D. Independent variablesView AnswerAnswer: C Explanation: Regression refers to a quantitative measure of the relationship between one or more independent variables and a resulting dependent variable. Regression is of use to professionals...
Which of the following are considered as direct costs in a construction company? Select TWO op-tions
Which of the following are considered as direct costs in a construction company? Select TWO op-tionsA . Raw materials B. An employee is hired to work on a project, either exclusively or for an assigned number of hours C. The materials and supplies needed for the company’s day-to-day operations. D....
