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Which of the following will enable the organisation to achieve this goal?
A procurement organisation is keen to encourage innovation available within the supply market in the execution of an upcoming significant contract opportunity. A team member suggests that the specification should define the performance indicators so that supplier's solution can be checked against them. Which of the following will enable the...
Standardisation
StandardisationA . 2 and 3 only B. 1 and 3 only C. 3 and 4 only D. 1 and 4 onlyView AnswerAnswer: D Explanation: Value analysis is often defined as a systematic process for improving the value of a product, service or project. It is typically used in the following...
Which of the following are typical environmental considerations throughout the contract life cycle? Select the TWO that apply.
Which of the following are typical environmental considerations throughout the contract life cycle? Select the TWO that apply.A . Modern slavery B. Health and safety C. Inequality D. Waste management E. Pollution controlView AnswerAnswer: D,E Explanation: All procurement has some level of impact on the environment that needs to be...
What is this process called?
To strengthen its market presence, ABC Group decided to develop a new product. A cross-functional team was formed to discuss the scope and the functions of the product. They will also survey the potential customers to see what they like, what they love, and what they dislike. What is this...
Which of the following are typically reasons why an organisation implements value analysis? Select TWO that apply:
Which of the following are typically reasons why an organisation implements value analysis? Select TWO that apply:A . To determine the value of each component used B. To decide whether there will be sufficient surplus funds to reinvest in the business C. To shape and manage supply market D. To...
Is this a correct approach?
Sealines Inc is developing its fleet of cargo ships. The company is planning to build a new ship powered by natural gas. Brian, the procurement manager at Sealines, suggests the project team to develop a through-life specification before engaging with the supplier. Is this a correct approach?A . Yes, decommissioning...
This arrangement is known as...?
A procurement manager is discussing with other stakeholders about the scope and the implementation of the upcoming construction project. A stakeholder argues that the construction projects are often risky as the overall scope of the work can't be accurately estimated from the beginning. Furthermore, the project spans over a long...
Which of the below business sectors does EV Inc belong to?
Competitors are increasingly deploying robotics and automation to boost productivity. Which of the below business sectors does EV Inc belong to?A . Construction B. Manufacturing C. Financial services D. RetailsView AnswerAnswer: B Explanation: Every sector among the options requires intensive capital investment. However, only manufacturing and retails bury much of...
Which of the following problems may be identified as closed problems? Select TWO that apply:
Which of the following problems may be identified as closed problems? Select TWO that apply:A . A cyber attack takes down whole company’s IT system B. Shortage of key medicines in healthcare industry C. There are not enough data for procurement analytics D. Logistics costs incur a large portion in...
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....
