L4M5 exam

To buying organisation, savings can be achieved from different saving levers or tactics . Which of the following are means that deliver savings through optimising specifications?A . Value engineeringB . Part substitutionC . BudgetlinkagesD . Compare total cost of ownershipE . Volume poolingView AnswerAnswer: A,B Explanation: If driving greater value...

Which of the following is the internal factor that is taken intoprice of a product?A . Risk managementB . Customer tastesC . ElasticityD . Exchange rateView AnswerAnswer: A Explanation: In order to answer this question, you should better consider each option: 'Exchange rate' is the value of one nation's currency...

To buying organisation, savings can be achieved from different saving levers or tactics . Which of the following are means that deliver savings through optimising specifications?A . Value engineeringB . Part substitutionC . BudgetlinkagesD . Compare total cost of ownershipE . Volume poolingView AnswerAnswer: A,B Explanation: If driving greater value...

Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.A . Cleaning servicesB . CoalC . Seniormanagement salaryD . Insurance for production linesE . Scrap metalF . Hourly production wagesView AnswerAnswer: B,E,F Explanation: Direct costs are those costs of a product/service...

A procurement professional is sourcing low value items. He conducts market analysis and realise that these items can be provided by many suppliers and switching cost between suppliersis relatively low. He also assume that the relationship between buyer and supplier will be transactional rather than long-term. According to Thomas-Kilmann conflict...

Which of the following best describes Leverage quadrant in Kraljicmatrix?A . Low risk, high importanceB . High value, high complexC . Low risk, low importanceD . High complex, low importanceView AnswerAnswer: A Explanation: In 1983, Peter Kraljic devised a means to segment the supplier base in the article in HBR....

One difference between perfect competition and monopolistic competition is that...?A . In perfect competition, firms produce slightly differentiated productsB . A perfectly competitive industry has fewer firms.C . Monopolistic competition has no barriers to entryD . Firms in monopolistic competition face a downward-sloping demand curveView AnswerAnswer: D Explanation: Monopolistic competition...

Which of the following are signs indicating that TOP is using coercive power in commercial negotiation? Select TWO that apply.A . Demonstrating fairness and respectB . Withdrawal of benefitsC . Use of guiltD . Technical expertiseE . Positive referencesView AnswerAnswer: B,C Explanation: Coercive power comes from the belief that a...

A supplier’s mark-up on all products is 25%. Supplier's profit margin is...?A . 20%B . 30%C . 75%D . 15%View AnswerAnswer: A Explanation: Table Description automatically generated with medium confidence Text Description automatically generated with low confidence LO 2, AC 2.1

When is the best time to adopt accommodating style according to Thomas-Kilmann conflict mode instrument?A . When both buyer and supplier want to find anintegrative solution as their concerns are too important to be compromisedB . When buyer needs to gather more information to gain more advantages in later negotiationsC...