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List the primary & secondary activities in Porter's Value Chain Model (1.3, Figure 4.1) - correct answer 'VC' Model depicts primary and secondary activiti... [Show More]
Brand - correct answer An organizations identity total cost approach - correct answer An approach that considers all the costs associated with procuri... [Show More]
Describe how a zero-based approach works. Method to identify how to simplify the parts structure in a range of products What impact does standardizat... [Show More]
Disclose Disclosing a conflict is an important first step. Distance Maintain distance by allocating ongoing relationship responsibility to ano... [Show More]
Procurement cycle 1-7 1. Define needs 2. Market analysis/commodity 3. Create Strategy 4. Pre-procurement 5. Prepare documents 6. Select supplier 7. ... [Show More]
Summary Offences - correct answer Can only be heard and decided by a Magistrate in Magistrates' Court. Less serious than indictable offences, penalties n... [Show More]
Analyze - correct answer Examine a topic together with thoughts and judgments about it, by dividing the topic into its separate parts and looking at each... [Show More]
Holiday Builders finishes construction on Garcia's home. Several years later, an improperly installed balcony collapses, injuring Garcia and several guests... [Show More]
Difference between Estimate, Quote and Tender (1.1, p. 2) - correct answer Estimate = has no legal standing, simply a 'best guess' by the supplier. *NOT a... [Show More]
artificial intelligence - correct answer Machines that display human-like intelligence Assets - correct answer resources owned by a business audit ... [Show More]
The Purchasing process - correct answer 1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Fol... [Show More]
Tender Process - correct answer Determine style of tender Prepare invitation -include info so all bidders understand the need and send a suitable bid Se... [Show More]
Types of Purchases new buy, straight rebuy, modified rebuy Straight rebuy purchase Routine purchases of the same products under approximately the sa... [Show More]
Re-buy - correct answer It is not necessary to specify a new specification or to source the market. Call-off or framework agreement. A preferred supplier ... [Show More]
Stakeholders - correct answer In any activity an organization undertakes, whether strategic, operational or tactical, the activity can only be successful ... [Show More]
What best describes a work order in CIPS? - correct answer An enhancement to a current capability What system must communication units use to request E... [Show More]
Super Skinny Serum (Paul Mitchell) - correct answer Cuts blow drying time up to 25% Smooths conditions and seals hair Keeps hair frizz free Apply to... [Show More]
motivation is defined as - correct answer a process that guides us toward a goal or behavior. According to psychologists, motivation involves which of ... [Show More]
Selection Criteria Examples - correct answer Quality assurance Environmental awareness + Sustainability Technical Capabilities System Capabilities Lab... [Show More]
Private incorporated companies are... - correct answer Seperate from their owners Private unincorporated companies have... - correct answer No legal d... [Show More]
Acceptance Testing - correct answer A form of testing used to determine if the requirements of a specification or contract are met Accrual - correct a... [Show More]
ABC Analysis - correct answer A technique used to categories suppliers into three groups of decreasing value. A Group - 10-15% of your suppliers, but 80... [Show More]
Ad-Hoc Purchase - correct answer An item bought for a single and non-recurring use or purpose Alternative Dispute Resolution (ADR) - correct answer An... [Show More]
O1. Outline FIVE differences between purchasing goods and purchasing services. - correct answer 1. Goods are tangible, services are intangible: 2. Servic... [Show More]
what are the stages of ordering? 1) user need 2) raise requisition 3) approved process 4) issue PO 5) receive goods/service 6) approve invoice ... [Show More]
Basic characteristics of an organizations - correct answer Structure Objectives People Fayols 5 functions of management - correct answer Planning ... [Show More]
Causes of Obsolescence - correct answer Technical Change Cultural Change Legislation 2D Barcode - correct answer Types of Stock - correct answe... [Show More]
Name all stages of the Procurement Cycle? - correct answer 1) understand need and develop a high-level specification 2) market/commodity options includin... [Show More]
What is Procurement? - correct answer Procurement is a STRATEGIC function of a business obtains something Tangible as goods or Intangible as services. Inc... [Show More]
Operations Management - correct answer The processes of managing the resources and processes involved in the acquisition and transformation of inputs and ... [Show More]
When should Competitive bidding not be used? - correct answer Where price cannot be establish with certainty Where price isn't the only variable Where t... [Show More]
Question: 1 The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct? - correct answer A. No, in ma... [Show More]
Fixed Cost (FC) - correct answer Costs that remain the same irrespective of business activity or volume Variable Cost (VC) - correct answer Costs that... [Show More]
When should Competitive biStage 13: Assets management/end of life - correct answer The procurement professional should evaluate whether the need is still ... [Show More]
Q1 (a) Define the term 'stakeholder' in relation to an organization. (5 marks) (b) Describe the interests of TWO internal stakeholders of the procurement... [Show More]
What is sourcing? - correct answer Sourcing is the location, acquisition and management of all the vital inputs required for an organization to operate. ... [Show More]
what is a business case? - correct answer a document that sets out the justification for undertaking a project on commercial grounds what is a straight... [Show More]
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