Selection Criteria Examples - correct answer Quality assurance
Environmental awareness + Sustainability
Technical Capabilities
System
... [Show More] Capabilities
Labor Standards
Financial Capabilities
Credit rating scores
Selection criteria - correct answer The minimum requirements or standards that bidders must meet in order to progress further in the procurement exercise.
Carters 10 C's - correct answer Communication
Culture
Consistency
Competency
Clean
Cash
Cost
Commitment
Control
Capacity
OECD - correct answer Organisation for Economic Co-operation and Development
Organisation for Economic Co-operation and Development - correct answer Regulates international tax law
Kazien - correct answer Japanese philosophy that focuses on continuous improvement - eliminating waste during the process.
TIM WOOD - correct answer Acronym used to remember the seven wastes (Transportation, Inventory, Movement, Waiting, Overprocessing, Overproduction, Defects).
ISO 9001 - correct answer ISO standard related to Quality management
TQM (Total Quality Management) - correct answer A philosophy that involves everyone in an organisation in a continual effort to improve quality and achieve customer satisfaction.
continuous improvement - correct answer 1. Identify
2. Plan
3.Execute
4. Review
CSR policy - correct answer The responsibility of an organisation to act favourably towards the environment, contribute to the community and behave ethically
Is there a legal responsibility to have a CSR policy? - correct answer There is no legal requirement to produce or have a CSR policy but it does represent good practice in the industry
CSR with suppliers - correct answer A procurement professional will seek to choose suppliers that show the following behaviours:
1. Contribute positively to the environment
2. Do not pollute the atmosphere
3. Replace any natural resources they use within their supply chain
4.Giving something back to the community where they are located.
Technical capabilities - correct answer A potential supplier must have the technical capabilities to manage the contract
How can you assess a suppliers capabilities? - correct answer Procurement professionals should request samples to ensure they meet specifications.
There should be compatibility between the buying organisation's systems and those of the suppliers
The machinery leased or owned by the supplier must be technically capable of producing the volumes and batch sizes required.
Labour standards - correct answer Measures that protect workers
Modern Slavery - correct answer Individuals being forced to work for little or no pay, or humans who are trafficked to work in foreign countries
International labour organisation - correct answer A member organisation of the United Nations that collects statistics on labour market conditions and seeks to improve working conditions
Financial capabilities and Credit Rating scores - correct answer An essential element of the selection criteria is the check on the potential suppliers financial stability.
Credit check - correct answer A check on the financial status of a business or individual to ensure that the business or the individual has a reliable credit history and does not have any existing outstanding debts
Due diligence - correct answer Appraising a supplier to ensure that is is a suitable match for an organisation.
Cash Flow - correct answer The money moved in and out of an organisation
Profitability - correct answer The organisations revenue minus its total costs [Show Less]