what is a business case? - correct answer a document that sets out the justification for undertaking a project on commercial grounds
what is a
... [Show More] straight re-buy? - correct answer the purchase of an item that was purchased last time there was a need rather than considering an alternative
what is a modified re-buy? - correct answer the purchase of an item that was purchased last time there was a need, but with changes to the specification or supplier
what is a new purchase? - correct answer the purchase of an item for the first time
what is an approved supplier list? - correct answer a list of approved suppliers who have the skills to undertake the work
what is a call off? - correct answer the purchase of an item using a framework agreement that has already been through a procurement process
what is a framework agreement? - correct answer an agreement that sets out the terms and conditions under which a call off can be made
what are some examples of a straight re-buy? - correct answer - maintenance, repair and operational items
- utilities such as gas, water and electricity
- raw materials such as steel and bulk chemicals
what are some examples of a modified re-buy? - correct answer - components are production
- consulting services using a consultancy that the organisation has used before but with a new brief
- software bought on the basis of a number of users
what are the tasks in a new purchase? - correct answer - understanding the business requirement
- writing an effective specification for what is needed
- researching the supply market
- researching key suppliers in that market
- deciding on the key capabilities that suppliers must have
- writing invitation to tender documentation
- managing the tender process
- negotiating
- selecting the supplier
how would you identify business needs? (RAQSCI) - correct answer 1) regulatory - legal requirements
2) availability - supply of goods when required
3) quality - fit for purpose
4) service requirements - the way services are supplied
5) cost - should only be considered after the other factors have been met
6) innovation - improving customers experience
what is total cost of ownership? - correct answer the sum of all the costs of acquiring, using, maintaining and disposing of an asset over its expected lifetime
what are benchmarked prices? - correct answer the price paid for a product or service either in the past or by other users in order to set a standard for future reference
what should you consider when defining business requirements? - correct answer - collect information relating to the organisations desired future state
- categorise all potential stakeholders
- identify individuals who contribute to the acquisition, manufacture or use or the product/service
- on completion, the analysis should be summarised and shared with all the stakeholders [Show Less]