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| Section | Objectives |
|---|---|
| Understand the key processes that can be applied to the analysis of potential external suppliers | - Financial analysis of suppliers - Supplier appraisal and evaluation methods - Supplier audits and due diligence - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Risk assessment in supplier selection |
| Understand compliance issues when sourcing from suppliers | - Global sourcing considerations and Incoterms - Anti-bribery and anti-corruption measures - Sustainability and environmental considerations - Ethical sourcing and corporate social responsibility (CSR) - Codes of conduct and ethical standards - Regulatory and legal compliance - Modern slavery and human rights in supply chains |
| Understand options for sourcing of requirements from suppliers | - Factors influencing sourcing decisions - Single, dual and multiple sourcing - Insourcing vs outsourcing decisions - Sourcing strategies and approaches |
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NEW QUESTION # 280
Commodities can be traded on a stock exchange and are generally divided into one of four categories. Which of the following is not one of these four categories?
Answer: A
Explanation:
Plastic is not a commodity. A commodity is something that is naturally occurring and plastic is manufactured.
The other category of commodity is agriculture.
NEW QUESTION # 281
The procurement manager has received the following data from the supplier's accounts to facilitate the calculation of the supplier's current ratio:
Current Assets: Stock $200; Debtors $60; Cash $40; Total $300
Short Term Liabilities: Bank overdraft $150
Which calculation will the procurement manager use to find out the current ratio?
Answer: B
Explanation:
The current ratio is calculated by dividing total current assets by total current liabilities. Here, dividing $300 by $150 gives a current ratio of 2.0, indicating that the supplier has adequate current assets to cover its short- term obligations, an important factor in supplier evaluation.
NEW QUESTION # 282
The bill of lading is one of the main documents associated with sea freight within international sourcing.
Which of the following statements represent some of the uses of the bill of lading? Select TWO that apply.
Answer: C,E
Explanation:
The bill of lading serves as both a receipt of goods and a document of title, which means it confirms the contract of carriage and can transfer ownership. Responsible sourcing in international trade requires precise documentation, which is why the bill of lading is critical in verifying both carriage and title.
NEW QUESTION # 283
When looking at credit scores, a supplier may be classified as a high risk for reasons that are not linked to poor credit. Which of the following could these be? Select TWO
Answer: A,D
Explanation:
New organisations or those with no loans/ credit cards may have low credit scores. This is simply because they do not have enough financial history to make their scores good. That means banks au-tomatically class them as higher risk, because they simply don't know that they're trustworthy yet.
NEW QUESTION # 284
Ji Yuan is a procurement manager who is looking for a new supplier to complete reactive maintenance activities throughout his property portfolio. The reactive maintenance will include an array of plumbing tasks as well as fixing electrical items. Suppliers therefore need to be extremely skilled and knowledgeable about a variety of tasks. Ji Yuan has done some initial research and doesn't believe that there are many suppliers who can complete this type of contract. What type of tender should he use?
Answer: B
Explanation:
Open tenders should be used when the buyer expects there to be little interest / fewer bids. The opportunity is advertised widely allowing any supplier that wishes to submit a bid the opportunity.
The other options limit the number of suppliers and Ji Yuan doesn't want to do that, because he risks getting no interest and no supplier.
P.23
NEW QUESTION # 285
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