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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Procurement Process and Procedures | 25-30% | - Procurement cycle stages - Purchase ordering and goods receipt - Supplier selection methods - Requirements gathering and specification - Contract award criteria |
| Topic 2: Strategic Sourcing and Category Management | 20-25% | - Spend analysis techniques - Supplier segmentation and criticality analysis - Category segmentation - Strategic sourcing process |
| Topic 3: Supplier Relationship Management | 20-25% | - Supplier performance measurement (KPI, scorecards) - Supplier development and improvement - Risk management in supplier relationships - Partnership and collaboration models - Supplier relationship types |
| Topic 4: Practical Application Scenarios | 15-20% | - Problem-solving and decision-making - Case study analysis - Applying theory to real-world procurement situations - Recommendation and justification skills |
| Topic 5: Ethical and Sustainable Procurement | 15-20% | - Supply chain transparency - Modern slavery and fair trade - Environmental sustainability in procurement - Corporate Social Responsibility (CSR) - Ethical sourcing considerations |
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NEW QUESTION # 129
What matrix helps to define how to manage stakeholders?
Answer:
Explanation:
Stakeholders are individuals or organizations who are directly affected by a decision for example, community, shareholders, employees, suppliers, distributors, customers etc. stakeholders can be internal (employers, staffs), connected (such as suppliers, shareholders, financers and customers) external (Government, pressure groups, and community).
The matrix that helps define how to manage stakeholders is mendelow's stakeholders manage-ment matrix. This matrix is based on the theory that the level of management stakeholders require depends on the level of their power and interest within the project or organization The matrix groups stakeholders in to four quadrants according to their power and interest and ad-vice how to manage them.
1) Low power - Low interest (minimum effort)
2) Low power - High interest (keep inform)
3) High power - Low interest (keep satisfied)
4) High power - high interest (manage closely)
NEW QUESTION # 130
What are the two options for the disposal of an asset if resale is not possible?
Answer:
Explanation:
Disposal of an asset is the final stage in the decommissioning process of a fixed asset.
When a fixed asset reaches the end of its useful or cost effective life time within an organization, the decision is made as to whether it should be removed from the premises or disposed off.
If the asset is truly at the end of its life, no longer fit for purpose, not cost effective to repair and is not able to be exchanged, then disposal is the only option; there are two options for disposal;
1) Take the asset to land fill site
2) Taking the asset to a recycling plant.
* Refer to the question column for response
NEW QUESTION # 131
Which products or services should not be considered for outsourcing, according to Carter's out-sourcing matrix
Answer:
Explanation:
See the answer in explanation.
Explanation:
Carters outsource matrix is a useful tool that procurement professionals uses to decide which products or services has a high or low contribution to the organization operation performance and its strategic importance.
The matrix segments products/services into four quadrants. These are Eliminate, outsource, strategic alliance and retain.
According to Carters outsource matrix, all product/services that has a high strategic importance should not be outsourced. They should rather be retained in house or carefully chose suitable sup-pliers and go into strategic alliance.
NEW QUESTION # 132
What topics are covered within ethics?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Topics that are covered within ethics are;
1. Environmental factors
2. The triple bottom line: profit, people and planet
3. Adopting sustainable practice.
4. considering the social impact of organization's behaviors
NEW QUESTION # 133
Which contract term contains details of when a product or service should be delivered and ex-plained the potential loss of business?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Contract terms are the right and duties agreed between parties with which are then documented in contract.
Terms can be either implied or expression.
Implied terms are always present in a contract and are set by national laws; like the sales of goods act, whereas express terms are negotiated and created, for example; time is of the essence. When the procurement professional is setting key performance indicators, where which the supplier's performance will be monitored and managed, the KPI is expected to be SMART. The SMART is an acronym that is used to set KPI and specification. It means:
Specific
Measurable
Achievable
Relevant
Time bound
NEW QUESTION # 134
......
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