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| Section | Objectives |
|---|---|
| Topic 1: Contracting and Legal Principles | - Contract formation
|
| Topic 2: Procurement Process and Sourcing | - Sourcing strategies
|
| Topic 3: Risk, Ethics and Sustainability | - Ethical and sustainable procurement
|
| Topic 4: Procurement Technology and Innovation | - Digital procurement tools
|
| Topic 5: Supplier Relationships and Performance | - Performance improvement
|
| Topic 6: Procurement and Supply Context | - Role of procurement in organisations
|
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NEW QUESTION # 196
Describe the seven stages of the Tender Process and explain the reasons why the stages must be followed.
Answer:
Explanation:
See the answer in explanation.
Explanation:
The purpose of the tendering process is to invite potential suppliers to bid to supply a product or service to the buying organization. Then buying organization select suitable suppliers, award con-tract and manage. The process is selected mostly when the need is a large or complex project or the law mandates it or it is in the company's policies to do so. The stages of the tendering process includes; Stage 1: decide which style of tender to use. There are four types of tendering used within pro-curement and this include; 1) open 2) Restricted 3) Negotiated 4) Competitive Dialogue Stage 2: Prepare invitation to tender (ITT): this stage is to prepare the document that will be made available to potential supplier. It should contain everything potential bidders will need to know to fully understand the need and to prepare and send a suitable RESPONSE it may likely in-clude; open letter, company details, overview of a project, evaluation criteria, submission date and so on.
Stage 3: send ITT: With fairness, transparency and equality, buyer will provide the documents to all potential suppliers at the same time and also provide exactly the same information/documents to all suppliers. If after receiving the ITT and some suppliers seek clarifications on anything in the documentation, buyers must give same response to identical questions to keep the process transparent and fair. Also, the response to each query to all bidders in the process.
Failure to this may result in bidders who feel disadvantaged or discriminated in any form to submit a legal challenge. Supplier submitting a Legal challenge may cause delay in the process and eventually increase administrative cost for the buyer.
Stage 4: Buying organization receives responses to the Invitation to tender from suppliers (bids). Suppliers must adhere to the bid submission dead line included in the invitation to tender document. Any bid that arrives after the deadline must be left out of the process, or else this may result to other suppliers legally challenging the process.
Stage 5: Evaluate bid. The buying organization can now evaluate the bids based on the criteria in the ITT document. It is always thorough that cross-functional team evaluates the bids to guarantee complete fairness and ensure that the chosen bid is fit for purpose. In evaluating the bids, the cross-functional team will consider the bids in the following areas; supplier organization, ethics, price, sustainability, quality, payment, disposal, service level, location, warranty and risk.
Stage 6: Award contract and give feedback hence the buying organization wards the contract to the winning supplier. This can take place by a formal communication like a letter or an e-mail.
Stage 7: Contract management. Contracts must be evaluated against the criteria in the invitation to tender.
The reasons why these stages must be followed includes;
1. Knowing the right TYPE of tender to use, reduces administration cost, for example, deciding to do restricted tendering to reduce the interest that are going to be sent in have already cut down on administrative cost.
2. The supplier can know what exactly the buyer's intentions are by developing description and the required specification.
3. To ensure that objectives of resorting to use the tendering style and the tendering process is achieved
4. To ensure that the organization generates added value by going through the stages.
5. To ensure that there are none unethical issues like fraud, bribes etc are not part of the system.
6. To ensure that the tendering process becomes transparent to all suppliers. These stages must be followed for transparency and fairness. Just like in stage 3: buyer send out the ITT to potential suppliers at the same time and providing them same information. Failure to this and bidders who feel disadvantaged or discriminated in any form may submit a legal challenge. Supplier submitting a Legal challenge may cause delay in the process and eventually increase administrative cost for the buyer.
NEW QUESTION # 197
What is the retention of title clause also known as?
Answer:
Explanation:
Retention of title (ROT) states when ownership transfers from supplier to buyer.
The retention of title terms also referred to as the Romalpa clause, which is related to a legal case from 1976 between Aluminum industries Vaassen BV and Romalpa Aluminum LTD
NEW QUESTION # 198
In relation to the case study 'Walmart and H & M in spotlight regarding human rights in media ex-plain which human rights are not being granted to the workers.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Human rights are the statutory ways in which individual expects to and should be treated. Ethical and responsible sourcing includes the protection of human rights, not violating it.
When young women are being bound into contracts where they work for two to three years, they are not being granted the right to freedom from slavery.
Forcing these women to live in hostels under restrictions that prevent them from moving and are denied the opportunity to improve on their living condition is a violation of their right to life, liberty and personal security, also, their freedom from torture and degrading treatment is being violated.
* Refer to the question column for response
Case Study
A series of news stories reporting events such as the collapse of the Rana Plaza building in 2013 have drawn attention to the poor conditions in garment factories across India and South East Asia. Human rights groups have long be critical of the excessive hours and poor wages workers are forced to endure, as well as the abuse they receive from supervisor. With consumers becoming increasingly aware of these conditions, more pressure is being put on global brands and retailers to ensure their supply chains are fair and ethical.
Certain areas have been notorious for the mistreatment of workers. In India's textile valley', young women are been bound into contracts where they work for two to three years, in exchange for a lump sum of money that they can then put towards a dowry. This is known as the 'Sumangali [a married woman] Thittam' scheme. These women are forced to live in hostels under restrictions that prevent them from moving, and are denied the opportunity to improve their living conditions. Retailers including Walmart and H & M are known to source garments from factories in the 'textile valley'.
Reports by organizations including the Asia Floor Wage Alliance (AFWA), Central Combodia, Global Labor Justice, Sedane Labour Resource Centre (LIPS) Indonesia, and Society for Labour and Development (SLD) India have exposed unethically run factories that supply garments to H & M, Gap and Walmart. However, retailers will continue to benefit from expensive labour until mounting customers pressure causes them to change.
NEW QUESTION # 199
Looking at stage 8 of the procurement and supply cycle, what does TCA mean?
Answer:
Explanation:
See the answer in explanation.
Explanation:
When evaluating offers, it is important to remember that the best price may not be the lowest. To ascertain that; the total cost of Acquisition TCA (the cost a buyer bears for placing orders and re-ceiving a product from a supplier) should be uncovered and compare against offers received. Things to consider that might make up the total cost of acquisition are;
1) logistics and handling costs
2) Cost of requisition
3) Rework
4) stock cost
5) Delay
6) Inspection
7) customer services
8) consumables
9) Training & support
* Refer to the question column for response
NEW QUESTION # 200
Explain which factors should be considered when deciding the quantity of a product to order.
Answer:
Explanation:
See the answer in explanation.
Explanation:
When reviewing supplier's response the procurement professional should consider the right quantity of product or service that has to be ordered at anytime as against the price to decide how to gain the best cost.
Factors to consider include the following
(1)Cost of inventory
(2) cost of insurance
(3) cost of transportation.
These three should be considered against price.
Note: Incoterms are versatile and procurement professionals should understand how they are ap-plied and what point the risk transfers from being the supplier's responsibility to being the buyer's responsibility. It is important to consult the ICC for the most recent definitions, but in the following questions (101-111) you can understand the rules.
Note: sharpen your knowledge on INCOTERMS. Please consider the following Objective Re-sponse questions
NEW QUESTION # 201
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