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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Procurement Process and Procedures | 25-30% | - Purchase ordering and goods receipt - Contract award criteria - Supplier selection methods - Requirements gathering and specification - Procurement cycle stages |
| Topic 2: Practical Application Scenarios | 15-20% | - Problem-solving and decision-making - Case study analysis - Recommendation and justification skills - Applying theory to real-world procurement situations |
| Topic 3: Strategic Sourcing and Category Management | 20-25% | - Spend analysis techniques - Category segmentation - Supplier segmentation and criticality analysis - Strategic sourcing process |
| Topic 4: Supplier Relationship Management | 20-25% | - Supplier development and improvement - Supplier performance measurement (KPI, scorecards) - Partnership and collaboration models - Risk management in supplier relationships - Supplier relationship types |
| Topic 5: Ethical and Sustainable Procurement | 15-20% | - Ethical sourcing considerations - Modern slavery and fair trade - Supply chain transparency - Corporate Social Responsibility (CSR) - Environmental sustainability in procurement |
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NEW QUESTION # 42
Which Incoterm applies here?
The supplier is responsible for delivering the goods directly onto the vessel that will transport them to their named destination, covering the cost of both the transport and the insurance to cover this. Again, the supplier bears all risks until the goods are delivered to the buyer at their named place.
Answer: B
NEW QUESTION # 43
Explain how a lack of understanding of a global supplier's culture and ethical behavior could cost buying organization money.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Organizational culture is made up of behaviors, traits, values and beliefs and these differ signifi-cantly across the globe. Gestures that may be positive in one country can be highly offensive in another. This culture could mean; for example, individualistic/collectivistic, masculine/feminine, uncertainty avoidance, power distance, Time perspective, indulgence/restraint.
When negotiating and forming contracts within the extended supply chain, it is important that the culture of the suppliers is understood to be compatible with the buying organization or else their might be loss of reputation, time, money material and equipment.
Also, being not aware of what is an acceptable ethically behavior in global sourcing can cost a buying organization. In some countries, bribery and kickbacks are a standard part of doing business. If procurement professional is not aware of the fact that some countries methods of doing business involves or expect kickbacks, for example, this could be costly to the organization and cancel out any savings that had originally been seen.
Cost of poor quality and rework: if the product or service quality is poor the organization may not satisfy it customers and this can lead to a loss of reputation in the market. For example, a residential building construction company contracting a supplier that supply would require home owners to reinstall a new door within three months. The organization would spend more funds in carrying out rework.
More administrative cost in contract management: an organization will have to manage it sup-pliers and the contracts to ensure they are delivering what they were contracted to do. A poor con-tract management is a waste in the process of delivery that can lead to loss of money. Also, to cor-rect this would cost the organizations administrative cost.
NEW QUESTION # 44
What are five recognized types of modern slavery?
Answer:
Explanation:
Modern slavery is against ethical and responsible sourcing. Modern slavery is one of the areas to understudy for procurement professionals to carry out ethical and responsible sourcing and this is recognized in five ways.
1. Human trafficking: The process of seeking, recruiting, transporting and exploiting individuals to work against their will. Often human trafficking includes violence, deception, and coercion.
2. Bonded labour (debt bondage): This is an individual's promise to provide service through ex-ploitation as repayment, or part thereof, of a dept or other obligation.
3. Forced labour: Work that people are forced to do with the treat of punishment if it is not carried out.
4. Children labour: The exploitative and illegal employment of children.
5. Domestic slavery: Individuals exploited through working in private households for little or no money in return for living accommodation.
* Refer to the question column for response
NEW QUESTION # 45
What are the two types of damage clauses that can be created within a contract?
Answer:
Explanation:
Damages are 'sum of money that the supplier pays if it fails to carry out its contractual obligation. Damages are categorized into two types; liquidated and un-liquidated.
Liquidate Damages are fixed amount of money agreed between the parties that is payable if a contract is breached. For example, knowing that supplier not being able to install a device properly in a power transformer may destroy the device and going ahead to include a fee in the contract if the device was destroyed.
Un-liquidated damages are unfixed amount of money. It is used when the amount of money that will compensate the injured party cannot be known in advance. A court decides the amount when the damages occur. For example, knowing that supplier not being able to install a device properly in a power transformer may destroy the device, other appliances and equipment unknown, cause the buyer delay in the process and reputational damage as in customer dissatisfaction. Yet, unquantifiable as both party are unable to fix a fee in advance on the damages and leaving it to the court to decide the damage if it may occur.
NEW QUESTION # 46
Describe three benefits of working cross-functionally
Answer:
Explanation:
See the answer in explanation.
Explanation:
Working cross-functionally is the involvement of all departments involved in an organization to contribute knowledge, skills and innovation towards adding value of achieving the organization's strategic goal. All functions may include; procurement, maintenance, marketing, finance, human resources working together in procurement activity to come up with the best strategy or selecting the supplier that best suit the organization.
When working cross functionally, members of the organization gives support by believing in the end goal, assist during difficult time, help troubleshoot any issue, providing the required resources and sharing information.
NEW QUESTION # 47
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