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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Supplier Relationship Management | 20-25% | - Risk management in supplier relationships - Supplier performance measurement (KPI, scorecards) - Supplier development and improvement - Supplier relationship types - Partnership and collaboration models |
| Topic 2: Procurement Process and Procedures | 25-30% | - Supplier selection methods - Requirements gathering and specification - Procurement cycle stages - Contract award criteria - Purchase ordering and goods receipt |
| Topic 3: Ethical and Sustainable Procurement | 15-20% | - Environmental sustainability in procurement - Modern slavery and fair trade - Supply chain transparency - Corporate Social Responsibility (CSR) - Ethical sourcing considerations |
| Topic 4: Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Spend analysis techniques - Supplier segmentation and criticality analysis - Category segmentation |
| Topic 5: Practical Application Scenarios | 15-20% | - Recommendation and justification skills - Case study analysis - Problem-solving and decision-making - Applying theory to real-world procurement situations |
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NEW QUESTION # 192
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.
* Refer to the question column for response
NEW QUESTION # 193
Which Incoterm applies here?
The supplier is responsible for delivering the goods to a point alongside a water vessel (such as a dock or quay) as determined by the buyer at a named port. Once delivered, all risk is transferred to the buyer until the goods are transported and delivered to their name destination.
Answer: A
NEW QUESTION # 194
What are advantages and disadvantages of the two types of specifications?
Answer:
Explanation:
Ones the need is understood, the procurement professional develops the specifications while working together with stakeholders and colleagues to ensure that the final design is fit for purposes that it meets the generated need.
Specification can be focus on performance or conformance.
Performance specification states what the product or service must do or how it should perform but leave the supplier the freedom to achieve this, however they wish.
Performance specification brings the following advantages; it allows supplier innovation, promote competition in the market place, shorter document, quick to prepare. The disadvantage of perfor-mance specification is that buyers may not know exactly what they will be getting.
Conformance specification gives clear instructions to the supplier about what is required and how it should be achieved. Examples of conformance specifications are chemical formulae, recipes and technical drawings.
Conformance specification specifies which standards a requirement must meet or exceed. The advantage of using it is; buyers know exactly what they will get. It has the following disadvantages; the buyer bears the risk, it does not encourage supplier to innovate, take longer and complex documentation.
* Refer to the question column for response
NEW QUESTION # 195
Describe two ways in which an organization with which you are familiar could use continuous im-provement as part of whole life asset management.
Answer:
Explanation:
Continuous improvement relates to removing waste from the supply chain and improving processes to increase efficiency within whole life asset management in a full power project (a flour producing firm) can benefit from continuous improvement in the following ways;
1) Reduce cost of spears by recondition parts, instead of disposing them out rightly.
2) Can reduce down time by conducting routine maintenance after hours.
3) Can reducing accident by up skilling operators on safety
4) Can reduce waste oil by following owner's manual instead of relying on experience.
5) Create efficiencies by operating a 24/7 shift pattern.
* Refer to the question column for response
NEW QUESTION # 196
Using the case study about Toyata, which type of benchmarking Tada has used when comparing the Toyata with Porsche?
Answer:
Explanation:
Benchmarking is the process of comparing a function, process or performance with another which is best-in-class. Benchmarking is either internal or external. External benchmarking has three types; 1) Competition benchmarking, 2) Functional 3) Generic Company Toyota with the Porsche a competition in the same industry and by suggesting that drives will find the cars performances comparable with that of Porsche Cayman sports car, suggest think it is an external competitive benchmark.
NEW QUESTION # 197
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