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| Section | Weight | Objectives |
|---|---|---|
| Strategic Sourcing and Category Management | 20-25% | - Spend analysis techniques - Category segmentation - Supplier segmentation and criticality analysis - Strategic sourcing process |
| Supplier Relationship Management | 20-25% | - Supplier performance measurement (KPI, scorecards) - Risk management in supplier relationships - Supplier development and improvement - Partnership and collaboration models - Supplier relationship types |
| Procurement Process and Procedures | 25-30% | - Supplier selection methods - Procurement cycle stages - Contract award criteria - Purchase ordering and goods receipt - Requirements gathering and specification |
| Practical Application Scenarios | 15-20% | - Recommendation and justification skills - Case study analysis - Problem-solving and decision-making - Applying theory to real-world procurement situations |
| Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Ethical sourcing considerations - Modern slavery and fair trade - Environmental sustainability in procurement - Supply chain transparency |
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NEW QUESTION # 125
Explain which company you would award the contract to base on the weighted score card in table below.
Answer:
Explanation:
A weighted score card is a tool with a systematic and a fair process for selecting supplier, based on predetermined criteri a. This tool can help make the decision by presenting a fair display of how all suppliers did in the process. The values of these weights are based on their importance. The supplier with the highest score card is considered the most suitable to be awarded the contract.
In the table above, cost is considered more than all other criteria. Contract length is the lowest which is weighted 2 Base on the weighted score card as presented above, company B scored 78 while company A and company C scored 65 and 63 respectively.
Company A, having scored the highest (78) should be awarded the contract.
*
Refer to the question column for response
NEW QUESTION # 126
Research the ethical standard or accreditations of an industry with which you are familiar
Answer:
Explanation:
See the answer in explanation.
Explanation:
If a supplier is accredited or is a member of an association that promotes good ethical conduct, a statement to this effect is likely to be featured on its company documentation. This could be in a form of letters after the organization name or the authorized use of logo.
Accreditation information should be verified by procurement professionals either asking organiza-tion for certification to prove membership or accreditation or checking on a professional register.
Below are associated bodies that form some industries.
1. ISO 14001 - for quality management
2. CIPS - for procurement and Supply
3. Red Tractor - NGO Registered in the UK, promoting human right
4. Amnesty International - human right
5. Carbon Trust - For Carbon neutral status.
NEW QUESTION # 127
Explain why you think quality should be investigated before working with potential supplier?
Answer:
Explanation:
Quality is fitness for purpose. It is important that quality is investigated by procurement professionals before forming relationship with potential supplies.
If quality is not investigated before selecting supplier the organization might stand the risk of facing the following disadvantages; Reputational Damages Cost of Rework Cost of Downtime Cost of Material Cost of being stocked with the wrong supplier Cost of being stocked in a project that may not come to an end at the forecasted time.
How buyer can choose a supplier with a good quality culture is first by defining the quality of the product or services to be carried out .Having knowledge of the product or service quality, supplies can rightly select and evaluated supplier with total quality management (TQM) in their system, ISO 9001 accreditation. TQM includes everyone in the organization with knowledge on the required quality; there would be little or no rejection/reworks. Thus is an added value to the organization.
* Refer to the question column for response
NEW QUESTION # 128
What effect is technology having on jobs within an organization with which you are familiar with?
Answer:
Explanation:
See the answer in explanation.
Explanation:
With the ever developing use of technology, organizations are often under pressure to keep up with numerous technological advances. Jobs could be created in line with technology. Advances in technology can also results in lack of requirement for human impact and as such, jobs could be lost. Though it can help save time and retain bulk files in no space.
NEW QUESTION # 129
When should whole life asset management be applied?
Answer:
Explanation:
When organization has made the decision about which option is best for sourcing the asset, it can then begin to work on the whole life asset management strategy.
Whole life asset management is the process of evaluating the total price and all associated costs of a product to make an informed decision as to which option will provide the organization with the best value for money.
This strategy is only under taken for large-value procurements because; 1) It takes considerable time (2) It involves many stakeholders and require numerous resources; If whole life asset management were conducted on every purchase it would not create value for the organization and that may tie up valuable resources.
NEW QUESTION # 130
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