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| Section | Weight | Objectives |
|---|---|---|
| Practical Application Scenarios | 15-20% | - Problem-solving and decision-making - Case study analysis - Applying theory to real-world procurement situations - Recommendation and justification skills |
| Strategic Sourcing and Category Management | 20-25% | - Spend analysis techniques - Supplier segmentation and criticality analysis - Strategic sourcing process - Category segmentation |
| Procurement Process and Procedures | 25-30% | - Contract award criteria - Purchase ordering and goods receipt - Procurement cycle stages - Requirements gathering and specification - Supplier selection methods |
| Ethical and Sustainable Procurement | 15-20% | - Modern slavery and fair trade - Corporate Social Responsibility (CSR) - Ethical sourcing considerations - Environmental sustainability in procurement - Supply chain transparency |
| Supplier Relationship Management | 20-25% | - Partnership and collaboration models - Risk management in supplier relationships - Supplier development and improvement - Supplier performance measurement (KPI, scorecards) - Supplier relationship types |
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NEW QUESTION # 39
Which products or services should not be considered for outsourcing, according to Carter's out-sourcing matrix
Answer:
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 # 40
The supplier is responsible for delivering the goods to a named port or destination (such as an air-port or warehouse), as well as unloading them from the terminal from this point, risk passes to the buyer.
Answer: B
NEW QUESTION # 41
What is depreciation and deterioration?
Answer:
Explanation:
See the answer in explanation.
Explanation:
When an organization want to purchase an asset, it considers the depreciation and deterioration in the whole life of the asset and how it will be manage.
Depreciation is the reduction in value of a tangible and a fixed asset over time. The purpose of calculating the depreciation of the asset is to give the organization a fair and current view of what the asset is worth at a particular time. Depreciation is a way of converting the cost of an asset into an expense over a period of time.
Depreciation is a permanent feature listed against an asset throughout its life time and it based on wear and tear, reduction in performance and reduction in value.
Deterioration is the process of something becoming lower in quality or performance. The longer the asset can last without deteriorating the better value the asset represents.
* Refer to the question column for response
NEW QUESTION # 42
Describe one implied term and one expressed term from a contract with which you are familiar.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Terms are the right and duties agreed between parties which are then documented in contract. Terms can be implied or expressed.
Implied terms are always present in a contract and are set by national laws; implied terms do not have to be written or verbally agreed : they always exist, for example sales of Gods Act, good being fit for purpose, Negligence, confidence, whereas expressed terms are negotiated and agreed rather than being automatically included, express terms are agreed between, parties negotiating the contract. For example; payment terms, specification, delivery detail and quantities
NEW QUESTION # 43
Explain with examples three differences between offers and invitation to treat.
Answer:
Explanation:
See the answer in explanation.
Explanation:
An offer is created when one party communicates to another or to multiple parties that they wish to enter into a legal binding agreement in accordance with the terms stated, for example; a company in promotion advertising for buyers to buy one and get one free, an offer is a buying organization communicating to a supplier to supply X number of goods and be paid x amount upon delivery at company premises, an offer is when a football club proposes to pay X amount to a player if agrees to play for them for a month. An offer can be legally banded if accepted, whereas invitation to treat does not. An invitation to treat is just an invitation from one party to another to begin negotiations with the intention of creating an offer. If an offer is made without stating terms, this becomes an invitation to treat, for example, an invitation to treat is when a pharmacy displays a drug in its shelf. An invitation to treat can be linked to a request a buyer send to suppliers asking them for specific information.
NEW QUESTION # 44
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