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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Ethical and Sustainable Procurement | 15-20% | - Modern slavery and fair trade - Ethical sourcing considerations - Environmental sustainability in procurement - Corporate Social Responsibility (CSR) - Supply chain transparency |
| Topic 2: Procurement Process and Procedures | 25-30% | - Procurement cycle stages - Purchase ordering and goods receipt - Requirements gathering and specification - Contract award criteria - Supplier selection methods |
| Topic 3: Practical Application Scenarios | 15-20% | - Recommendation and justification skills - Applying theory to real-world procurement situations - Problem-solving and decision-making - Case study analysis |
| Topic 4: Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Spend analysis techniques - Category segmentation - Supplier segmentation and criticality analysis |
| Topic 5: Supplier Relationship Management | 20-25% | - Supplier relationship types - Supplier development and improvement - Partnership and collaboration models - Supplier performance measurement (KPI, scorecards) - Risk management in supplier relationships |
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NEW QUESTION # 68
What happens in the public sector, regarding providing feedback?
Answer:
Explanation:
See the answer in explanation.
Explanation:
A sector is an area of an industry, e.g., private, public or third sector.
A public sector is a sector of the economy that is owned, finance and run by the government. This sector is financed with tax payer's money. And therefore owe the general public an ethical explanation towards all investment and decision.
Once the supplier that is awarded the contract has accepted, the buyer can tell the unsuccessful bidders. This usually happens through email or letter. The public sector is more likely to give feedback to unsuccessful bidders and also have to respond to any stakeholders that request information on why a supplier is not successful.
NEW QUESTION # 69
Justify which of the five approaches to condition performance monitoring you think is the most cost effective within whole life asset management.
Answer:
Explanation:
Condition performance monitoring is a surveillance system that is designed to get the maximum production uptime and availability out of an asset. And this can be achieved by timely monitoring and measuring of temperature, vibration, output, speed, noise, emissions and quality. With this, decision has to be made as to what, if any, action needs to be taken. The five approaches to condition performance monitoring are as follows:
1. Do nothing: Use like a commodity. This will bring worries later.
2. Reactive: Fix it when it breaks. This will run to failure.
3. Preventive: Scheduled maintenance.
4. Predictive: Fix it before it breaks. Predict faults.
5. Proactive: Continuous improvement defect elimination.
The most cost-effective approach is 'Proactive', because is the only approach that has continuous improvement in the process, people and policies to minimize downtime. Being proactive takes defect out f the system and continuously harness opportunity that will optimize the system
* Refer to the question column for response
NEW QUESTION # 70
Use the balance sheet below to work out the correct ratio for coffee Time and explain whether the company appears to have enough assets to cover it liability.
Answer:
Explanation:
A current ratio of 1 shows that the organization has enough assets to repay (cover) it liability Buyers can be encouraged to deal with these suppliers after if they considered proven and strong in other areas.
Refer to the question column for response
NEW QUESTION # 71
Explain how influencing, can relate to corruption within procurement.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Influencing is the capacity to be able to change behavior or opinions, either consciously or subconsciously.
As outlined by Yukl and falbets work from 1990 influencing can relate to corruption within pro-curement in these six ways.
1)A party can be assertive (forceful, directive, using deadlines),
2) Ingratiating i.e. using charm and flattery.
3) Exchange-Trading favors,
4) Upward appeal (requesting input for senior management not only that influencing can come as
5) Coalition; team members uniting for support.
5) Rational persuasion, i.e. bringing in logic and facts for clarification.
NEW QUESTION # 72
How can procurement professionals select suppliers?
Answer:
Explanation:
During the sourcing stage of the procurement cycle, the procurement professional needs to identify and select suppliers to fulfill the business needs. Supplier selection involves evaluating suppliers against predetermine criteria to assess their suitability in working with the buying organization. Suppliers can be evaluated according to Carter's 10Cs which are as follows: (1) Competency (2) capacity (3) consistency (4) control (5) cost (6) commitment (7) cash (8) Clean (9) culture (10) communication.
Procurement professionals can decide to evaluate and select suppliers based on the overall strategy and the business objectives. After that, it most suitable suppliers receive the documentation (Invitation to tender/ request for quotation).
* Refer to the question column for response
NEW QUESTION # 73
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