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| Section | Objectives |
|---|---|
| Topic 1: Supplier Relationships and Performance | - Supplier relationship management
|
| Topic 2: Contracting and Legal Principles | - Contract formation
|
| Topic 3: Risk, Ethics and Sustainability | - Ethical and sustainable procurement
|
| Topic 4: Procurement Technology and Innovation | - Digital procurement tools
|
| Topic 5: Procurement and Supply Context | - External business environment
|
| Topic 6: Procurement Process and Sourcing | - Sourcing strategies
|
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NEW QUESTION # 35
Research the values and ethical code of practice of an organization with which you are familiar.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Fullpower projects is a training firm that trains on project management and procurement. It has the following values and ethical code of practice
1) Accountability
2) selflessness
3) openness
4) integrity
5) objectives
6) Honesty
7) Leadership
NEW QUESTION # 36
Research the ethical standard or accreditation of an industry with which you are familiar.
Answer:
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.
* Refer to the question column for response
NEW QUESTION # 37
What happens in the public sector, regarding providing feedback?
Answer:
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.
* Refer to the question column for response
NEW QUESTION # 38
What is business case?
Answer:
Explanation:
A business case is a document containing the justification and the commercial benefits achievable for a potential project or an identified need, for example, the purchase of a capital equipment, con-struction of an additional warehouse or procuring more innovative software to replace the current on in use.
The essence of the business case is to obtain support and get buy-in from senior management.
In order to gain authority to apply whole life asset management a business case will need to be created and presented. A developed business case will cover the following element.
1) Introduction: Outline of what the business case is all about
2) Objective: Explanation of what the business case desired outcome is.
3) Approach that will be undertaken
4) List of resources required
5) Benefits of achieving the objective
NEW QUESTION # 39
What is commissioning?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Commissioning is bringing something new into working condition, e.g start running a gas plant after building it. Commissioning is one of the eight elements that form the cycle of whole life asset management. The commissioning of an asset has the following associated costs, installation, training insurance, testing, operational efficiencies/performance and quality.
NEW QUESTION # 40
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