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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Supplier Relationship Management | 20-25% | - Partnership and collaboration models - Supplier performance measurement (KPI, scorecards) - Risk management in supplier relationships - Supplier relationship types - Supplier development and improvement |
| Topic 2: Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Category segmentation - Supplier segmentation and criticality analysis - Spend analysis techniques |
| Topic 3: Procurement Process and Procedures | 25-30% | - Contract award criteria - Procurement cycle stages - Purchase ordering and goods receipt - Requirements gathering and specification - Supplier selection methods |
| Topic 4: Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Environmental sustainability in procurement - Ethical sourcing considerations - Modern slavery and fair trade - Supply chain transparency |
| Topic 5: Practical Application Scenarios | 15-20% | - Recommendation and justification skills - Case study analysis - Applying theory to real-world procurement situations - Problem-solving and decision-making |
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NEW QUESTION # 183
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 # 184
Explain why you think quality should be investigated before working with potential supplier?
Answer:
Explanation:
See the answer in explanation.
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.
NEW QUESTION # 185
Describe one implied term and one expressed term from a contract with which you are familiar.
Answer:
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 details and quantities.
NEW QUESTION # 186
Describe two negative factors associated with ordering excess inventory.
Answer:
Explanation:
In the decision to not run out of supplies, organizations can anticipate a peak were by it products will be in a high demand or a period of scarcity of raw materials and may want to increase the in-ventory. However, if this forecast is not accurate, it may lead the organization to holding excess inventory. This can expose the organization to some negative factors.
Acquisition Cost: The organization will incur an acquisition cost for the excess inventory which is inclusive of the cost of placing the order and the cost of purchasing the goods.
Holding Cost: The organization will spend more money holding the stock, trying to keep it in good condition by providing the required light, temperature, skilled handlers and so on.
Working Capital not adding value: This will off shoot the holding cost. Also valuable working capital in excess stock which in the time not adding value, can affect the liquidity of the business. This is also an opportunity cost and increase solvency.
* Refer to the question column for response
NEW QUESTION # 187
Explain the concept of the 3Ps/TBL and how it can be used by an organization.
Answer:
Explanation:
Trying to measure how sustainable an organization was used to be challenging undertaking. How-ever, during the 1990s, a concept brought up by American John Elkington change the way sustainability was measured.
This framework is known as the triple bottom line (TBL) and measures sustainability in relation to organizational performance and investment against the 3Ps (1) Profits (2) People (3) Planet. For example; Profit: A packaging manufacturer reinventing its profits in a State- of-the-art recycling machinery for it wasted cardboard.
People: A large privately owned call center donate its end of life computers to a local youth clubs and social groups to help gain internet cases.
Planet: A driving instructors using only hybrid vehicles to teach her learners, thus to reducing Co2 emission.
The TBL, although a useful tool, is simply a way of recording how sustainable an organization is. Alone, it does not contribute towards any improvements or generate any actions promoting a more favorable, sustainable outlook. Objectives should be set in relation to what the 3Ps show and then monitored by implementing KPIs or other measuring methods.
* Refer to the question column for response
NEW QUESTION # 188
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