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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Supplier segmentation and criticality analysis - Category segmentation - Spend analysis techniques |
| Topic 2: Ethical and Sustainable Procurement | 15-20% | - Ethical sourcing considerations - Corporate Social Responsibility (CSR) - Environmental sustainability in procurement - Supply chain transparency - Modern slavery and fair trade |
| Topic 3: Procurement Process and Procedures | 25-30% | - Requirements gathering and specification - Supplier selection methods - Purchase ordering and goods receipt - Contract award criteria - Procurement cycle stages |
| Topic 4: Practical Application Scenarios | 15-20% | - Recommendation and justification skills - Case study analysis - Problem-solving and decision-making - Applying theory to real-world procurement situations |
| Topic 5: Supplier Relationship Management | 20-25% | - Supplier performance measurement (KPI, scorecards) - Supplier development and improvement - Risk management in supplier relationships - Supplier relationship types - Partnership and collaboration models |
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NEW QUESTION # 76
Explain why it is deemed better to use Sea freight rather than air
Answer:
Explanation:
It would be rare to find a supplier who does not emit any form of pollution. However, part of ethical and responsible sourcing is to make effort to reduce impact of population on the planets. Pollution can be factory emission, Noise, smell, Transportation Development, waste disposal. Transportation is a major cause of pollution. The carbon dioxide emitted from vehicles contributes greatly to air contamination. Yet it is better to use sea freight rather than air because it has a smaller impact on the environment.
NEW QUESTION # 77
Explain which factors should be considered when deciding the quantity of a product to order.
Answer:
Explanation:
See the answer in explanation.
Explanation:
When reviewing supplier's response the procurement professional should consider the right quantity of product or service that has to be ordered at anytime as against the price to decide how to gain the best cost.
Factors to consider include the following
(1)Cost of inventory
(2) cost of insurance
(3) cost of transportation.
* Refer to the question column for response
NEW QUESTION # 78
What are the two options for the disposal of an asset if resale is not possible?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Disposal of an asset is the final stage in the decommissioning process of a fixed asset.
When a fixed asset reaches the end of its useful or cost effective life time within an organization, the decision is made as to whether it should be removed from the premises or disposed off.
If the asset is truly at the end of its life, no longer fit for purpose, not cost effective to repair and is not able to be exchanged, then disposal is the only option; there are two options for disposal;
1) Take the asset to land fill site
2) Taking the asset to a recycling plant.
* Refer to the question column for response
NEW QUESTION # 79
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.
NEW QUESTION # 80
What information should be included on a purchase requisition?
Answer:
Explanation:
See the answer in explanation.
Explanation:
RESPONSE
A purchase requisition should contain the following information
1) Date of the requisition
2) Description of what is required
3) Supplier if known
4) The quantity
5) when the need is required
6) why the need is required
7) who identified the need
8) who approved the need
9) if it's a re-buy
NEW QUESTION # 81
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