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NEW QUESTION # 96
In which circumstances would it be relevant for a procurement organisation to apply the Pareto principle (the
80/20 rule) to analyse expenditure with suppliers? Select TWO that apply.
Answer: A,E
Explanation:
The Pareto principle, or the 80/20 rule, is a tool used in procurement to identify that approximately 80% of an organisation's spend is typically with 20% of its suppliers. Applying this principle helps in:
* Identifying Strategic Suppliers:Recognising which suppliers account for the majority of spend allows organisations to focus on managing and nurturing these key relationships.
* Optimising Supplier Relationships:Understanding spend distribution can highlight opportunities to renegotiate terms, consolidate suppliers, or adjust sourcing strategies for better efficiency and cost savings.
Exact Extract from Study Guide:
"The Pareto Principle is used to identify that 80% of spend is typically with 20% of suppliers, enabling procurement to focus on strategic supplier management and optimise commercial relationships."
NEW QUESTION # 97
Jack Green is planning to use competitive tendering to source a new component for a new product that the customer research department has been developing for the domestic market. Jack is intending to use an open tender process. Which of the following aspects must Jack consider if an open tender procedure is to be used?
Answer: C
Explanation:
In an open tender process, any supplier can submit a bid, and there is no pre-qualification stage. This approach is suitable when the requirements are well-defined, and there is a sufficient number of suppliers in the market to ensure competition. However, if too many suppliers respond, it can lead to an overwhelming number of bids to evaluate. Therefore, it's essential to consider the number of potential suppliers in the market before opting for an open tender.
Exact Extract from Study Guide:
"Open procedure - used for well-specified requirements and there is no pre-qualification of bidders. Many suppliers could submit a bid, which could result in lots of bids to assess, so the open procedure is normally only used where the number of potential bidders is expected to be relatively low."
NEW QUESTION # 98
What is a risk of pre-warning a supplier that you will conduct an audit of their facilities?
Answer: C
Explanation:
A risk of pre-planning an audit is the supplier has time to prepare for it. It's a good thing in that they can get their paperwork in order but the downside is they can overprepare so you don't get a realis-tic representation of what they're doing. One way they can do this is coaching staff in what to say to the auditors.
NEW QUESTION # 99
Which of the following can be undertaken by the buyer in relation to the governance of a supplier's ethical and sustainable behaviours?
* Review the insurance clauses in the contract
* Check that the supplier's internal policies are up to date
* Check the supplier's conflict of interest register for their contract
* Review the non-disclosure agreement for their contract
Answer: A
Explanation:
Regularly checking supplier policies and conflict of interest registers helps ensure that suppliers are upholding ethical standards, which supports responsible sourcing practices. This governance activity aligns with ethical guidelines to promote transparency and prevent conflicts that could affect the integrity of the supply chain.
NEW QUESTION # 100
Which models would be appropriate for analysis of the supply market?
* Porter's Five Forces
* Porter's Value Chain
* STEEPLED
* Ishikawa Fishbone
Answer: A
Explanation:
Porter's Five Forces and the STEEPLED model are valuable tools for analyzing supply markets. These models help identify external pressures and market dynamics, supporting responsible sourcing by enabling buyers to understand and respond to market influences effectively.
NEW QUESTION # 101
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