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| Section | Weight | Objectives |
|---|---|---|
| Practical Application Scenarios | 15-20% | - Applying theory to real-world procurement situations - Recommendation and justification skills - Problem-solving and decision-making - Case study analysis |
| Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Supplier segmentation and criticality analysis - Spend analysis techniques - Category segmentation |
| Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Ethical sourcing considerations - Modern slavery and fair trade - Environmental sustainability in procurement - Supply chain transparency |
| Supplier Relationship Management | 20-25% | - Supplier performance measurement (KPI, scorecards) - Partnership and collaboration models - Supplier relationship types - Risk management in supplier relationships - Supplier development and improvement |
| Procurement Process and Procedures | 25-30% | - Contract award criteria - Requirements gathering and specification - Purchase ordering and goods receipt - Procurement cycle stages - Supplier selection methods |
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NEW QUESTION # 133
Research the values and ethical code of practice of an organization with which you are familiar.
Answer:
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 # 134
Which Incoterm applies here?
The supplier is responsible for delivering the goods directly onto the vessel that will transport them to their named destination. As soon as the goods are on the vessel, the risk transfers to the buyer
Answer: B
NEW QUESTION # 135
Describe three benefits of working cross-functionally
Answer:
Explanation:
See the answer in explanation.
Explanation:
Working cross-functionally is the involvement of all departments involved in an organization to contribute knowledge, skills and innovation towards adding value of achieving the organization's strategic goal. All functions may include; procurement, maintenance, marketing, finance, human resources working together in procurement activity to come up with the best strategy or selecting the supplier that best suit the organization.
When working cross functionally, members of the organization gives support by believing in the end goal, assist during difficult time, help troubleshoot any issue, providing the required resources and sharing information.
NEW QUESTION # 136
What is Decommissioning?
Answer:
Explanation:
See the answer in explanation.
Explanation:
When a fixed asset reaches the end of its life, it requires decommissioning before reconditioning or disposal.
Decommissioning is to observe all the safety measures and technical procedures and stop active machinery or an asset from operation (example; gas plant, power generator, transformer etc.
Decommissioning process include the following aspect
1) Preparation: Plan the process
2) Dismantle: Take the asset apart and remove hazardous waste
3) Processing: make safe any hazardous waste
4) Disposal: Ensure paper work is received to confirm removal and disposal
NEW QUESTION # 137
Explain why risk should be evaluated prior to the disposal of any assets.
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.
The process of disposing an asset cannot be without its risk, for example there could be pollution in the community, waste or hazardous materials that could affect the underground water or humans around.
These risks should be identified, evaluated to come up with a response strategy on how to avoid or mitigate them causing damage to human, property, business and the environment.
NEW QUESTION # 138
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