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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Supplier Relationship Management | 20-25% | - Supplier development and improvement - Partnership and collaboration models - Risk management in supplier relationships - Supplier relationship types - Supplier performance measurement (KPI, scorecards) |
| Topic 2: Strategic Sourcing and Category Management | 20-25% | - Category segmentation - Spend analysis techniques - Strategic sourcing process - Supplier segmentation and criticality analysis |
| Topic 3: Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Supply chain transparency - Modern slavery and fair trade - Environmental sustainability in procurement - Ethical sourcing considerations |
| Topic 4: Procurement Process and Procedures | 25-30% | - Supplier selection methods - Contract award criteria - Procurement cycle stages - Purchase ordering and goods receipt - Requirements gathering and specification |
| Topic 5: Practical Application Scenarios | 15-20% | - Case study analysis - Recommendation and justification skills - Applying theory to real-world procurement situations - Problem-solving and decision-making |
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NEW QUESTION # 169
How can procurement professionals select suppliers?
Answer:
Explanation:
See the answer in explanation.
Explanation:
During the sourcing stage of the procurement cycle, the procurement professional needs to identify and select suppliers to fulfill the business needs. Supplier selection involves evaluating suppliers against predetermine criteria to assess their suitability in working with the buying organization. Suppliers can be evaluated according to Carter's 10Cs which are as follows: (1) Competency (2) capacity (3) consistency (4) control (5) cost (6) commitment (7) cash (8) Clean (9) culture (10) communication.
Procurement professionals can decide to evaluate and select suppliers based on the overall strategy and the business objectives. After that, it most suitable suppliers receive the documentation (Invitation to tender/ request for quotation).
NEW QUESTION # 170
Create two KPIs and two SLAs for a contract with which you are familiar.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Key performance Indicators (KPIs) and service level Agreement (SLA) are measures that demon-strate the effectiveness of a supplier. By using KPIs and SLAs as part of suppliers management, procurement professionals can monitor and evaluate performance and identify areas that need attention or improvement.
KPIs and SLAs are used for product and service contract respectively.
Two KPI
1) Number of defects: Not more than two defects is allowed on the generator and its accessories
2) Supplier Lead Time: Delivery after placing order should not be anytime longer than 14 days.
Two SLAs
1) The toilet should be washed with soap, and deodorant should be sprayed twice a day
2) Bathroom and toilet should not be allowed to smell out to the passage. Bathroom smelling out to the passage twice a month is a violation of the contract.
* Refer to the question column for response
NEW QUESTION # 171
What are the five stages in Tuckman's team Development model?
Answer:
Explanation:
Tuckman's team development model depicts from where a team is formed to the various stages they might experience before the end where the objective is achieved and these includes.
1) Forming: here they are just being put together
2) Storming: conflict and competition begin to arise
3) Norming: here agreement and consensus is reached as roles and responsibility is clear.
4) Perform: They start carrying out the roles and responsibility
5) Adjourning: Task is complete and they are discharged
NEW QUESTION # 172
What are advantages and disadvantages of the two types of specifications?
Answer:
Explanation:
Ones the need is understood, the procurement professional develops the specifications while working together with stakeholders and colleagues to ensure that the final design is fit for purposes that it meets the generated need.
Specification can be focus on performance or conformance.
Performance specification states what the product or service must do or how it should perform but leave the supplier the freedom to achieve this, however they wish.
Performance specification brings the following advantages; it allows supplier innovation, promote competition in the market place, shorter document, quick to prepare. The disadvantage of perfor-mance specification is that buyers may not know exactly what they will be getting.
Conformance specification gives clear instructions to the supplier about what is required and how it should be achieved. Examples of conformance specifications are chemical formulae, recipes and technical drawings.
Conformance specification specifies which standards a requirement must meet or exceed. The advantage of using it is; buyers know exactly what they will get. It has the following disadvantages; the buyer bears the risk, it does not encourage supplier to innovate, take longer and complex documentation.
* Refer to the question column for response
NEW QUESTION # 173
Justify which of the five approaches to condition performance monitoring you think is the most cost effective within whole life asset management.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Condition performance monitoring is a surveillance system that is designed to get the maximum production uptime and availability out of an asset. And this can be achieved by timely monitoring and measuring of temperature, vibration, output, speed, noise, emissions and quality. With this, decision has to be made as to what, if any, action needs to be taken. The five approaches to condition performance monitoring are as follows:
1. Do nothing: Use like a commodity. This will bring worries later.
2. Reactive: Fix it when it breaks. This will run to failure.
3. Preventive: Scheduled maintenance.
4. Predictive: Fix it before it breaks. Predict faults.
5. Proactive: Continuous improvement defect elimination.
The most cost-effective approach is 'Proactive', because is the only approach that has continuous improvement in the process, people and policies to minimize downtime. Being proactive takes defect out f the system and continuously harness opportunity that will optimize the system
* Refer to the question column for response
NEW QUESTION # 174
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