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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Ethics, Responsibility & Compliance | 25% | - Ethical and responsible sourcing application
|
| Topic 2: Sourcing Process & Supplier Management | 25% | - Stages of strategic sourcing
|
| Topic 3: Application of Procurement Cycle | 25% | - Key stages of procurement cycle in practice
|
| Topic 4: Whole Life Asset & Cost Management | 25% | - Total cost of ownership concept
|
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NEW QUESTION # 96
Why is it important to have adequate procedures in place within an organization in relation to bribery?
Answer:
Explanation:
Bribery is the act of giving someone something of value to persuade them to do something that benefits you.
Ethical and responsible sourcing requires conducting due diligence on bribery before going into contractual relationship because failure to this might lead to loss in reputation.
In other for an organization to defend itself against a case of suspected bribery, the United Kingdom bribery Act introduced in 2010 suggests that organizations should have adequate procedures' in place.
The following are six procedures an organization should have in place to be able to defend itself against bribery
1) Proportionate procedure
2) Top level commitment
3) risk assessment
4) due diligence
5) communication
6) monitoring and reviewing
NEW QUESTION # 97
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 detail and quantities
NEW QUESTION # 98
Maximum Score: 25
(a) Outline the financial data that can be used in the process of supplier selection.
(10 marks)
(b) Explain THREE potential concerns for a buying organisation of selecting a supplier that has a current ratio of 0.67:1. (15 marks) K-cyber Shield Limited
11
Ashton Parsons is a newly appointed procurement specialist for a local government department. He has been recruited in response to a new government programme. The country ' s national government is currently promoting a programme of engagement with small and medium-size organisations (SMEs), to help build a healthy and diverse economy in the country. All local government departments have been tasked to engage with more local SME suppliers. One significant problem for SME suppliers compared with large national contractors is that they do not have the financial resources and track record of their larger competitors. This engagement programme is intended to change the reliance on just one or two large national contractors in each category of expenditure. In one category of expenditure, for a ten-year contract to supply Information Technology (IT) services to the local government department, a full invitation to tender document is to be issued shortly. Ashton has been asked to begin the sourcing process.
Ashton has received a range of data, including financial data, on one potential local supplier, K-cyber Shield Limited. All the data gathered so far has been received from independent, reliable and trusted sources.
One aspect of the financial data received to date on K-cyber Shield Limited shows that it has, at present, current assets of El 00,000 and current liabilities of El 50,000, giving a current ratio of 0.67:1.
Answer:
Explanation:
See the answer in explanation below.
Explanation:
2(a) Outline the financial data that can be used in the process of supplier selection. (10 marks) When selecting a supplier, the buyer should assess financial data to judge whether the supplier is financially stable and capable of delivering the contract.
One key source is the balance sheet , which shows the supplier's assets, liabilities and overall financial position at a point in time. This helps the buyer assess net worth, debt levels and short-term financial strength.
Second , the income statement or profit and loss account shows revenue, costs and profit over a period. This helps the buyer understand whether the supplier is profitable and commercially sustainable.
Third , the cash flow statement is important because it shows whether the supplier is generating enough cash to fund operations and meet obligations. A profitable business can still fail if it has weak cash flow.
Fourth , buyers can use the annual report , including directors' comments and risk disclosures, to understand broader business performance and future outlook.
Fifth , buyers often calculate financial ratios such as:
* liquidity ratios like the current ratio and quick ratio
* profitability ratios such as net profit margin
* gearing ratios to assess dependence on borrowing.
Finally , the buyer may review financial trends over time and use independent credit reports or external financial checks from trusted sources.
Overall, these data sources help the buyer decide whether the supplier is financially strong enough to perform the contract.
2(b) Explain THREE potential concerns for a buying organisation of selecting a supplier that has a current ratio of 0.67:1. (15 marks) A current ratio of 0.67:1 means the supplier has only ยฃ0.67 of current assets for every ยฃ1 of current liabilities . This suggests weak short-term liquidity and creates several concerns for the buyer.
1. Difficulty meeting short-term obligations
The first concern is that the supplier may struggle to pay short-term debts such as wages, bills, subcontractors or software costs. If liabilities are higher than current assets, the supplier may face cash pressure. For the buyer, this raises concerns about whether the supplier can operate reliably throughout the contract.
2. Risk of poor performance or service disruption
A weak current ratio may mean the supplier has limited working capital to support day-to-day operations. In an IT services contract, this could affect staffing, maintenance, upgrades or continuity of service. For a local government department, any disruption could be serious because public services may depend on the supplier's performance.
3. Greater financial fragility
The third concern is that the supplier may rely too heavily on overdrafts, loans or faster customer payments to survive. This makes the supplier more financially vulnerable. If costs rise or cash inflows slow down, the supplier may experience serious financial difficulty or even fail during the contract.
In conclusion, a current ratio of 0.67:1 is a warning sign because it suggests weak liquidity. It does not automatically mean the supplier should be rejected, but the buying organisation should carry out further financial checks before awarding the contract.
NEW QUESTION # 99
What are the ILO and ETI?
Answer:
Explanation:
ILO stands for International Labour Organization- It is a United Nations agency whose mandate is to advance justice and promote decent work by setting international labor standard.
ETI is Ethical Trading Initiative: It is a leading alliance of companies, trade unions and NGOs that promote respect for workers right around the globe. Its vision is a world where all workers are free from exploitation and discrimination and enjoys condition of freedom, security and equity.
NEW QUESTION # 100
What matrix helps to define how to manage stakeholders?
Answer:
Explanation:
Stakeholders are individuals or organizations who are directly affected by a decision for example, community, shareholders, employees, suppliers, distributors, customers etc. stakeholders can be internal (employers, staffs), connected (such as suppliers, shareholders, financers and customers) external (Government, pressure groups, and community).
The matrix that helps define how to manage stakeholders is mendelow's stakeholders manage-ment matrix. This matrix is based on the theory that the level of management stakeholders require depends on the level of their power and interest within the project or organization The matrix groups stakeholders in to four quadrants according to their power and interest and ad-vice how to manage them.
1) Low power - Low interest (minimum effort)
2) Low power - High interest (keep inform)
3) High power - Low interest (keep satisfied)
4) High power - high interest (manage closely)
NEW QUESTION # 101
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