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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Ethical and Sustainable Procurement | 15-20% | - Supply chain transparency - Modern slavery and fair trade - Corporate Social Responsibility (CSR) - Environmental sustainability in procurement - Ethical sourcing considerations |
| Topic 2: Supplier Relationship Management | 20-25% | - Risk management in supplier relationships - Partnership and collaboration models - Supplier performance measurement (KPI, scorecards) - Supplier development and improvement - Supplier relationship types |
| Topic 3: Procurement Process and Procedures | 25-30% | - Supplier selection methods - Procurement cycle stages - Requirements gathering and specification - Purchase ordering and goods receipt - Contract award criteria |
| Topic 4: Practical Application Scenarios | 15-20% | - Recommendation and justification skills - Problem-solving and decision-making - Applying theory to real-world procurement situations - Case study analysis |
| Topic 5: Strategic Sourcing and Category Management | 20-25% | - Spend analysis techniques - Strategic sourcing process - Supplier segmentation and criticality analysis - Category segmentation |
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NEW QUESTION # 169
Write all of factors that contribute towards value for a product that you regularly purchase.
Answer:
Explanation:
Factors that contribute towards value for clothe gum in a fashion firm;
1) How much money does the gum cost?
2) How much is the benefits of using the clothe gum?
3) Does customers prefer clothe gum at the bottom of their garment?
4) Is the clothe gum difficult to use?
5) Does the clothe gum beautifies the fabric when placed properly?
6) Does it give a better finishing?
7) Is it ethical to use?
8) Is it from a sustainable source?
9) is it environmental friendly?
10) Does using clothe gum suggest innovation in fashion?
NEW QUESTION # 170
What is a cross function team?
Answer:
Explanation:
See the answer in explanation.
Explanation:
A cross-function Team is the involvement of all departments that are in an organization to contribute knowledge, skills and innovation towards adding value to achieving the organization's strategic goal.
Example, 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 in a cross-functional team, members of the organization give support by believing in the end goal, assist during difficult time, help troubleshoot any issue, providing the required resources and sharing information Refer to the question column for response
NEW QUESTION # 171
When should whole life asset management be applied?
Answer:
Explanation:
When organization has made the decision about which option is best for sourcing the asset, it can then begin to work on the whole life asset management strategy.
Whole life asset management is the process of evaluating the total price and all associated costs of a product to make an informed decision as to which option will provide the organization with the best value for money. This strategy is only under taken for large-value procurements because; 1) It takes considerable time (2) It involves many stakeholders and require numerous resources; If whole life asset management were conducted on every purchase it would not create value for the organization and that may tie up valuable resources.
NEW QUESTION # 172
Describe three ways that hidden cost could present themselves within the logistics operation
Answer:
Explanation:
See the answer in explanation.
Explanation:
Hidden costs are costs that do not always present themselves at the onset of the project.
Logistics can provide a hidden cost within global sourcing. The movement of goods can generate risk within a localized supply chain, but the risk is greater within global sourcing. Within global sourcing there are usually many more aspects to the logistics operation, hidden cost associated with the logistics process includes,;1) delays that can be experienced after placing orders, 2) unclear and poor/incorrect communication that might affect the successes of the transaction, also 3) goods could be confiscated by customs for unseen reasons.
NEW QUESTION # 173
When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?
Answer:
Explanation:
See the answer in explanation.
Explanation:
When evaluating potential suppliers, procurement professionals can carry out benchmarking. Benchmarking is the process of comparing a function, a process performance with another which is best in-class.
Other factors, apart from price that can be considered to find the total cost of acquisition include the product or service quality, lead time, supplier culture, its environmental awareness and sustainability.
Case study:
Tetsuya Tada, Chief engineer of the Toyata Supra Sports car has revealed how the process of benchmarking contributed to the car's design.
Tada has worked by comparing the Supra to other cars. For example, it has been intentionally designed with a shorter wheelbase, than the Toyata 86 to make it more suitable for track racing. Furthermore, Tada has benchmarked the Supra against competition by suggesting that drivers will find the car's performance comparable with that of Posche's Cayman sports car.
Tada's knowledge of the features belonging to different sports cars in his industry shows how benchmarking can be used by companies to successfully differentiate their products and remain competitive through awareness of their competitor's activities.
NEW QUESTION # 174
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