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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Supplier segmentation and criticality analysis - Category segmentation - Spend analysis techniques |
| Topic 2: Ethical and Sustainable Procurement | 15-20% | - Environmental sustainability in procurement - Modern slavery and fair trade - Corporate Social Responsibility (CSR) - Supply chain transparency - Ethical sourcing considerations |
| Topic 3: Supplier Relationship Management | 20-25% | - Supplier relationship types - Risk management in supplier relationships - Supplier development and improvement - Partnership and collaboration models - Supplier performance measurement (KPI, scorecards) |
| Topic 4: Practical Application Scenarios | 15-20% | - Problem-solving and decision-making - Case study analysis - Recommendation and justification skills - Applying theory to real-world procurement situations |
| Topic 5: Procurement Process and Procedures | 25-30% | - Procurement cycle stages - Contract award criteria - Requirements gathering and specification - Supplier selection methods - Purchase ordering and goods receipt |
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NEW QUESTION # 181
Describe a current or recent trade war of which you are aware and explain the implication it has for world trade.
Answer:
Explanation:
Trade war is an economic conflict where countries make it difficult for global trading to happen. Trade wars can make importing products to a country very expensive. A recent example is the US-China trade war; prices were raised on us-built vehicles exported to China. This affected consumer the most as there was an upshot of price.
NEW QUESTION # 182
Explain the concept of the 3Ps/TBL and how it can be used by an organization.
Answer:
Explanation:
Trying to measure how sustainable an organization was used to be challenging undertaking. How-ever, during the 1990s, a concept brought up by American John Elkington change the way sustainability was measured. This framework is known as the triple bottom line (TBL) and measures sustainability in relation to organizational performance and investment against the 3Ps (1) Profits (2) People (3) Planet. For example; Profit: A packaging manufacturer reinventing its profits in a State- of-the-art recycling machinery for it wasted cardboard.
People: A large privately owned call center donate its end of life computers to a local youth clubs and social groups to help gain internet cases.
Planet: A driving instructors using only hybrid vehicles to teach her learners, thus to reducing Co2 emission.
The TBL, although a useful tool, is simply a way of recording how sustainable an organization is. Alone, it does not contribute towards any improvements or generate any actions promoting a more favorable, sustainable outlook. Objectives should be set in relation to what the 3Ps show and then monitored by implementing KPIs or other measuring methods.
NEW QUESTION # 183
Describe three ways in which a buyer could or test the market in other to assist with determining a need.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Once the need has been understood, defined, justified and authorized, the next stages are to analyze and test the market. Analyzing and testing the market includes looking at the following
1. STEEPLE analysis
2. SWOT analysis
3. Porter's five forces
4. Level of suppliers competition
5. Supply and demand
6. Push and pull
7. Supplier segmentation
8. Product life cycle
9. Ansoff matrix
10. Early supplier involvement
11. Make or buy
12. Offshoring
1. Porter's five forces: The use of porter's five forces helps the procurement professional to understand the level of competition within the marketplace. Whether it is a monopoly, oligopoly, imperfect or perfect market.
Knowing these will equip the organization to better negotiate a favorable price.
2. Supply and Demand: the procurement professional must also think about supply and demand as part of their market analysis when they receive a requisition. This economic factor has a significant effect on the prices charged and on the cost incurred.
3. Supplier segmentation: in this the procurement professional start to form an opinion of potential suppliers..
They can segment current suppliers into four categories, depending on their level of integration into an organization. This can help to inform the procurement professional of which type of supplier relationship that would be most appropriate.
* Refer to the question column for response
NEW QUESTION # 184
Describe three types of fraud that could occur within the supply chain of an organization with which you are familiar.
Answer:
Explanation:
Fraud occurs when a person acts deliberately to secure monies from another party through dishonest method.
Within the supply chain of an organization, fraud can represent itself in the following ways:
1. Kickbacks: e.g. (commission given to a bribe taker for service perform)
2. Corrupt influence (e.g ordering more than what is required)
3. Collusion: (group of suppliers working together to submit multiple bids and split profit.
4. Bid Rigging (a contract is informally agreed with a chosen supplier prior to the official process
5. invoicing fraud
6. Substitution (submitting products that are below the required quality
7. False claims (files false document)
Case Study
A series of news stories reporting events such as the collapse of the Rana Plaza building in 2013 have drawn attention to the poor conditions in garment factories across India and South East Asia. Human rights groups have long be critical of the excessive hours and poor wages workers are forced to endure, as well as the abuse they receive from supervisor. With consumers becoming increasingly aware of these conditions, more pressure is being put on global brands and retailers to ensure their supply chains are fair and ethical.
Certain areas have been notorious for the mistreatment of workers. In India's textile valley', young women are been bound into contracts where they work for two to three years, in exchange for a lump sum of money that they can then put towards a dowry. This is known as the 'Sumangali [a married woman] Thittam' scheme. These women are forced to live in hostels under restrictions that prevent them from moving, and are denied the opportunity to improve their living conditions. Retailers including Walmart and H & M are known to source garments from factories in the 'textile valley'.
Reports by organizations including the Asia Floor Wage Alliance (AFWA), Central Combodia, Global Labor Justice, Sedane Labour Resource Centre (LIPS) Indonesia, and Society for Labour and Development (SLD) India have exposed unethically run factories that supply garments to H & M, Gap and Walmart. However, retailers will continue to benefit from expensive labour until mounting customers pressure causes them to change.
NEW QUESTION # 185
What effect is technology having on jobs within an organization with which you are familiar with?
Answer:
Explanation:
Refer to the question column for response
NEW QUESTION # 186
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