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| Section | Objectives |
|---|---|
| Topic 1: Procurement and Supply Context | - External business environment
|
| Topic 2: Contracting and Legal Principles | - Contract management
|
| Topic 3: Supplier Relationships and Performance | - Performance improvement
|
| Topic 4: Procurement Technology and Innovation | - Innovation in supply management
|
| Topic 5: Procurement Process and Sourcing | - Sourcing strategies
|
| Topic 6: Risk, Ethics and Sustainability | - Ethical and sustainable procurement
|
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NEW QUESTION # 119
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 # 120
Explain how a lack of understanding of a global supplier's culture and ethical behavior could cost buying organization money.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Organizational culture is made up of behaviors, traits, values and beliefs and these differ signifi-cantly across the globe. Gestures that may be positive in one country can be highly offensive in another. This culture could mean; for example, individualistic/collectivistic, masculine/feminine, uncertainty avoidance, power distance, Time perspective, indulgence/restraint.
When negotiating and forming contracts within the extended supply chain, it is important that the culture of the suppliers is understood to be compatible with the buying organization or else their might be loss of reputation, time, money material and equipment.
Also, being not aware of what is an acceptable ethically behavior in global sourcing can cost a buying organization. In some countries, bribery and kickbacks are a standard part of doing business. If procurement professional is not aware of the fact that some countries methods of doing business involves or expect kickbacks, for example, this could be costly to the organization and cancel out any savings that had originally been seen.
Cost of poor quality and rework: if the product or service quality is poor the organization may not satisfy it customers and this can lead to a loss of reputation in the market. For example, a residential building construction company contracting a supplier that supply would require home owners to reinstall a new door within three months. The organization would spend more funds in carrying out rework.
More administrative cost in contract management: an organization will have to manage it sup-pliers and the contracts to ensure they are delivering what they were contracted to do. A poor con-tract management is a waste in the process of delivery that can lead to loss of money. Also, to cor-rect this would cost the organizations administrative cost.
NEW QUESTION # 121
(a) Describe a supplier evaluation approach that HFS could use to select a bidder using the table provided, including a proposal for an appropriate weighting method for scoring the bidders.
(10 marks)
(b) Recommend and justify which ONE of the bidders should be awarded the contract and why each of the three other bids should be rejected.
(15 marks)
Heart Financial Services
Heart Financial Services (HFS) is a medium-sized private sector financial services company, with a iarge office headquarters m the suburbs of a major city. HFS has just received the bids shown below in response to an invitation to tender for a five-year contract to provide cleaning services for this office building.
in the past five years, HFS paid €160,000 for these cleaning services: but HFS was not satisfied with the quality of Cleaning service that was provided. The existing cleaning contractor. DuffOean. was getting to the end of the contract and had not bid this time.
Bid price (5 year contract) International Organization for Standardization: ISO 9000 certification Investors in People (IIP) certification International Labour Organization: (ILO) certification International Organization for Standardization: ISO 14000 certification Associated Cleaning (A): €120.000 No Yes NO No Brlght'N'Clean (B): €135.000 No Yes Yes No CleenKwik (C): €132.000 Yes Yes Yes Yes Doubleshine (D): €M2.000 No No No No
Answer:
Explanation:
See the answer in explanation.below.
Explanation:
2(a) Describe a supplier evaluation approach that HFS could use to select a bidder using the table provided, including a proposal for an appropriate weighting method for scoring the bidders. (10 marks) HFS should use a weighted scoring supplier evaluation approach . This method is suitable because there are several award criteria, not just price, and HFS has already experienced poor cleaning quality under the previous contract. Therefore, HFS should assess both cost and quality-related factors before selecting the successful bidder.
A sensible approach would be:
Step 1: Set evaluation criteria
Using the tender table, HFS can evaluate bidders against:
* bid price
* ISO 9000 certification
* Investors in People (IIP) certification
* labour standards criterion linked to ILO requirements
* ISO 14000 certification.
ISO says the ISO 9000 family supports quality management and consistent delivery, while ISO 14001 is the recognised framework for environmental management. Investors in People is an externally recognised accreditation for people management.
Step 2: Apply weightings
Because HFS was not satisfied with the quality of the previous cleaning service, quality and service assurance should carry more weight than price alone. A suitable weighting could be:
* Price = 40%
* ISO 9000 = 25%
* IIP = 15%
* ILO criterion = 10%
* ISO 14000 = 10%
This totals 100%. The reason for this weighting is that price is important, but service quality should be prioritised for a five-year contract. ISO 9001 is especially relevant because it is the best-known quality management standard and is intended to support consistent products and services. ISO 14001 is also relevant because it gives assurance on environmental management.
Step 3: Score the bidders
For price , HFS could award the full 40 marks to the lowest bid and score the others proportionately using the formula:
Lowest bid ÷ bidder's price × price weighting
Using €120,000 as the lowest bid:
* A = 120,000 / 120,000 × 40 = 40.00
* B = 120,000 / 135,000 × 40 = 35.56
* C = 120,000 / 132,000 × 40 = 36.36
* D = 120,000 / 142,000 × 40 = 33.80
For the certification criteria, a simple method would be:
* Yes = full marks
* No = zero
So the total weighted scores would be:
* A = 40 + 0 + 15 + 0 + 0 = 55.00
* B = 35.56 + 0 + 15 + 10 + 0 = 60.56
* C = 36.36 + 25 + 15 + 10 + 10 = 96.36
* D = 33.80 + 0 + 0 + 0 + 0 = 33.80
Overall, this weighted evaluation method is appropriate because it gives HFS a transparent and objective way to compare bids while reflecting the importance of service quality, people management and environmental standards, not just lowest price.
2(b) Recommend and justify which ONE of the bidders should be awarded the contract and why each of the three other bids should be rejected. (15 marks) Based on the weighted scoring analysis, CleenKwik (C) should be awarded the contract.
Recommended bidder: CleenKwik (C)
CleenKwik should be selected because it offers the best overall value rather than just the lowest price. Its bid of €132,000 is only slightly above the lowest bid, but it is the only bidder with all four listed accreditations or compliance indicators in the table: ISO 9000, IIP, ILO criterion and ISO 14000 . This is important because HFS has already had poor service quality from the previous contractor, so quality assurance should be a major factor in the decision. ISO 9001 is specifically designed to support consistent service quality, while ISO
14001 supports structured environmental management. Investors in People also gives assurance on workforce management, which is relevant in a labour-intensive cleaning contract.
CleenKwik therefore represents the strongest balance between price, quality, staff management and environmental responsibility . For a five-year service contract, that makes it the most suitable choice.
Why Associated Cleaning (A) should be rejected
Associated Cleaning has the lowest price at €120,000 , but it only has IIP certification and lacks the other three criteria. This means it gives weaker assurance on quality systems, labour standards and environmental management. Since HFS's main problem in the last contract was poor cleaning quality, selecting the cheapest bidder without strong quality evidence would be risky. Therefore, A should be rejected because the low price does not compensate for the lack of broader service assurance.
Why Bright'N'Clean (B) should be rejected
Bright'N'Clean is a stronger bid than A because it has IIP and the ILO-related criterion , but it still lacks ISO 9000 and ISO 14000 . This is significant because ISO 9001 is the strongest direct indicator in the table for quality management, and HFS is specifically trying to avoid another poor-quality contract. B is also more expensive than both A and C. Therefore, B should be rejected because it offers less assurance than C while not being the cheapest option.
Why Doubleshine (D) should be rejected
Doubleshine should be rejected because it is the highest-priced bid at €142,000 and has none of the listed certifications or indicators. This means HFS would be paying the highest price for the weakest quality and compliance evidence. There is no justification for awarding the contract to D when it scores lowest on overall value.
Conclusion
In conclusion, CleenKwik (C) should be awarded the contract because it achieves the highest weighted score and provides the strongest evidence of quality, people management, labour-related assurance and environmental management. The other three bids should be rejected because they either provide insufficient quality assurance, poorer overall value, or both. This recommendation is justified because HFS needs to improve service quality, not simply reduce cost.
NEW QUESTION # 122
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
NEW QUESTION # 123
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 # 124
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