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| Section | Objectives |
|---|---|
| Procurement Technology and Innovation | - Innovation in supply management
|
| Procurement and Supply Context | - Role of procurement in organisations
|
| Contracting and Legal Principles | - Contract management
|
| Risk, Ethics and Sustainability | - Procurement risk management
|
| Supplier Relationships and Performance | - Supplier relationship management
|
| Procurement Process and Sourcing | - Supplier selection and evaluation
|
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NEW QUESTION # 12
What are the four quadrants within the Kraljic portfolio matrix?
Answer:
Explanation:
At the early stages In procurement and supply cycle, buyers begin segmenting current supplies in the categories, depending on their level of integration into the organization. To help get this done, the buyer may use the Kraljic portfolio matrix. The kraljic portfolio matrix segment suppliers into four categories, which are;
1) Routine 2) Bottleneck 3) Leverage 4)strategic supplier
NEW QUESTION # 13
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 # 14
Describe three types of fraud that could occur within the supply chain of an organization with which you are familiar.
Answer:
Explanation:
See the answer in explanation.
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 # 15
What is needed for a contract to be binding?
Answer:
Explanation:
A contract is written or verbal agreement, made between two or more parties that is legally enforceable. For a contract to be legally binding it must include intention of parties entering into the contracts. All parties must have the capacity to contract or be contracted. They must be of a sound mind, there should be a promise (offer) for performance from the other party and an exchange (consideration) of one thing for another within an agreement for contract to be binding, and there must be an acceptance of the offeror's offer by the offeree.
NEW QUESTION # 16
What happens in the public sector, regarding providing feedback?
Answer:
Explanation:
A sector is an area of an industry, e.g., private, public or third sector.
A public sector is a sector of the economy that is owned, finance and run by the government. This sector is financed with tax payer's money. And therefore owe the general public an ethical explanation towards all investment and decision.
Once the supplier that is awarded the contract has accepted, the buyer can tell the unsuccessful bidders. This usually happens through email or letter. The public sector is more likely to give feedback to unsuccessful bidders and also have to respond to any stakeholders that request information on why a supplier is not successful.
NEW QUESTION # 17
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