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| Section | Weight | Objectives |
|---|---|---|
| Application of Procurement Cycle | 25% | - Key stages of procurement cycle in practice
|
| Whole Life Asset & Cost Management | 25% | - Total cost of ownership concept
|
| Ethics, Responsibility & Compliance | 25% | - Ethical and responsible sourcing application
|
| Sourcing Process & Supplier Management | 25% | - Stages of strategic sourcing
|
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NEW QUESTION # 86
Which products or services should not be considered for outsourcing, according to Carter's out-sourcing matrix
Answer:
Explanation:
See the answer in explanation.
Explanation:
Carters outsource matrix is a useful tool that procurement professionals uses to decide which products or services has a high or low contribution to the organization operation performance and its strategic importance.
The matrix segments products/services into four quadrants. These are Eliminate, outsource, strategic alliance and retain.
According to Carters outsource matrix, all product/services that has a high strategic importance should not be outsourced. They should rather be retained in house or carefully chose suitable sup-pliers and go into strategic alliance.
* Refer to the question column for response
NEW QUESTION # 87
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)
* Refer to the question column for response
NEW QUESTION # 88
Explain why it is deemed better to use Sea freight rather than air
Answer:
Explanation:
It would be rare to find a supplier who does not emit any form of pollution. However, part of ethical and responsible sourcing is to make effort to reduce impact of population on the planets. Pollution can be factory emission, Noise, smell, Transportation Development, waste disposal. Transportation is a major cause of pollution. The carbon dioxide emitted from vehicles contributes greatly to air contamination. Yet it is better to use sea freight rather than air because it has a smaller impact on the environment.
NEW QUESTION # 89
Explain why risk should be evaluated prior to the disposal of any assets.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Disposal of an asset is the final stage in the decommissioning process of a fixed asset.
When a fixed asset reaches the end of its useful or cost effective life time within an organization, the decision is made as to whether it should be removed from the premises or disposed off.
The process of disposing an asset cannot be without its risk, for example there could be pollution in the community, waste or hazardous materials that could affect the underground water or humans around.
These risks should be identified, evaluated to come up with a response strategy on how to avoid or mitigate them causing damage to human, property, business and the environment.
* Refer to the question column for response
NEW QUESTION # 90
Which contract term contains details of when a product or service should be delivered and ex-plained the potential loss of business?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Contract terms are the right and duties agreed between parties with which are then documented in contract.
Terms can be either implied or expression.
Implied terms are always present in a contract and are set by national laws; like the sales of goods act, whereas express terms are negotiated and created, for example; time is of the essence. When the procurement professional is setting key performance indicators, where which the supplier's performance will be monitored and managed, the KPI is expected to be SMART. The SMART is an acronym that is used to set KPI and specification. It means:
Specific
Measurable
Achievable
Relevant
Time bound
* Refer to the question column for response
NEW QUESTION # 91
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