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| Section | Weight | Objectives |
|---|---|---|
| Strategic Sourcing and Category Management | 20-25% | - Supplier segmentation and criticality analysis - Strategic sourcing process - Category segmentation - Spend analysis techniques |
| Practical Application Scenarios | 15-20% | - Case study analysis - Recommendation and justification skills - Applying theory to real-world procurement situations - Problem-solving and decision-making |
| Procurement Process and Procedures | 25-30% | - Procurement cycle stages - Requirements gathering and specification - Supplier selection methods - Purchase ordering and goods receipt - Contract award criteria |
| Supplier Relationship Management | 20-25% | - Supplier performance measurement (KPI, scorecards) - Supplier relationship types - Partnership and collaboration models - Risk management in supplier relationships - Supplier development and improvement |
| Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Ethical sourcing considerations - Environmental sustainability in procurement - Modern slavery and fair trade - Supply chain transparency |
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NEW QUESTION # 181
Explain which company you would award the contract to base on the weighted score card in table below.
Answer:
Explanation:
A weighted score card is a tool with a systematic and a fair process for selecting supplier, based on predetermined criteria. This tool can help make the decision by presenting a fair display of how all suppliers did in the process. The values of these weights are based on their importance. The supplier with the highest score card is considered the most suitable to be awarded the contract.
In the table above, cost is considered more than all other criteria. Contract length is the lowest which is weighted 2 Base on the weighted score card as presented above, company B scored 78 while company A and company C scored 65 and 63 respectively.
Company A, having scored the highest (78) should be awarded the contract.
* Refer to the question column for response
NEW QUESTION # 182
Which products or services should not be considered for outsourcing, according to Carter's out-sourcing matrix
Answer:
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.
NEW QUESTION # 183
What do STEEPLE and SWOT stand for?
Answer:
Explanation:
RESPONSE
After a need in an organization has been identified/understood, defined, justified and authorized, the next stages are to understand how commodity prices are reacting, which suppliers are available and their strength.
The make or buy decision can be reached with knowledge from this; the procurement professional can consider the organization external environment, strength, weakness opportunity and threat to develop strategy
/plan of how to achieve the procurement.
'STEEPLE' is an effective way to evaluate the external environment. It helps buyers to assess factors that could affect the need in hand and helps them to develop the plan accordingly. 'STEEPLE' is an acronym which stands for, Social, Technology, Economic, Environment, Political, Legal, Ethical
'SWOT' helps the organization to analyze its strength and within the organization and the oppor-tunity and threats outside the organization.
'SWOT' is an acronym which stands for, strength, weakness, opportunity and threats.
* Refer to the question column
NEW QUESTION # 184
Explain how procurement should decide whether to make or buy a product or service.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Make or buy decision are about whether a products or services should be made within the organization or bought-in from an external supplier.
For a procurement professional to establish which method (make or buy) offers the best value, the item in question must be thought through if it is core to the organization and which option will add more value to the organization, as regards achieving its strategic goals. If it is core the procurement professional decide to make it and if it is not core the product or services can be bought in.
NEW QUESTION # 185
How can procurement professionals select suppliers?
Answer:
Explanation:
During the sourcing stage of the procurement cycle, the procurement professional needs to identify and select suppliers to fulfill the business needs. Supplier selection involves evaluating suppliers against predetermine criteria to assess their suitability in working with the buying organization. Suppliers can be evaluated according to Carter's 10Cs which are as follows: (1) Competency (2) capacity (3) consistency (4) control (5) cost (6) commitment (7) cash (8) Clean (9) culture (10) communication.
Procurement professionals can decide to evaluate and select suppliers based on the overall strategy and the business objectives. After that, it most suitable suppliers receive the documentation (Invitation to tender/ request for quotation).
NEW QUESTION # 186
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