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| Section | Weight | Objectives |
|---|---|---|
| Practical Application Scenarios | 15-20% | - Case study analysis - Applying theory to real-world procurement situations - Recommendation and justification skills - Problem-solving and decision-making |
| Ethical and Sustainable Procurement | 15-20% | - Ethical sourcing considerations - Modern slavery and fair trade - Corporate Social Responsibility (CSR) - Environmental sustainability in procurement - Supply chain transparency |
| Supplier Relationship Management | 20-25% | - Supplier relationship types - Supplier performance measurement (KPI, scorecards) - Risk management in supplier relationships - Partnership and collaboration models - Supplier development and improvement |
| Strategic Sourcing and Category Management | 20-25% | - Supplier segmentation and criticality analysis - Category segmentation - Spend analysis techniques - Strategic sourcing process |
| Procurement Process and Procedures | 25-30% | - Supplier selection methods - Purchase ordering and goods receipt - Requirements gathering and specification - Contract award criteria - Procurement cycle stages |
>> L4M8 Exam Questions And Answers <<
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NEW QUESTION # 100
Describe what should be considered when creating damages terms in a contract.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Damages are 'sum of money that the supplier pays if it fails to carry out its contractual obligation.
When creating terms for damages in the contract, it should be considered that Damages are categorized into two types (liquidated and un-liquidated). And which or if both are applicable to the contract in hand.
Liquidate Damages are fixed amount of money agreed between the parties that is payable if a contract is breached. For example, knowing that supplier not being able to install a device properly in a power transformer may destroy the device and going ahead to include a fee in the contract if the device was destroyed.
Un-liquidated damages are unfixed amount of money. It is used when the amount of money that will compensate the injured party cannot be known in advance. A court decides the amount when the damages occur. For example, knowing that supplier not being able to install a device properly in a power transformer may destroy the device, other appliances and equipment unknown, cause the buyer delay in the process and reputational damage as in customer dissatisfaction. Yet, unquantifiable as both parties are unable to fix a fee in advance on the damages and leaving it to the court to decide the damage if it may occur.
* Refer to the question column for response
NEW QUESTION # 101
Describe three benefits of working cross-functionally
Answer:
Explanation:
Working cross-functionally is the involvement of all departments involved in an organization to contribute knowledge, skills and innovation towards adding value of achieving the organization's strategic goal. All functions may include; 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 cross functionally, members of the organization gives support by believing in the end goal, assist during difficult time, help troubleshoot any issue, providing the required resources and sharing information.
* Refer to the question column for response
NEW QUESTION # 102
What are the 3Ps in the triple bottom line.
Answer:
Explanation:
Trying to measure how sustainable an organization was use to be challenging undertaking. However, 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 reinvesting its profits in State- of-the-art recycling machinery for it wasted cardboard.
People: A large privately owned call centre 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.
NEW QUESTION # 103
What Incoterm applies here?
The supplier is responsible of placing the goods in the hands of a chosen carrier by the buyer, at which point the buyer takes on the risk.
Answer: B
NEW QUESTION # 104
Explain how influencing, can relate to corruption within procurement.
Answer:
Explanation:
Influencing is the capacity to be able to change behavior or opinions, either consciously or subconsciously.
As outlined by Yukl and falbets work from 1990 influencing can relate to corruption within pro-curement in these six ways.
1)A party can be assertive (forceful, directive, using deadlines),
2) Ingratiating i.e. using charm and flattery.
3) Exchange-Trading favors,
4) Upward appeal (requesting input for senior management not only that influencing can come as
5) Coalition; team members uniting for support.
5) Rational persuasion, i.e. bringing in logic and facts for clarification.
NEW QUESTION # 105
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