CPPB - Domain 1 Procurement Administration with 100% perfect answers 2024

Good performance measures need to be meaningful for all participants including: correct answersProcurement professionals, clients and suppliers Good performance measures need to be stated in terms of the higher-level objectives of the central procurement office or else they will lose: correct answerstheir impact Good performance measures need to be: correct answersfair, easy to collect, consistent and objective Performance measure activities must be measured against a metric. Metrics include: correct answersInputs, outputs, outcomes, efficiency measures and effectiveness measures Inputs: correct answersMeasure resources used. They include labor, materials, equipment and supplies. Demand for services may also be considered Outputs: correct answersRecord activity or effort that can be expressed in a quantitative or qualitative manner. Consider: total number of new contracts, total number of employees who obtained professional certification, total spend. Cycletime correct answersTime to produce a PO, Inventory turnover Customer Satisfaction correct answersNumber of Disputes subtract Number of change orders Outcomes correct answersAssess results of an activity and show whether expected results were achieved (customer service, improved performance of supplier, employee retention) Efficiency Measures correct answersRepresent the ratio of inputs to outputs or outcomes Effectiveness Measures correct answersReflect how long it takes to process a request for procurement (purchase orders, bids, etc.) The following are examples of methods that may be used to measure procurement performance: correct answersPerformance reviews, regular staff meetings, benchmarking, performance indicators, performance targets and quality management tools