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Itec final exam questions with complete solutions

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Itec final exam questions with complete solutions

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Itec final exam questions with
complete solutions3

5 fundamental objectives of a purchasing agent - ANSWERS-Right

- quality

- quantity

- time

- price

- source



Step one in purchasing cycle - ANSWERS-Identify or anticipate material and service needs



Step 2 in cycle - ANSWERS-evaluate suppliers



step 3 in cycle - ANSWERS-select suppliers



step four in cycle - ANSWERS-release and recieve purchase requirements



step 5 in cycle - ANSWERS-Continuously measure and manage supplier performance



Requisitions - ANSWERS-method used to inform purchasing of material needs



Maverick spending - ANSWERS-as the external vendor spend which doesn't follow the defined
purchasing policies.

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