2025 UPDATED |CIPS L3M2| WITH MOSTLY TESTED COMPLETE
在中文中
QUESTIONS AND ANSWERS |100% RATED CORRECT |GRADED A+
Brand - (ANSWER)An organisations identity
total cost approach - (ANSWER)An approach that considers all the costs associated with procuring an
item
The 5 rights of Procurement - (ANSWER)Quantity, quality, time, place, price
Lifetime costing - (ANSWER)Total anticipated costs of designing procuring acquiring running and
disposing of a fixed asset
Request for Quotation (RFQ) - (ANSWER)An invite to supplier to bid on specific products or services -
the supplier will feedback a purchase price
Purchase Order (PO) - (ANSWER)Documents that detail the transaction the supplier and buyer have
agreed on
Advantages of life time costing - (ANSWER)Improved awareness, enables action to be taken if required,
clear decision making, improved forecasting
, Disadvantages of lifetime costing - (ANSWER)Pressure from management, could make an organisation
在中文中
reactive, time consuming, costs can change
Value for money is linked to the 3 E's - (ANSWER)Efficiency, economies and effectiveness
Organisational success comprises of 5 factors - (ANSWER)People, purpose, procedures, customers,
resources
Kaizen - (ANSWER)Japanese term for continuous improvement
The 5s framework- used to refine methods and procedures - (ANSWER)Sort, set in order, shine,
standardise, sustain
lean - (ANSWER)A business methodology that aims to create more value with fewer resources
There are 7 types of waste in a lean thinking - (ANSWER)Motion, inventory, over production, waiting,
defects, over processing, transportation
Effectiveness is how efficiently an org reaches its objectives. To improve, it needs to consider the
following - (ANSWER)Leadership, communication, accountability, delivery, performance, measurement
在中文中
QUESTIONS AND ANSWERS |100% RATED CORRECT |GRADED A+
Brand - (ANSWER)An organisations identity
total cost approach - (ANSWER)An approach that considers all the costs associated with procuring an
item
The 5 rights of Procurement - (ANSWER)Quantity, quality, time, place, price
Lifetime costing - (ANSWER)Total anticipated costs of designing procuring acquiring running and
disposing of a fixed asset
Request for Quotation (RFQ) - (ANSWER)An invite to supplier to bid on specific products or services -
the supplier will feedback a purchase price
Purchase Order (PO) - (ANSWER)Documents that detail the transaction the supplier and buyer have
agreed on
Advantages of life time costing - (ANSWER)Improved awareness, enables action to be taken if required,
clear decision making, improved forecasting
, Disadvantages of lifetime costing - (ANSWER)Pressure from management, could make an organisation
在中文中
reactive, time consuming, costs can change
Value for money is linked to the 3 E's - (ANSWER)Efficiency, economies and effectiveness
Organisational success comprises of 5 factors - (ANSWER)People, purpose, procedures, customers,
resources
Kaizen - (ANSWER)Japanese term for continuous improvement
The 5s framework- used to refine methods and procedures - (ANSWER)Sort, set in order, shine,
standardise, sustain
lean - (ANSWER)A business methodology that aims to create more value with fewer resources
There are 7 types of waste in a lean thinking - (ANSWER)Motion, inventory, over production, waiting,
defects, over processing, transportation
Effectiveness is how efficiently an org reaches its objectives. To improve, it needs to consider the
following - (ANSWER)Leadership, communication, accountability, delivery, performance, measurement
