, CMRP Certification Baseline Quiz & Key Concepts –
Comprehensive Review of Procurement, Inventory &
Compliance Essentials.
Stock Requisition
This is a request from a department for one or more items that are carried in the organization's
warehouse or storeroom. All that is required is an item number and a quantity.
Standing Order
A standing order is for the automatic delivery of a specific amount of product on a regular, pre-
determined basis. A standing order always has a start and end date, total amount, and defined delivery
dates and quantities.
FOB shipping point
In this case the title of the goods passes to the facility when the shipping agent takes possession. The
facility is responsible for all freight costs and for filing any damage claim.
Returned Goods Authorization (RGA)
Completion of a returned goods authorization should result in a credit memo.
Value Analysis Process
Identifying the top 10 vendors with the lowest spend does not add value to the process.
Purchasing Metrics
Metrics that are used to evaluate the efficiency and effectiveness of purchasing activities.
Invoice discrepancies
Issues or differences found in invoices that may require resolution.
Obsolete or expired inventory
Inventory items that are no longer usable or have passed their expiration date.
Total delivered cost
This type of cost evaluation tool involves all aspects of the product cycle.
% of purchases on contract
The percentage of total purchases that are made under a contractual agreement.
Non-stock requisition
Comprehensive Review of Procurement, Inventory &
Compliance Essentials.
Stock Requisition
This is a request from a department for one or more items that are carried in the organization's
warehouse or storeroom. All that is required is an item number and a quantity.
Standing Order
A standing order is for the automatic delivery of a specific amount of product on a regular, pre-
determined basis. A standing order always has a start and end date, total amount, and defined delivery
dates and quantities.
FOB shipping point
In this case the title of the goods passes to the facility when the shipping agent takes possession. The
facility is responsible for all freight costs and for filing any damage claim.
Returned Goods Authorization (RGA)
Completion of a returned goods authorization should result in a credit memo.
Value Analysis Process
Identifying the top 10 vendors with the lowest spend does not add value to the process.
Purchasing Metrics
Metrics that are used to evaluate the efficiency and effectiveness of purchasing activities.
Invoice discrepancies
Issues or differences found in invoices that may require resolution.
Obsolete or expired inventory
Inventory items that are no longer usable or have passed their expiration date.
Total delivered cost
This type of cost evaluation tool involves all aspects of the product cycle.
% of purchases on contract
The percentage of total purchases that are made under a contractual agreement.
Non-stock requisition
