Purchase and sourcing Samenvattingen, Notities en Examens

CIPS L4M8 Exam Questions And Answers Stage 13: Assest management/end of life The procurement professional should evaluate whether the need is still current. If it is and unchanged, the procurement cycle commences again but from a different stage as the need is already known and understood. If the need is not required the buyer should manage the end of life by reducing stock levels and informing the supplier Anti-bribery procedures -Proportionate procedures: should be in line with the yp...

SCMN 2150 Exam 3 Latest Version Graded A+ This software facilitates improved performance of day-to-day operating tasks from the time a purchase order for materials is placed until the delivery of a customer order is made. supply chain execution A properly developed supply chain wide technology strategy supports multiple levels of decision making and creates a clear view of the flow of products, information, and services across the supply chain True Data that is ____ must come be una...

What is procurement? : The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. How does procurement differ from strategic sourcing and supply management? : Procurement is buying the merchandise or services while SS tries to improve the buying process and SM is setting up in order to attain what it needs. What is strategic sourcing? : The process of analyzing an organization's spending and using the analysis to make effective decis...

CIPS L4M1 - Question & Answer Past exam questionsO1. Outline FIVE differences between purchasing goods and purchasing services. - correct answer 1. Goods are tangible, services are intangible: 2. Services cannot be separated from their supplier: 3. Heterogeneity: goods are usually uniform in nature while services are unique at each delivery 4. Services 'perish' immediately on delivery whereas goods can be stored until required 5. Products are easier to specify, being tangible O2. Expla...

Outsourcing - Transferring a firm's activities that have traditionally been internal to external suppliers Vendor-managed inventory - a system in which a supplier maintains material for the buyer, often delivering directly to the buyer's using department. Postponement - Delaying any modifications or customization to a product as long as possible in the production process. The concept is to minimize internal variety while maximizing external variety. Blanket order - A long-term purchase c...

BUAD 331 Exam Questions And Answers (Verified And Updated) Planning involves predicting or forecasting future demand for a product or service to secure capacity, materials, and talent to fulfill the expected demand in a way that meets customer's expectations Sourcing or Procurement involve identifying, acquiring, and managing the goods and services needed to run a business or another organization Inbound Logistics involves the management of materials from suppliers and vendors in...

CIPS L4M1 - Question & Answer Past exam questionsO1. Outline FIVE differences between purchasing goods and purchasing services. - correct answer 1. Goods are tangible, services are intangible: 2. Services cannot be separated from their supplier: 3. Heterogeneity: goods are usually uniform in nature while services are unique at each delivery 4. Services 'perish' immediately on delivery whereas goods can be stored until required 5. Products are easier to specify, being tangible O2. Expla...

An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - correct answer standardization A buyer has been invited to join a supplier account rep for lunch to discuss the performance of a contract. How should the buyer respond to the invitation? A. decline the supp...

CPPB Full Prep Complete Questions and A An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - ANSWER standardization A buyer has been invited to join a supplier account rep for lunch to discuss the performance of a contract. How should the buyer respond to the...

CIPS L4M1 - Question & Answer Past exam questions latest 2023/2023 O1. Outline FIVE differences between purchasing goods and purchasing services. 1. Goods are tangible, services are intangible: 2. Services cannot be separated from their supplier: 3. Heterogeneity: goods are usually uniform in nature while services are unique at each delivery 4. Services 'perish' immediately on delivery whereas goods can be stored until required 5. Products are easier to specify, being tangible O2. Exp...