CPPB Exam - Domain VI - Strategic Procurement Planning with perfect answers 2024

SWOT analysis correct answersa planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats Pareto Principle correct answers80% of purchasing cost is created by 20% of the purchase orders issued spend analysis correct answersprocess of collecting, cleansing, classifying and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring compliance procurement profile correct answersresult produced after conducting a series of various analyses on: -procurement expenditures of an organization - range of commodities & services acquired through procurement (spend analysis), -markets that provide them (market analysis) -influence of suppliers/entity in the market -risks inherent in market buying plan correct answersbased on demand, market & supplier analyses. should be developed for each major type of material targeted for purchase. market research correct answerscurrent info to identify the most beneficial method for acquiring, distributing, and supporting supplies & services. journals indexes supplier shows industry forums, websites discussions with colleagues forecasting correct answerstool to determine future needs ongoing assessment to examine opportunities and is an essential element of strategic planning requires buyers to keep abreast of market and surveys, and understand various indicators, business cycles, indexes, lead times, and price histories.