Exam (elaborations)
CPPB Exam - Domain VI - Strategic Procurement Planning Questions With Complete Solution
- Course
- Institution
CPPB Exam - Domain VI - Strategic Procurement Planning Questions With Complete Solution
[Show more]
Seller
Follow
HELLENAH
Reviews received
Content preview
CPPB Exam - Domain VI - Strategic ProcurementPlanning Questions With Complete Solution
Quiz :SWOT analysis - Answer :a planning tool used to analyze an
organization's strengths, weaknesses, opportunities, and threats
Quiz :Pareto Principle - Answer :80% of purchasing cost is created by 20% of
the purchase orders issued
Quiz :spend analysis - Answer :process of collecting, cleansing, classifying and
analyzing expenditure data with the purpose of decreasing procurement costs,
improving efficiency, and monitoring compliance
Quiz :procurement profile - Answer :result 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
Quiz :buying plan - Answer :based on demand, market & supplier analyses.
should be developed for each major type of material targeted for purchase.
Quiz :market research - Answer :current info to identify the most beneficial
method for acquiring, distributing, and supporting supplies & services.
journals
indexes
supplier shows
industry forums,
websites
discussions with colleagues
Quiz :forecasting - Answer :tool 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.
affects timing of spot bids
Quiz :Purchasing Manager's Index (PMI) - Answer :indicator that identifies
highs and lows in the economy
Quiz :Fixed Period Average - Answer :mathematical calculation used to divide
total usage for a fixed period (generally 12 months), using the last fiscal
calendar, by the number of months involved (generally 12)
resulting average is forecast for comparable future period.
ignores current trends, reflects old patterns and not the current direction.
Quiz :Moving Average Method - Answer :continuous average method to
gather most current usage information.
Always uses most recent data - 12 month period would be avg monthly usage
for immediately preceding 12 months; as year progresses, forecast is updating
by dropping oldest month and adding most recent month.
Quiz :Weighted Moving Average Method - Answer :gives more significance to
weighting specific information such as seasonal variations.
Quiz :Mean Absolute Deviation (MAD) - Answer :a measure of the overall
forecast error
MAD = absolute value of errors divided by number of errors. The smaller/lower
the value of MAD, the more accurate the forecast.
Quiz :SD - Answer :standard deviation
Quiz :forecast data include: - Answer :new orders
production
employment
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller HELLENAH. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79373 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
Recently viewed by you
Exam (elaborations) ·
Counselling Theories - CBT, Cognitive Behavioural Therapy 2023 verified solution
