Indirect procurement - Study guides, Class notes & Summaries

CIPS D1 QuestionsQ1 (a) Define the term 'stakeholder' in relation to an organization. (5 marks) (b) Describe the interests of TWO internal stakeholders of the procurement function. (10 marks) (c) Describe how the TWO internal stakeholders, identified in part (b), might contribute to procurement activities. (10 marks) Q2 (a) Outline THREE pre contract award stages of the sourcing process. (9 marks) (b) Explain FOUR advantages for an organisation of following a structured sourcing process...

CIPS L4M1 (Management) SCOPE AND INFLUENCE OF PROCUREMENT AND SUPPLY COMPLETE STUDY GUIDE QUESTIONS AND ANSWERS.

CON 170 TEST NUMBER 1 25 QUESTIONS/4 POINTS EACH 1. The term “cost or pricing data” means all facts that, as of the date of agreement on the price of a contract (or the price of a contract modification), or, if applicable consistent with subsection (e)(1)(B), another date agreed upon between the parties, a prudent buyer or seller would reasonably expect to affect price negotiations significantly. Such term does include information that is judgmental, but does not include the factual inform...

CIPS L4M1 Scope and Influence of Procurement and Supply Exam With Complete Solutions 2024 What is Procurement? Procurement is a STRATEGIC function of a business obtains something Tangible as goods or Intangible as services. Include Purchasing Inventory, Logistics, Supply, Waste Management Quality, Cost, Added Value What is Purchasing? Is the ACT of physically ordering and buying something. What is Supply? Is the INFRASTRUCTURE which ensures that products and services get from supplier ...

Innovation, sustainability, meeting KPI's and market development are all examples of added ___? - ANSWER Value ____ costs are not directly attributable to the end product or service - ANSWER Indirect Which of the following are recognised categories of expenditure within procurement: Direct, Indirect, Capital, Operational, Fixed, Variable - ANSWER Direct, Indirect, Capital and

5 process groups - Initiating Planning Executing Monitoring and Controlling Closing ten knowledge areas - Integration Scope Time Cost Quality HR Communications Risk Procurement Stakeholder management total float formula - total float = late finish - early finish normal distribution - bell curve - symmetrical distribution - 50% chance of falling below the mean and 50% chance of falling above the mean (1sigma=68.27%. 2sigma = 95.45%. 3sigma= 99.73%) triangular distribution...

Optimizing and Satisfying - ANSWER-Goals of the organization Transaction Costs - ANSWER-The Costs of doing business. The determinants of transaction costs are frequency, specificity, uncertainty, limited rationality, and opportunistic behavior. Also can apply to every day interactions Cost of uncertainty - ANSWER- Bounded Rationality - ANSWER- Incomplete Contracts - ANSWER- MECE - ANSWER-Mutually Exclusive Collectively Exhaustive From McKinsey Mutually Exclusive - ANSWER-Is ...

ITPM Chapter 12 Complete Questions with 100% Correct Answers Many private companies use the term procurement instead of purchasing. False The cost savings and use of offshore resources lower inflation, increase productivity, and lower interest rates. True Most people view offshore outsourcing as being good. False Many companies are realizing that they can use offshore outsourcing and create more jobs at home. True Few organizations use some form of outsourcing to meet th...

CTCD 2023 Exam || Questions & Answers (100% Accurate) CTCD 2023 Exam || Questions & Answers (100% Accurate) What is VPTS? - ANSWER - Vendor Performance Tracking System Allows agencies to score vendors, track vendor performance, and provides information to contract developers. The VPTS collects vendor performance reports from agencies. VPTS thresholds and requirements - ANSWER - Agencies are required by statute to report on the VPTS. *Reports are required w/in 30 days of contrac...

BUAD 331 Exam 2 Questions And Answers (Verified And Updated) Sourcing is the inputs (or things we buy), including materials, sub-assembled components, equipment, and services, that are required to create value. A. True B. False B. False Which of the following is NOT an area in which successful supply managers need expertise? A. Technologies B. Customers C. Suppliers D. Processes E. Resources B. Customers When purchasing and supply management works well within an organization,...