Classrep2

WHAT IS THE GOAL OF NEGOTIATION? - ANSWER To achieve a mutual goal referred as win-win agreement. STAGES OF NEGOTIATION - ANSWER 1. Planning 2. Actual Negotiation 3. Completion What are the objectives of a principled Negotiation? - ANSWER 1. produced a wise agreement 2. To be efficient 3. To achieve MUTUALLY satisfactory results for all parties FOUR PRINCIPLES OF NEGOTIATION - ANSWER 1. Separate people from the problem 2. Create a variety of options before deciding which pursue 3...

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 invitation? A. decline the supplier's o...

SWOT analysis - ANSWER a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats Pareto Principle - ANSWER 80% of purchasing cost is created by 20% of the purchase orders issued spend analysis - ANSWER process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring compliance procurement profile - ANSWER result produced after conducting a series ...

WHAT IS THE GOAL OF NEGOTIATION? - ANSWER To achieve a mutual goal referred as win-win agreement. STAGES OF NEGOTIATION - ANSWER 1. Planning 2. Actual Negotiation 3. Completion What are the objectives of a principled Negotiation? - ANSWER 1. produced a wise agreement 2. To be efficient 3. To achieve MUTUALLY satisfactory results for all parties FOUR PRINCIPLES OF NEGOTIATION - ANSWER 1. Separate people from the problem 2. Create a variety of options before deciding which pursue 3...

LAST-IN FIRST OUT (LIFO) - ANSWER Utilized in Private Sector. Due to taxes, it is beneficial to use the latest received item JUST-IN-TIME (JIT) INVENTORY - ANSWER Inventory system in which companies manufacture or purchase goods just in time for use. Technique focused on the inventory reduction and value- added activity. SCRAP - ANSWER Consist of ferrous and non-ferrous metal as well as non-metallic scrap such as wood, paper, plastic and other materials that do not meet requirements or st...

The Materials Manager for the Utility department has to keep parts and materials in stock to maintain all 42 pump stations as well as all the infrastructure to keep the town citizens supplied with clean, pure, well water. This service has to be provided 24/7, and all essential maintenance, repair parts, and pumps must be readily available. These deep well pumps cost tens of thousands of dollars, but if they are maintained correctly, they can last over 10 years. What should be done with a decommi...

Inputs - ANSWER Measures resources used. They include labor, materials, equipment, and supplies. Demand for services may also be considered an input metric. Outputs - ANSWER Record activity or effort that can be expressed in a quantitative or qualitative manner. Outcomes - ANSWER Asses results of an activity and show whether expected results were achieved. Must be benchmarked against other departments and outside organizations. A benchmark is simply a point of reference that can be used as...

Legal and statutory requirements - ANSWER An agency is revising its document retention schedule. To what should the governmental entity look for guidance? Cooperative Contract - ANSWER An agency is looking into cooperative purchasing practices. After conducting some analysis, the agency would like to "piggyback" its purchases with other agencies that are participating in cooperative purchasing. When using a "piggyback" method, what would the arrangement be called? Instituting a purchas...

Fixed-Price Escalation/De-escalation - ANSWER The procurement officer of the governmental agency has expressed serious concerns about the number of repetitive requisitions, solicitations and purchase orders that are being processed to purchase gasoline for the organization. Every time a new order is placed, another requisition is created and the prices paid by each department are not consistent; sometimes more and sometimes less depending on competition and timing. The buyer advises that the sol...

Surety - ANSWER A pledge or guarantee by an insurance company, bank, individual, or corporation on behalf of the bidder/proposer to satisfy the contractual obligations. accountability - ANSWER the principle that employees who accept an assignment and the authority to carry it out are answerable to a superior for the outcome. acceptance - ANSWER 1. Indication that all parties to the contract agree to be bound by the terms of the contract. 2. An indication by one party of a willingness to ...