Procurement purchasing - Study guides, Class notes & Summaries

CON 170 Fundamentals of Cost and Price Analysis MIDTERM EXAM_2023. 1. Which of the following statements most closely summarizes government pricing objectives? b. Acquire goods and services from responsible sources at fair and reasonable prices. 2. As a contract specialist, you should be aware that: a) Different sellers in the same market may have different pricing objectives and approaches. b) Sellers in different markets often have different approaches to contract pricing. c) A single fir...

What is Procurement? - ANSWER 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? - ANSWER Is the ACT of physically ordering and buying something. What is Supply? - ANSWER Is the INFRASTRUCTURE which ensures that products and services get from supplier to the customer.

Define procurement - ANSWER Procurement is the process of obtaining goods or services through following a process that includes identifying the need through to goods or services being delivered. Define purchasing - ANSWER Purchasing is the act of physically ordering and buying something. Define supply - ANSWER Supply is the infrastructure which ensures goods/services can be delivered Define value - ANSWER Value is the worth of something, the difference between what we pay and what a pot...

Procurement - ANSWER Procurement is a strategic function of the business, includes the elements such as : Added Value, Cost, Inventory, Logistics, Purchasing, Quality, Supply. Purchasing - ANSWER Purchasing is the act of physically ordering and buying something. It can be can be tangible or intangible. Supply - ANSWER Supply is the infrastructure which ensures that products or services get from supplier to customer. Procurement can be direct and indirect, tangible and intangible, stock ...

CIPS L4M1 Exam Questions and Answers 100% CorrectCIPS L4M1 Exam Questions and Answers 100% CorrectCIPS L4M1 Exam Questions and Answers 100% CorrectCIPS L4M1 Exam Questions and Answers 100% CorrectCIPS L4M1 Exam Questions and Answers 100% CorrectCIPS L4M1 Exam Questions and Answers 100% Correct Define procurement - ANSWER-Procurement is the process of obtaining goods or services through following a process that includes identifying the need through to goods or services being delivered. Define...

Well-structured SCH4801 Assignment 2 (ANSWERS) 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..... SECTION A TOTAL:[24 MARKS] Please read the case study below before answering any questions. SCH4801 ASSIGNMENT 2 2024 Page 7 of 16 Nando’s: A Triumph of Supply Chain Excellence Nando’s, a South African casual dining restaurant chain renowned for its delectable flame-grilled peri-peri chicken, has had a remarkable journey that started in 1987 in Johannesburg, So...

Fiscal Law Final Exam - Questions and Answers QUESTION 1 1. It is appropriate for the Army to acquire lawn cutting services through the Project Order Statute. True False QUESTION 2 1. The proper amount of money to obligate at the award of a firm fixedprice contract is: The full amount of the contract. Nothing until the contractor performs the required work. Half of the total liability. A conservative amount based on the government’s estimated future requirements. QUESTION 3 1. How long does t...

The Purchasing process - ANSWER 1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Follow up Definition of Procurement & Supply - ANSWER recognition of the fact that the purchasing function has a role in not just "buying inputs" but in "securing supply" Direct Costs - ANSWER These are costs which can be identified directly with the production of a good or service; e.g. raw materials. Usually strategic or leverae suppl...

CTCM (SPD Exam Study Guide 2024) with Complete SolutionsCTCM (SPD Exam Study Guide 2024) with Complete SolutionsCTCM (SPD Exam Study Guide 2024) with Complete SolutionsCTCM (SPD Exam Study Guide 2024) with Complete Solutions Procurement Roles - ANSWER-Purchasing, contract development and contract management Purchasing - ANSWER-Receipt and processing of requisitions, issuance of purchase orders against existing contracts, and verification of inspection of merchandise or receipt of services. D...

CIPS Level 4 Module 1 Questions and Answers 100% AccurateCIPS Level 4 Module 1 Questions and Answers 100% AccurateCIPS Level 4 Module 1 Questions and Answers 100% AccurateCIPS Level 4 Module 1 Questions and Answers 100% Accurate The Purchasing process - ANSWER-1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Follow up Definition of Procurement & Supply - ANSWER-recognition of the fact that the purchasing function has a role in not...