Indirect procurement - Study guides, Class notes & Summaries

CIPS L4M1 Scope and Influence of Procurement and SupplyWhat is Procurement? - correct 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? - correct answer Is the ACT of physically ordering and buying something. What is Supply? - correct answer Is the INFRASTRUCTURE which ensures that products and services get...

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% Correct 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 categori...

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

CIPS LEVEL 4 MODULE 1 EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ The Purchasing process Correct Answer: 1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Follow up Definition of Procurement & Supply Correct Answer: recognition of the fact that the purchasing function has a role in not just "buying inputs" but in "securing supply" Direct Costs Correct Answer: These are costs which can b...

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...

CIPS D1 Questions and correct answers 2024/2025 Q1 (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 followi...

SCM 301m Final Exam | Complete Solutions (Verified) In terms of supplier evaluation systems, quality, delivery, and cost management are ________. a. qualitative factors. b. quantitative indicators. c. macro variables. d. micro variables. Which of the followings does not describe RFQ? a. Based on buyer specification b. Strict buyer requirements c. Terms are negotiable d. Suppliers are qualified beforehand In order to save additional time, all types of request can be run in a/an __________ syste...

BUAD 331 Exam 2 Questions and Answers Already Passed 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, the com...

Answered) CIPS L4M1 Scope and Influence of Procurement and Supply 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 to the customer. Wha...

CIPS L4M1 EXAM SOLVED 100% CORRECT!! Stakeholders In any activity an organization undertakes, whether strategic, operational or tactical, the activity can only be successful with the input, commitment and support of its key stakeholders. Gaining and maintaining the support and commitment of stakeholders requires a continuous process of engaging the right stakeholders at the right time and understanding and managing their expectations. Global Supply Chains a dynamic worldwide network when a...