Define procurement - Study guides, Class notes & Summaries

CSI CDT Module 5 Exam Questions & Answers 2024/2025 What are the four C's for effective communication? - ANSWERSClear. Use proper grammar and simple sentence construction to avoid ambiguity. Concise. Eliminate unnecessary words, but not at the expense of clarity, correctness, or completeness. Correct. Present information accurately and precisely. Carefully select words that convey exact meanings. Complete. Do not leave out important information. (PDPG 11.3.5) What are the two m...

What is Tactical sourcing? - correct answer Low level decision making High profit, low risk items Short term projects Transactional relationships What is Strategic sourcing? - correct answer Top level decision making High profit, high risk items Long term projects Collaborative relationships What factors typically represent value to the procurement organisation when sourcing? - correct answer Price, Delivery, Quality, Ethics, Sustainability, Availability Novack and Simco's 11-sta...

CAPM Exam Knowledge Check with complete Solutions. Cost Variance formula ️ Earned Value (EV) - Actual Cost (AC) What are the 6 constraints? ️ Scope, Risk, Resources, Quality, Schedule, Budget Initiating (Process Group) ️ Processes performed to define a new PROJECT or a new PHASE of an existing project Planning (Process Group) ️ Processes performed to establish total scope of effort, define and refine objectives, and develop a course of action to attain the objectives Executing ...

Procurement is the act of correct answers acquiring, buying goods services or works from an external source why is wood procurement so important to the forest products industry correct answers -For production of some type of intermediate or finished product -guarantee as to where the wood originated -promotes sustainable production -promote local economies -reduce capital investment in forest land -lead to better managed forests Rank the following sources relative to the precent of wo...

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...

primary activities of the value chain - Answer-inbound logistics, operations, outbound logistics, marketing and sales, service The value chain - Answer-firm infrasture, human resource management, technology, procurement, inbound logistics, operations, outbound logistics, marketing and sales, service secondary activities of the value chain - Answer-procurement, human resources define inbound Logistics - Answer-arranging the inbound movement of materials, parts, and/or finished inventory ...

CSBI: Certified Specialist Business Intelligence Exam (2024 / 2025) Questions and Verified Answers 1. Identify fundamental purpose of engaging in analytics ~ Answer: understand what is happening and finding a path forward 2. Recognize the basic business functions of finance, marketing and operations ~ Answer: - operations is the function that meets the demand for a service or product by marketplace entities ~ Finance ensures monetary resources are in place to conduct operations ~ Marketing provi...

CPTC EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED CORRECT ANSWERS LATEST UPDATE GRADED A++ AOPO Association of Organ Procurement Organizations, non-profit national representative of OPOs, provides education, research, information sharing, and technical assistance. What is the non-profit national representative of OPOs? AOPO What association provides technical assistance, research, and education? AOPO CMS Centers for Medicare and Medicaid Services, part of DHHS and offers financial c...

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 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...