Indirect procurement - Study guides, Class notes & Summaries

SCMN 2150 Auburn Barto Test 2 Exam Questions With Verified Answers Supply management - answerThe identification, acquisition, access, positioning, management of resources and related capabilities the organization needs or potentially needs in the attainment of its strategic objectives. focuses on linking strategies and decisions related to the procurement of goods and services strategic sourcing (1) - answeran institutional procurement process that continuously improves and re-evaluates t...

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 ...

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

Why is the buy process so important to companies today? correct answers Because the buy process can generate sustainable advantage What type of purchase is high risk, high profit impact that requires long-term supplier relationships? correct answers Strategic items Kralijic's Portfolio Purchasing Model evaluates goods on two criteria. What are they? correct answers Supply risk and profit impact Which types of purchases include the modules and components that are used in production proc...

CIPS L4M1 Scope and Influence of Procurement and Supply P1/4. Questions and answers/ Procurement Procurement is a strategic function of the business, includes the elements such as : Added Value, Cost, Inventory, Logistics, Purchasing, Quality, Supply. Purchasing Purchasing is the act of physically ordering and buying something. It can be can be tangible or intangible. Brainpower Read More 0:07 / 0:15 Supply Supply is the infrastructure which ensures that products or services get...

ITPM Chapter 12 Complete Questions with 100% Correct Answers T/F: Suppliers are those organizations or individuals who provide procurement services. True T/F: While outsourcing, organizations should protect strategic information because it can become vulnerable in the hands of suppliers. True T/F: Project procurement management consists primarily of two processes: assessing procurements and controlling procurements. False T/F: If an organization has no need to buy any products...

COMPLETE CTCD TEST EXAM WITH 100% CORRECT ANSWERS. The procurement cycle - Correct Answer: 1. Procurement planning 2. Procurement method determination 3. Vendor solicitation 4. Contract formation and award 5. Contract management Fundamentals of procurement - Correct Answer: 1. Fairness/transparency 2. Best value for the state 3. Own the mission 4. Good steward of public records Texas comptroller of public accounts - Correct Answer: state tax collector, treasurer, accountant, develops a...

SCMN 2150: test #2 Exam Questions With Verified Answers 3 main steps of supply chain. - answer1. supply chain 2. strategic sourcing 3. procurement goal of supply management. - answerbuy products and services; at the right price; from the right source; at the right specification; in the right quantity; for delivery at the right time; to the right internal customer importance of supply management. - answerability to generate a sustainable advantage through lower costs, higher quality, and...

What is operational capacity composed of? human labor and the machine capacity needed for the conversion process Operational Management key activities tend to be the same for the production of a good or service. T/F? True what are three spend categories and commodities and what are some examples of each? 1. direct materials - ball bearings - fastners - body side moldings - engine componenets 2. indirect materials - office supplies - paper towels (maintenance/repair) 3. servic...

CTCD 2023 (To study for CTCD exam) Already Passed!! Texas SmartBuy Online Ordering System Statewide Contracts for non-IT goods and services: -Set-Aside (TCI & WorkQuest) -Term contracts -Managed contracts -TXMAS contracts Contract Value The initial value of the contract, INCLUDING anticipated extensions and renewals for the contract's full existence. Purchasing Authority The ability of an agency to purchase goods and services using state funds. Delegation of Purchasing Authority A...