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Total 426 Questions | Updated On: Nov 18, 2024

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Question 1

Which of the following would you use to determine the outcome of a competitive tender? Select TWO.

A : location

B : distribution

C : reputation

D : quality

E : price

Answer: D,E

Question 2

Which of the following are reasons to outsource part of a business to an external supplier? Select TWO.

A : the product or service is core to the organisation

B : there are more resources in-house

C : overheads can be kept as effective as possible

D : the reduction in the need to continually invest in new machinery

Answer: C,D

Question 3

Jamilla is looking to find a new supplier who can deliver raw materials of wood and paper to her company Woody Manufacturing Incorporated. The requirement is for regular orders of high volume. She has issued a Request for Quotation. What will this assess the suppliers on?

A : who can deliver the items the cheapest

B : who can deliver the highest quality items

C : the five rights of procurement

D : which price is the most ethical

Answer: C

Question 4

Yolo Inc. have recently run a tender opportunity to find a suitable supplier of yoyos and they have received a number of bids. The supplier will become a strategic partner to the business as yoyos are vital to the success to Yolo Inc. The tender asked for both price submissions and had a number of quality questions. Eamon is the Procurement Manager of Yolo Inc and is responsible for selectingthe most appropriate supplier. How should Eamon appraise the bids?

A : evaluate the bids himself as this is a complex requirement

B : evaluate the bids himself as this is a strategic purchase

C : organise a cross-functional team to assess the bids as people from other departments may have important information and experience of yoyos

D : organise a cross-functional team of procurement personnel as they will have experience in assessing price and quality of bids

Answer: C

Question 5

Why would you use a credit score to appraise a supplier?

A : to understand the level of risk the supplier poses to your organisation

B : to understand if their prices reflect market value

C : to find out how much money the supplier has in the bank

D : to find out if the supplier has any unethical business practices

Answer: A

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Total 426 Questions | Updated On: Nov 18, 2024

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