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Total 383 Questions | Updated On: Nov 19, 2024

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Question 1

According to Michael Porter, what is procurement?

A : a support activity which provides a source of competitive advantage

B : a primary activity which provides a source of competitive activity

C : a primary activity which provides value for money

D : a secondary activity which provides value for money

Answer: A

Question 2

A procurement team is classifying purchase products and services by using Kraljic model. To position the items on the correct quadrant, they have to assess the supply risks associated with each group of items. In order for the procurement team to assess the level of risk, which of the following should be considered? Select TWO that apply.

A : Position

B : Impact

C : Probability

D : Guarantee

E : Elimination

Answer: B,C

Question 3

Violet Ltd is in the process of acquiring advanced robotic arms for its upcoming manufacturing facility. Given the rapid pace of technological advancements in the market, Violet Ltd aims to procure the most innovative technology available. However, the company has not established connections with any suppliers yet. What would be the most effective strategy for Violet Ltd to discover potential suppliers of cutting-edge robotic arms?

1. Attend industry trade shows.

2. Request referrals from current suppliers.

3. Search for vendors in the Yellow Pages directory.

4. Research publicly listed companies in the sector.

A : 1 and 3 only

B : 1 and 2 only

C : 1 and 4 only

D : 2 and 4 only

Answer: C

Question 4

Partnership relationships are long-term relationships without a defined end period. Is this statement TRUE?

A : No- partnerships should have end dates so both parties have a way out if things don't work out

B : No- partnerships have end dates as they are contractual relationships

C : Yes-partnerships do not have end dates because they involve significant investment

D : Yes- partnerships do not have end dates because there is never a contract involved

Answer: C

Question 5

Delivery lead time has been becoming a headache for procurement team at Hanan Ltd. While its customer is demanding on high product availability, the suppliers have difficulties in meeting the lead time target. How can procurement team shorten the lead time?

A : Order more products in advance and store them in a warehouse.

B : Communicate with the suppliers and agree on lead time of 1 hour.

C : Cancel the orders that are delayed and ask for a refund from the suppliers.

D : Ignore the customer complaints and focus on the quality of the products.

Answer: A

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Total 383 Questions | Updated On: Nov 19, 2024

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