Free Scope and Influence of Procurement and Supply Exam L4M1 Exam Practice Test
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Total Questions: 40
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Describe what is meant by the 5 Rights of Procurement (25 points)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
Explain what is meant by the term Inventory Management System? Describe MRP and ERP systems explaining when they are used and the advantages and disadvantages of using them (25 points)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
Explain the impact that having a Corporate Governance Framework can have on the policies and processes of the procurement department (25 points)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
Explain what is meant by added value (5 points). Describe 4 ways the Procurement Department can add value for their organisation (20 points)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
What is an electronic system? Describe the following: e-requisitioning, e-catalogues, e-sourcing, e- payment technologies (25 marks)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
What is meant by Stakeholder Mapping? Describe a tool that can be used by a Procurement Professional to map the stakeholders at their organisation (25 points)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
What is meant by a structured procurement process? (10 marks) Why is this important? (15 marks).
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t, ,b,e,l,o,w,. Next Question -
Describe the main differences between the three economic sectors: public, private and third. Your answer may make reference to the following: funding, ownership, shares, objectives and administration (25 marks)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
Discuss 3 areas of regulation relating to competition that a procurement professional should be aware of (25 points)
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question -
What is meant by the term ‘centralised procurement’? (10 points) Explain 2 forms of Hybrid Procurement Structures (15 points).
Answer: S,e,e, ,t,h,e, ,s,o,l,u,t,i,o,n, ,i,n, ,E,x,p,l,a,n,a,t,i,o,n, ,p,a,r,t Next Question
Total Questions: 40