L4M2 Exam Dumps - Defining Business Needs
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When purchasing routine items such as common stationery supplies. how can the business need for
efficiency be met?
1. Including incentives and penalties in contracts
2. Introducing e-procurement solutions
3. Introducing competitive bidding
4. Vendor Managed Inventory
To calculate the estimated annual payback period, a buyer will need to know the estimated annual savings made from implementing the option, and also the estimated costs. Is this statement correct?
When analysing competitive forces in a market, which of the following indicate that a supplier has low bargaining power? (Select TWO)
Variances occur when there are differences between the budgeted costs and the actual costs. When are labour cost variances likely to arise?
When the sales prices change over time due to inflation
When there is more overtime than is expected
When a different wage grade of worker is used to complete a task than was planned for
When the supplier changes from manual to electronic invoicing systems for all transactions
When analysing competitive forces in a market, which of the following can be seen as a supplier having low bargaining power? Select TWO that apply.
A company has a lists of items that make up 15% of total spend. These items also do not largely impact on quality of final product. The supply continuity is secured. Which of the following will be the most appropriate managing approach to purchase these items?
The procurement officer for Hunter Manufacturing has been tasked to procure a new manufacturing software management system. They have consulted all relevant internal stakeholders and have the following high-level requirements: flexibility throughout the project, and the supplier to recommend the best solutions for building the system. Which type of specification should be developed?
Which of the following factors would mean a buyer had high bargaining power in a competitive market? Select TWO that apply.