Assess Your Procurement Knowledge on Maximizing Added Value!

To identify and develop new markets and suppliers.

To engage with other stakeholders in the organization to fully understand sources of added value. (correct)

To pursue different approaches to try and meet customer expectations.

To differentiate the organization's offering through innovation.

By being less expensive than alternative suppliers.

By meeting additional benefits, both tangible and intangible. (correct)

By having a longer history of providing goods and services.

By offering the exact same goods or services as alternative suppliers.

Procurement which prioritizes the economic impact of the product or service over the environmental and social impacts.

Procurement which supports the sustainability goals of the organization and optimizes the environmental, social and economic impacts over the lifecycle of the product or service. (correct)

Procurement which prioritizes the social impact of the product or service over the environmental and economic impacts.

Procurement which focuses solely on the environmental impact of the product or service.

<p>A procurement strategy that looks at finding new markets and suppliers which are able to support growth.</p> Signup and view all the answers

<p>Reduced input costs.</p> Signup and view all the answers