Podcast
Questions and Answers
NNPC Limited SCM Processes and Procedures Manual was issued on 19/01/2023
NNPC Limited SCM Processes and Procedures Manual was issued on 19/01/2023
True (A)
The document contains 5 sections in total
The document contains 5 sections in total
False (B)
The Category Management section has 3.4 Category Management Input & Output Documents
The Category Management section has 3.4 Category Management Input & Output Documents
False (B)
The Purchase Requisition Key Performance Indicators are located in section 4.4
The Purchase Requisition Key Performance Indicators are located in section 4.4
NNPC Limited SCM involves 15 steps in their Supply Chain Management processes.
NNPC Limited SCM involves 15 steps in their Supply Chain Management processes.
Emergency Procurement only involves procedures and key performance indicators.
Emergency Procurement only involves procedures and key performance indicators.
Purchasing Cards (P-Cards) does not require any policies and procedures.
Purchasing Cards (P-Cards) does not require any policies and procedures.
ADMs are responsible for the disposal of assets within the organization
ADMs are responsible for the disposal of assets within the organization
Warehousing does not involve any input & output documents.
Warehousing does not involve any input & output documents.
CAPEX stands for Corporate Affairs, Safety, Health, Environment, and Security
CAPEX stands for Corporate Affairs, Safety, Health, Environment, and Security
The abbreviation CFO stands for Chief Financial Officer
The abbreviation CFO stands for Chief Financial Officer
Stock Write-Off & Disposal has no key performance indicators.
Stock Write-Off & Disposal has no key performance indicators.
ICB stands for International Competitive Bidding
ICB stands for International Competitive Bidding
Asset Disposal Committee is responsible for recommending the best method of disposing obsolete or surplus equipment or stock.
Asset Disposal Committee is responsible for recommending the best method of disposing obsolete or surplus equipment or stock.
Authority for Expenditure is a budgetary document that authorizes an individual or group to spend a certain amount of money for a project.
Authority for Expenditure is a budgetary document that authorizes an individual or group to spend a certain amount of money for a project.
NCDMB stands for Nigerian Content Development & Monitoring Board
NCDMB stands for Nigerian Content Development & Monitoring Board
EOQ stands for Engineering, Operations, and Quality
EOQ stands for Engineering, Operations, and Quality
Bill of Engineering Measurement and Evaluation lists all work items, their estimated quantities and cost.
Bill of Engineering Measurement and Evaluation lists all work items, their estimated quantities and cost.
NNPC Limited SCM involves 16 steps in their Supply Chain Management processes.
NNPC Limited SCM involves 16 steps in their Supply Chain Management processes.
LC stands for Letter of Credit
LC stands for Letter of Credit
NNPC Limited SCM involves 14 steps in their Supply Chain Management processes.
NNPC Limited SCM involves 14 steps in their Supply Chain Management processes.
MRP stands for Materials Return Policy
MRP stands for Materials Return Policy
Stock Review involves only policies and procedures.
Stock Review involves only policies and procedures.
Operating Expense refers to costs incurred through normal business operations.
Operating Expense refers to costs incurred through normal business operations.
Delegation of Authority outlines the powers and authority granted to NNPC's management for functions and responsibilities.
Delegation of Authority outlines the powers and authority granted to NNPC's management for functions and responsibilities.
Enterprise Resource Planning refers to technologies and systems managing core business processes in real time.
Enterprise Resource Planning refers to technologies and systems managing core business processes in real time.
Material Safety Data Sheet provides information on potential hazards and handling instructions for chemicals.
Material Safety Data Sheet provides information on potential hazards and handling instructions for chemicals.
Single Goods Declaration is a customs document detailing unabridged information on imported or exported goods.
Single Goods Declaration is a customs document detailing unabridged information on imported or exported goods.
NNPC Limited SCM Processes and Procedures include a Pro-forma Invoice, which is a preliminary bill of sale sent to buyers before shipment or delivery.
NNPC Limited SCM Processes and Procedures include a Pro-forma Invoice, which is a preliminary bill of sale sent to buyers before shipment or delivery.
Turnaround Maintenance involves plant shutdowns for inspections, repairs, replacements, and overhauls.
Turnaround Maintenance involves plant shutdowns for inspections, repairs, replacements, and overhauls.
Vendor Management includes input & output documents and key performance indicators.
Vendor Management includes input & output documents and key performance indicators.
Bill of Quantities details specific measured quantities of items of work identified by drawings and specifications in tender documentation.
Bill of Quantities details specific measured quantities of items of work identified by drawings and specifications in tender documentation.
Capital Expenditure refers to spending on acquiring or upgrading productive assets for more than one accounting period.
Capital Expenditure refers to spending on acquiring or upgrading productive assets for more than one accounting period.
Material Return Form tracks the return of previously issued materials to the warehouse.
Material Return Form tracks the return of previously issued materials to the warehouse.
Request for Proposal solicits proposals from qualified contractors for goods, works, or services.
Request for Proposal solicits proposals from qualified contractors for goods, works, or services.
Business Unit in NNPC Limited is not a profit center focusing on specific products or services to specific market segments.
Business Unit in NNPC Limited is not a profit center focusing on specific products or services to specific market segments.
Study Notes
- Bill of Quantities: A document detailing specific measured quantities of items of work identified by drawings and specifications in tender documentation.
- Business Unit: A profit center within NNPC Limited focusing on specific products or services to specific market segments.
- Capital Expenditure: Spending on acquiring or upgrading productive assets for more than one accounting period.
- Delegation of Authority: Manual outlining the powers and authority granted to NNPC's management for functions and responsibilities.
- Delegation of Financial Authority: Document setting out financial thresholds and staff grades able to commit expenditure and incur liabilities.
- NNPC Limited SCM Processes and Procedures:
- Disposal Request Form: Initiates, documents, and tracks disposal process for assets.
- Expression of Interest: Formal notice inviting suppliers to register interest for goods or services.
- Economic Ordering Quantity: Ideal order quantity to minimize inventory costs.
- Enterprise Resource Planning: Technologies and systems managing core business processes in real time.
- Form M: Mandatory document for importation, valid for 180/365 days, with extensions and approvals from Central Bank of Nigeria.
- Goods Receipt Note: Receipt given to supplier for confirmation of delivery or acceptance of goods.
- Letter of Credit: Bank guarantee for payments under specified conditions.
- Material Issue Voucher: Documents issuing of materials to user department.
- Material Return Form: Tracks return of previously issued materials to warehouse.
- Material Safety Data Sheet: Provides information on potential hazards and handling instructions for chemicals.
- Material Transfer Voucher: Documents and tracks transfer of materials or equipment from one location to another.
- Operating Expense: Costs incurred through normal business operations.
- Pre-Arrival Assessment Report: Submitted to Nigeria Customs Service for assessment and clearance before cargo arrival.
- Pro-forma Invoice: Preliminary bill of sale sent to buyers before shipment or delivery.
- Purchase Order: Written authorization for suppliers to deliver goods or services at specified terms.
- Request for Proposal: Soliciting proposals from qualified contractors for goods, works, or services.
- Request for Quotation: Inviting qualified vendors to submit price quotes for purchasing goods, works, or services.
- Strategic Business Unit: Autonomous business unit within NNPC Limited, responsible for generating own operational results and earnings.
- Single Goods Declaration: Customs document detailing unabridged information on imported or exported goods.
- Turnaround Maintenance: Periodic maintenance involving plant shutdowns for inspections, repairs, replacements, and overhauls.
- Terms of Reference: Defines evaluation objectives, scope, responsibilities, and resources.
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Description
Test your knowledge of construction and business terminology with this quiz. It covers concepts like bill of quantities, business units, and capital expenditure.
