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Questions and Answers
Questions and Answers
What are the six procurement methods used by procurement teams in a company?
What are the six procurement methods used by procurement teams in a company?
- Open tendering, restricted tendering, request for proposal, two-stage tendering, request for quotations, and multiple-source procurement.
- Open bidding, restricted bidding, request for proposal, two-stage bidding, request for quotations, and single-source procurement.
- Open tendering, closed tendering, request for quotation, single-source procurement, two-stage tendering, and request for proposal.
- Open tendering, restricted tendering, request for proposal, two-stage tendering, request for quotations, and single-source procurement. (correct)
What does procurement complexity refer to?
What does procurement complexity refer to?
- The quality of goods or services purchased
- The level of difficulty involved in buying goods or services (correct)
- The ease of buying goods or services
- The cost of buying goods or services
What is the purpose of a purchasing system in a business?
What is the purpose of a purchasing system in a business?
- To acquire everything the business needs
- To control cash inflows
- To control cash outflows and acquire only what is needed at reasonable prices (correct)
- To make purchases at unreasonable prices
What is the difference between procurement and purchasing?
What is the difference between procurement and purchasing?
What is the purpose of the first procedure in two stage tendering?
What is the purpose of the first procedure in two stage tendering?
Why is procurement planning important?
Why is procurement planning important?
What is a key input to a purchasing system?
What is a key input to a purchasing system?
What was the initial focus of purchasing in organizations?
What was the initial focus of purchasing in organizations?
What is open tendering?
What is open tendering?
When does the bidder submit a financial proposal in two stage tendering?
When does the bidder submit a financial proposal in two stage tendering?
What determines the winning bidder in two stage tendering?
What determines the winning bidder in two stage tendering?
Which procurement method involves requesting a detailed proposal from potential suppliers?
Which procurement method involves requesting a detailed proposal from potential suppliers?
Is it possible for the production planning system to automatically place replenishment orders with suppliers?
Is it possible for the production planning system to automatically place replenishment orders with suppliers?
How does procurement planning facilitate efficient treasury management?
How does procurement planning facilitate efficient treasury management?
What is the definition of purchasing?
What is the definition of purchasing?
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