Podcast
Questions and Answers
Which of the following is NOT considered when determining the 'price' of a goods or service?
Which of the following is NOT considered when determining the 'price' of a goods or service?
- Unit Price
- Payment Terms
- Currency Fluctuations (correct)
- Volume Discounts
What is the main objective of aligning procurement practices with an organization's broader strategic objectives?
What is the main objective of aligning procurement practices with an organization's broader strategic objectives?
- To prioritize financial savings
- To enhance efficiency and long term survival (correct)
- To focus solely on the best price
- To select suppliers that offer the best value
Why is it important to consider additional costs when determining the 'price' of a goods or service?
Why is it important to consider additional costs when determining the 'price' of a goods or service?
- Additional costs are not relevant in procurement decisions
- Additional costs can impact the effective overall price (correct)
- Additional costs are included in the unit price
- Additional costs are always higher than the unit price
Which factor should be considered when evaluating the total cost of procurement?
Which factor should be considered when evaluating the total cost of procurement?
What could be a potential disadvantage of choosing a supplier solely based on lower prices?
What could be a potential disadvantage of choosing a supplier solely based on lower prices?
Why did Organisation A find that Supplier Y's effective price was lower than Supplier X's?
Why did Organisation A find that Supplier Y's effective price was lower than Supplier X's?
Which of the following is a benefit of effective communication in managing supplier issues?
Which of the following is a benefit of effective communication in managing supplier issues?
Why is effective communication important in managing supplier issues?
Why is effective communication important in managing supplier issues?
How does effective communication contribute to managing supplier issues?
How does effective communication contribute to managing supplier issues?
Which of the following is a benefit of effective communication in managing supplier issues?
Which of the following is a benefit of effective communication in managing supplier issues?
Why is it important to consider additional costs when determining the 'price' of a goods or service?
Why is it important to consider additional costs when determining the 'price' of a goods or service?
How does effective communication contribute to managing supplier issues?
How does effective communication contribute to managing supplier issues?
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