Podcast
Questions and Answers
What is the purpose of the Plan Procurement process?
What is the purpose of the Plan Procurement process?
- To create a forecast of the company's financial performance.
- To develop a plan to guide the activities of the Human Resources department.
- To conduct market and statistical surveys for cost analysis.
- To harmonize individual procurement plans of Business Units to harness economies of scale. (correct)
What does the Annual Procurement Plan reflect?
What does the Annual Procurement Plan reflect?
- The current year's actual procurement activities.
- The financial performance of the company.
- All foreseeable procurement items required for the budget year. (correct)
- Only the high-value procurement items.
When should the pre-budget approved Procurement Plan be developed?
When should the pre-budget approved Procurement Plan be developed?
- At the beginning of each financial year.
- By the second quarter of each year. (correct)
- By the end of the financial year.
- It is not time-bound.
What is one of the steps involved in developing the pre-budget approved Procurement Plan?
What is one of the steps involved in developing the pre-budget approved Procurement Plan?
What does the Plan Procurement process aim to align with procurement needs?
What does the Plan Procurement process aim to align with procurement needs?
What does the Annual Procurement Plan include?
What does the Annual Procurement Plan include?
What is one objective of the Plan Procurement process?
What is one objective of the Plan Procurement process?
What is required to be reflected in the Annual Procurement Plan?
What is required to be reflected in the Annual Procurement Plan?
When should a pre-budget approved Procurement Plan be developed?
When should a pre-budget approved Procurement Plan be developed?
What step should be taken in developing a pre-budget approved Procurement Plan?
What step should be taken in developing a pre-budget approved Procurement Plan?
What is included in a Procurement Plan?
What is included in a Procurement Plan?
When is the post-budget approved Procurement Plan developed?
When is the post-budget approved Procurement Plan developed?
What does the Procurement Planning Committee do?
What does the Procurement Planning Committee do?
What is involved in quarterly reviews of the Procurement Plan?
What is involved in quarterly reviews of the Procurement Plan?
What is the role of the SCM team in procurement planning?
What is the role of the SCM team in procurement planning?
When does pre-budget planning involve each Business Unit preparing a Procurement Plan?
When does pre-budget planning involve each Business Unit preparing a Procurement Plan?
What is the frequency of updating the Procurement Plan Compliance Report?
What is the frequency of updating the Procurement Plan Compliance Report?
Who is responsible for approving the recommendations for adoption in subsequent quarters?
Who is responsible for approving the recommendations for adoption in subsequent quarters?
What is the basis of measurement for the timeliness of developing the Procurement Plan?
What is the basis of measurement for the timeliness of developing the Procurement Plan?
Who is responsible for receiving the Business Plan input?
Who is responsible for receiving the Business Plan input?
What is the type of document for Approved Budget input?
What is the type of document for Approved Budget input?
How often is the Business Plan input required?
How often is the Business Plan input required?
Who should update the Procurement Plan Compliance Report as required?
Who should update the Procurement Plan Compliance Report as required?
What is the target for 'Quality of the Procurement Plan' performance measure?
What is the target for 'Quality of the Procurement Plan' performance measure?
Who should receive the Procurement Plan output as required?
Who should receive the Procurement Plan output as required?
What is the basis of measurement for compliance to the Procurement Plan?
What is the basis of measurement for compliance to the Procurement Plan?
Study Notes
- NNPC Limited follows a systematic procurement planning process for efficient implementation.
- A post-budget approved Procurement Plan is developed based on an approved budget.
- A Procurement Plan includes a description of the goods/works/services, quantity, proposed procurement method, and estimated timeline.
- A Procurement Planning Committee is established with representation from various functions for guidance and decision-making.
- The committee identifies goods, works or services, conducts market surveys and prescribes procurement methods.
- The SCM team consolidates Business Unit Procurement Plans and prepares a consolidated Procurement Plan.
- The SCM team forwards the consolidated Procurement Plan to senior management for approval and inclusion in the budget.
- Quarterly reviews and updates of the Procurement Plan ensure compliance and identify opportunities for improvement.
- Pre-budget planning involves each Business Unit preparing a Procurement Plan for approval by their head.
- The SCM team consolidates Business Unit Procurement Plans and sets up a Procurement Planning Committee to review and aggregate requirements.
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Description
Learn about the Plan Procurement process which defines policies and procedures for creating a Procurement Plan, including estimated value, time schedule, and method of procurement.
