Procurement and Sourcing Quiz
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Questions and Answers

What does procurement focus on?

  • Sourcing activities, negotiation with suppliers, and strategic selection of goods and services (correct)
  • Promoting products and services to customers
  • Quality control and production efficiency
  • Internal management processes
  • What is the importance of the procurement function?

  • Conducting financial audits and reporting
  • Managing customer relationships and marketing strategies
  • Ensuring a continuous flow of materials, products, and services while seeking cost reduction and maintaining quality levels (correct)
  • Overseeing employee training and development
  • What are the key inputs provided by the procurement department?

  • Employee benefits and compensation packages
  • Raw materials, intermediate goods, finished goods, and capital goods needed for business operations (correct)
  • Marketing materials and promotional items
  • Research and development resources
  • In the example of cereal manufacturing, what role does procurement play?

    <p>Purchasing grain, raw materials, packaging, and labeling products necessary for making breakfast cereal</p> Signup and view all the answers

    What does the procurement function seek to minimize?

    <p>Supply risk and costs</p> Signup and view all the answers

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