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Procurement Process: Supplier Evaluation

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Procurement Process: Supplier Evaluation

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Questions and Answers

What is the primary purpose of evaluating proposals from different suppliers?

To eliminate potential conflicts of interest

To identify the supplier that can best meet the business's needs (correct)

To create a long-term contract with a single supplier

To compare prices among suppliers

What is a potential outcome of a well-planned supplier selection process?

Developing long-term relationships with suppliers (correct)

Reducing the overall value of products and services

Increasing purchase risk

Creating contractual conflicts

What is the final stage of the supplier selection process?

Selecting the best supplier

Submitting requests for proposals

Evaluating and comparing proposals

Finalizing the supplier agreement and relationship management (correct)

What is the purpose of supplier evaluation?

To assess and approve potential suppliers Signup and view all the answers

What is the purpose of evaluating suppliers?

To select the best fit for an organization Signup and view all the answers

What is the benefit of supplier selection process in terms of risk management?

Reducing purchase risk Signup and view all the answers

What can be avoided through the supplier selection process?

Potential conflicts of interest between mutually agreed contracts Signup and view all the answers

What is the purpose of a request for proposal (RFP)?

To provide a list of requirements to potential suppliers Signup and view all the answers

Why is shortlisting suppliers recommended?

To reduce the time wasted on unqualified suppliers Signup and view all the answers

What is one of the criteria that a café may consider when evaluating suppliers?

Supply affordability Signup and view all the answers

What should a request for proposal (RFP) include?

A list of requirements, timeline, and terms and conditions Signup and view all the answers

What is the outcome of the shortlisting process?

A list of the best fit suppliers Signup and view all the answers

What is the primary purpose of the 10 Cs of supplier evaluation?

To establish a reliable method of assessing potential suppliers Signup and view all the answers

What is a key aspect of a supplier's corporate social responsibility?

Minimizing environmental impact Signup and view all the answers

What is essential for a supplier to establish in terms of communication?

A main method of communication Signup and view all the answers

What is a benefit of using the 10 Cs of supplier evaluation?

It levels the playing field for supplier evaluation Signup and view all the answers

What is a key aspect of a supplier's business practice?

Practicing ethical business Signup and view all the answers

What is a supplier's responsibility towards the environment?

To reduce their adverse environmental impact Signup and view all the answers