Podcast
Questions and Answers
What is the critical decision involved in options appraisal?
What is the critical decision involved in options appraisal?
- Deciding on the type of purchase to make
- Evaluating the 'make or buy' decision (correct)
- Choosing the right supplier
- Classifying organizational buyers
Which type of organization purchases goods for tangible production purposes with significant commercial value?
Which type of organization purchases goods for tangible production purposes with significant commercial value?
- Intermediate
- Institutions
- Industrial Producer (correct)
- Government and Public Sector
What do institutions as organizational buyers independently purchase goods and services for?
What do institutions as organizational buyers independently purchase goods and services for?
- Resale in consumer markets
- Patient care
- Facilitating the resale of other goods
- Organizational use (correct)
What type of purchase involves items ready for use or resale without requiring major processing?
What type of purchase involves items ready for use or resale without requiring major processing?
Which type of purchasing involves items purchased in their original form without significant processing?
Which type of purchasing involves items purchased in their original form without significant processing?
Which step in the purchasing process chain involves identifying needs and creating a product description & specification?
Which step in the purchasing process chain involves identifying needs and creating a product description & specification?
What is the main focus of procurement compared to purchasing?
What is the main focus of procurement compared to purchasing?
In the context of purchasing, what does 'Right stuff' refer to?
In the context of purchasing, what does 'Right stuff' refer to?
What does the term 'P-2-P Steps' refer to in the text?
What does the term 'P-2-P Steps' refer to in the text?
What does procurement cover in terms of acquisitions?
What does procurement cover in terms of acquisitions?
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