Purchasing Process Chain Quiz
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Purchasing Process Chain Quiz

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@RichSmokyQuartz

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Questions and Answers

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?

  • Intermediate
  • Institutions
  • Industrial Producer (correct)
  • Government and Public Sector

    • 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?

    <p>Finished products</p> Signup and view all the answers

    Which type of purchasing involves items purchased in their original form without significant processing?

    <p>Raw materials</p> Signup and view all the answers

    Which step in the purchasing process chain involves identifying needs and creating a product description & specification?

    <p>Step 1: Identifying needs</p> Signup and view all the answers

    What is the main focus of procurement compared to purchasing?

    <p>Acquiring goods, works, and services</p> Signup and view all the answers

    In the context of purchasing, what does 'Right stuff' refer to?

    <p>The correct items needed</p> Signup and view all the answers

    What does the term 'P-2-P Steps' refer to in the text?

    <p>Purchasing process chain steps</p> Signup and view all the answers

    What does procurement cover in terms of acquisitions?

    <p>Acquisitions from third parties and in-house providers</p> Signup and view all the answers

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