Tulip Rose Industries is using a restricted approach to tendering for a new contract for the facilities management of their seven factories which produce furniture made of organic materials. What is likely to be the reason they are using a restricted approach?
A supplier operates in a monopolistic market where the threat of entry is low. The product that they offer is key in manufacturing certain types of submarines and there is no known substitute for the product at present. What type of sourcing relationship is a buyer likely to have with this supplier?
According to the CIPS code of conduct, which laws should a procurement professional adhere to?
One approach to managing supply risk is having multiple suppliers for a product. Which condition justifies multiple sourcing?
The bill of lading is one of the main documents associated with sea freight within international sourcing. Which of the following statements represent some of the uses of the bill of lading? Select TWO that apply.
A procurement manager has decided to use a local newspaper to source quotes from external suppliers. Why is it important to advertise tenders? Select TWO that apply.
When conducting an ABC analysis- what category of items and type of suppliers would you typically find in the A category?
The procurement manager has received the following data from the supplier's accounts to facilitate the calculation of the supplier's current ratio:
Current Assets: Stock $200; Debtors $60; Cash $40; Total $300
Short Term Liabilities: Bank overdraft $150
Which calculation will the procurement manager use to find out the current ratio?
Guillerme is a Category Manager within the procurement department of a Manufacturing company. In his Category there are 200 items he procures, and he has recently undertaken an ABC analysis of these. Which of the following items would be C category items?
