Innovation is a key consideration when entering into a partnership. Is this statement true?
Cigarettes and alcohol are often described as having an ‘inelastic price’. What does this mean?
Which of the following is characteristic of an adversarial relationship?
Agile Cars Ltd is creating a ‘lean’ business model which involves receiving deliveries of components only when they are required. Which of the following ‘wastes’ is being removed from the business?
Which of the following is not a stage in the relationship life-cycle?
A company has just hired a new cleaning firm to clean their offices. The specification for the clean was detailed in an appendix in the contract and included a list of pre-approved products that the cleaning firm should use. The cleaners that were sent to site had not read the contract and therefore did not use the appropriate products. What is the reason for the failure of this?
Fred is a new procurement manager at a large engineering firm. They procure 100s of components and use these to make kitchen appliances such as kettles and toasters. He has been asked by his manager to look into procuring a new component which will go into a new environmentally friendly kettle and has been asked to ensure that the firm receives value for money. What should Fred do?
Which of the following documents would you expect a supplier to submit as part of a Request for Proposal? Select THREE
Which of the following are Intellectual Property Rights that you would you encounter in procurement and supply contracts? Select THREE.
The use of technical jargon can result in what?
What is the correct order of the stages of team development?
What is value mapping?
Kirsty is designing a specification for a new contract and wants to include some qualitive KPIs for the new supplier, as well as quantitative. Which of the following could she include? Select TWO.
Value for money in the private sector is concerned with what?
Which of the following are possible drivers for partnership sourcing? Select THREE.
Grey Stone Memorial Hospital is a private medical facility which has an idea for a vaccine to a deadly disease, but does not have the capacity to make the vaccine itself. It is considering partnering with a well-known pharmaceutical company in order to bring the vaccine to market. What is the biggest risk to Grey Stone?
The Kraljic Model is most useful for which aspect of procurement?
Harry runs a hotel and has recently decided to contract an external supplier to provide the cleaning of the rooms. What is a disadvantage of doing this?