CIPS L4M2 - Defining Business Needs
Due to increasing demand, a local restaurant is requesting its fish vendor to supply larger quantity. The restaurant manager also asks the vendor whether it is possible to reduce the total price by 5%. This is known as...?
Which of the following problems may be identified as open-ended problems? Select TWO that apply:
A company department is writing a business case to justify the purchase of an expensive piece of capital equipment. Which of the following should be included in the business case?
Terms and conditions of contract
Tender evaluation criteria
Degree of added value
Financial plan
Would economies of scale be a barrier to entry for potential new entrants to a market?
When preparing through-life specification, which of the following requirements should procure-ment team define besides the physical asset? Select TWO that apply.
Azram, a procurement analyst, has been tasked with applying whole life asset management when purchasing a piece of laboratory equipment. Was this the correct course of action?
What are the direct risks that can result from procurement receiving inadequate specifications from a research and development department?
Which of the following agencies can produce a technical standard?
As the lead procurement manager you have been asked to compile a business case for a large project. Which of the following should you include in the business case?
Costs and risks
List of large suppliers
Business benefits
Informal recommendation
Which of the following factors would mean a buyer had high bargaining power in a competitive market? Select TWO that apply.
