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Question 23/53
Daniel is evaluating bids from new suppliers who are looking to supply his company XYZ Indus-tries with components for manufacturing. Although price is important, Daniel wishes to consider 'added value'. Which of the following is considered an 'added-value solution'? Select THREE
Correct Answer: A,B,D
The correct answers are innovation, on time in full deliveries and sustainability.
The other options are pricing mechanisms rather than 'added value'. Added Value is giving the buyer something extra that's not necessarily financial. It can be as simple as delivering orders quicker than expected, or having a dedicated customer service phone line. Something that makes their lives a little easier.
The other options are pricing mechanisms rather than 'added value'. Added Value is giving the buyer something extra that's not necessarily financial. It can be as simple as delivering orders quicker than expected, or having a dedicated customer service phone line. Something that makes their lives a little easier.
- Question List (53q)
- Question 1: During which stage of the procurement cycle would you remove...
- Question 2: Damian is a procurement professional in the Public Sector. H...
- Question 3: A buyer in the public sector has put an advert out asking fo...
- Question 4: Which of the following are reasons to outsource part of a bu...
- Question 5: Which of the incoterms listed are suitable for transporting ...
- Question 6: A Bill of Exchange is an important document used when import...
- Question 7: When looking at credit scores, a supplier may be classified ...
- Question 8: The gross profit of a company can be calculated by using a s...
- Question 9: According to the CIPS code of conduct, which laws should a p...
- Question 10: What type of relationship should a buyer seek when making st...
- Question 11: Which of the following can be interpreted as a normal busine...
- Question 12: Incoterms describe several aspects and responsibilities of t...
- Question 13: Ivan is an investor who is looking to invest in new business...
- Question 14: Which of the following financial ratios would indicate a sup...
- Question 15: Which of the following Incoterms has the lowest risk for the...
- Question 16: Pierre is constructing a tender for a security contract. As ...
- Question 17: Which of the following are examples of secondary data? Selec...
- Question 18: Which of the following financial documents would show whethe...
- Question 19: Which of the following payment mechanisms is most beneficial...
- Question 20: Which of the following would you expect to find in an Invita...
- Question 21: In order to assess whether a company is able to meet its cur...
- Question 22: What is a risk of pre-warning a supplier that you will condu...
- Question 23: Daniel is evaluating bids from new suppliers who are looking...
- Question 24: If a company is described as 'liquid' what does this mean?...
- Question 25: Which of the following is a UK legislation concerning produc...
- Question 26: Achieving the 'five rights of procurement' is one of the key...
- Question 27: An organisation is keep to include Social Outcomes in it's a...
- Question 28: Commodities are items which can be traded on the stock excha...
- Question 29: Tulip Rose Industries is using a restricted approach to tend...
- Question 30: Which of the following would you use to work out a company's...
- Question 31: Which of the following are primary sources of data? Select T...
- Question 32: A buyer is only interested in working with suppliers who hav...
- Question 33: Philip is a procurement manager at XYZ Company which imports...
- Question 34: Amnesty International, Oxfam and CIPS are examples of what t...
- Question 35: For what type of purchase would you use a Futures Exchange?...
- Question 36: Ramesh is a procurement manager who is looking at his suppli...
- Question 37: When would a procurement professional use the Pareto princip...
- Question 38: Ali is the Category Manager at an airplane manufacturing fac...
- Question 39: What is a risk of pre-warning a supplier that you will condu...
- Question 40: What is the best way to prevent potential issues of conflict...
- Question 41: Which of the following are signs that modern-day slavery mig...
- Question 42: A procurement manager who works in the public sector has rec...
- Question 43: Dylan is looking to appoint a new supplier of paint to his m...
- Question 44: Polygon Incorporated is a new company in the mining industry...
- Question 45: Which of the following incoterms has the lowest risk to the ...
- Question 46: Bob works in the procurement department of a construction fi...
- Question 47: Raja is a procurement manager who is keen to gain further in...
- Question 48: Brooklyn Ltd is a manufacturer of windows and has a single s...
- Question 49: Robert is appraising suppliers and is keen to evaluate suppl...
- Question 50: Which of the following is not a indices that measures econom...
- Question 51: A company's balance sheet will show you which of the followi...
- Question 52: Why would you use a credit score to appraise a supplier?...
- Question 53: Which of the following items would you expect to find on a b...
