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Question 15/57
Procurement team is required to improve leverage with their suppliers through spend consolidation. To check whether there is any opportunity to consolidate spend, which of the following should be priority of procurement team?
Correct Answer: A
Explanation
In order to identify opportunities where you can increase your leverage with supplier, you need to understand your spend. Undertaking spend analysis of your accounts payable (AP) data is an essential first step here.
In order to identify opportunities where you can increase your leverage with supplier, you need to understand your spend. Undertaking spend analysis of your accounts payable (AP) data is an essential first step here.
- Question List (57q)
- Question 1: A negotiation is coming to the end. Both parties haven't had...
- Question 2: All of the following shift the supply of watchesto the right...
- Question 3: Which of the following are macroeconomic factors that may ha...
- Question 4: SBL provides contract bathroom furniture and fittings for a ...
- Question 5: XYZ Ltd decides to go to market for a cleaning contract to s...
- Question 6: Which of the following are most likely to be direct costs of...
- Question 7: Which of the following are effective approaches when procure...
- Question 8: In airline industry, suppliers prefer to adopt dynamic prici...
- Question 9: Understanding supplier's mark-up and margin can provide proc...
- 1 commentQuestion 10: Which of the following will help to indicate personality pre...
- Question 11: A procurement professional is negotiating with a supplier on...
- Question 12: Economic growth can be measured by...?...
- Question 13: An experienced procurement professional is developing strate...
- Question 14: According to Fiona Dent and Mike Brent, which of the followi...
- Question 15: Procurement team is required to improve leverage with their ...
- Question 16: A procurement manager is preparing fora negotiation with an ...
- Question 17: In a detailed cost breakdown, a company has a salary cost of...
- Question 18: Which of the following method should be used in negotiation ...
- Question 19: In which of the following persuasion methods, the influencer...
- Question 20: Which ofthe following is a true statement regarding macroeco...
- Question 21: Distributive approach in negotiation is typified by which of...
- Question 22: Are tactical ploys only used in distributive approach?...
- Question 23: Which of the following would cause a demand curve for a good...
- Question 24: Which of the following are factors that might shift the dema...
- Question 25: A procurement professional is sourcing low value items. He c...
- Question 26: Which of the following is the best description of direct cos...
- Question 27: Which of the following are examples ofnon-verbal negotiation...
- Question 28: Which of the following is the first step in the development ...
- Question 29: Collaborative approach in negotiation not only can fully sat...
- Question 30: A supplier's mark-up on all products is 25%. Supplier's prof...
- Question 31: Which type of question should be used to receive affirmation...
- Question 32: Jane is planning for a forthcoming negotiation with a key su...
- Question 33: Which of the following are types of questions that are usefu...
- Question 34: Representatives from South African Department of Health is n...
- Question 35: A purchasing manager is having a negotiation with a supplier...
- Question 36: Which of the following should be adopted to minimise the con...
- Question 37: Leitax is a consumer electronics firm with headquarters in t...
- Question 38: Which of the following is the process enabling the buyer to ...
- Question 39: Which of the following will positively affect reputational s...
- Question 40: According to Dr. Mari Sako, which of the following is potent...
- Question 41: Which of the following are most likely to turn buying organi...
- Question 42: A public agency opens a tendering process for a road buildin...
- Question 43: According to Professor Gavin Kennedy, in which of the follow...
- Question 44: Jasmine and the IHL sales team have a negotiation scheduled ...
- Question 45: When prices of input materials increase, supply curve shifts...
- Question 46: Ma Bell was the sole provider of landline telephoneservice t...
- Question 47: Sally is negotiating with an oversea supplier on the price a...
- Question 48: During a negotiation, a procurement manager suggests that th...
- Question 49: Which of the following are most likely to be fundamentals of...
- Question 50: Stalemate is morelikely to happen if both parties trade more...
- Question 51: Commercial negotiation ends at the award of a contract. Is t...
- Question 52: Which of the following best describes Leverage quadrant in K...
- Question 53: To buying organisation, savings can be achieved from differe...
- Question 54: From the principled point of view about negotiation environm...
- Question 55: There are no commitments in hypothetical questions. Is this ...
- Question 56: In a commercial negotiation,a procurement professional belie...
- 1 commentQuestion 57: Buying organisation may increase its leverage with suppliers...
