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- Question 21
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Question 21/42
The Pareto Principle is sometimes also known as what?
Correct Answer: C
Pareto is the 80:20 rule- this can be adapted to talk about supplier relationships, where instead of having 2 categories there are now 3 (A B and C). CIPS use the terms Pareto and ABC interchangeably. See p.16 for further information
- Question List (42q)
- Question 1: Which of the following is not a type of tender process used ...
- Question 2: Which of the following would not affect rivalry in a marketp...
- Question 3: Danny is procuring a new IT software, which he doesn't know ...
- Question 4: Which of the following are not stages of team development? S...
- Question 5: In public sector procurement, tenders are advertised with CP...
- Question 6: One of the fist stages of designing a Partnership is to come...
- Question 7: Achieving value for money can often be described as the thre...
- Question 8: Rachel and Jacky work in the procurement department of Foddy...
- Question 9: A supplier is working with a buyer who represents a large pe...
- Question 10: Lion Manufacturing is about to enter into a partnership with...
- Question 11: According to Mendelow, there are four ways stakeholders can ...
- Question 12: A competitive advantage can be gained by doing what?...
- Question 13: Partnership sourcing is often considered a 'high-risk' strat...
- Question 14: Beyond Say is a manufacturer of diamond rings. It sources a ...
- Question 15: Pablo has run an open- competition to secure a new contract ...
- Question 16: Early Supplier Involvement can be described as a collaborati...
- Question 17: Which of the following is characteristic of an adversarial r...
- Question 18: What is a disadvantage of including qualitative KPIs into a ...
- Question 19: Brian Air is a company that is trying to break into the air ...
- Question 20: A manufacturing company which produces showers struggles to ...
- Question 21: The Pareto Principle is sometimes also known as what?...
- Question 22: Robbie is a procurement manager at a public sector organisat...
- Question 23: Which of the following are Intellectual Property Rights that...
- Question 24: Lee is a procurement manager at Real Pirates Ltd and he has ...
- Question 25: Jenny is a procurement manager who works in the public secto...
- Question 26: In public sector procurement, according to EU legislation, c...
- Question 27: Supplier development should be undertaken with all suppliers...
- Question 28: Under what circumstances should a competitive tender not be ...
- Question 29: Tim manages the procurement department at a large retailer. ...
- Question 30: In a partnership who is responsible for decision making?...
- Question 31: The Queen Victoria is a traditional British pub which serves...
- Question 32: When developing a supplier partnership, a buyer can take eit...
- Question 33: A 'synergy' within a partnership can lead to what?...
- Question 34: What is value mapping?
- Question 35: Which of the following factors would you use to analyse the ...
- Question 36: Which of the following relationship types would you consider...
- Question 37: When outsourcing, which legislation details the rights of em...
- Question 38: What is collaborative inertia?
- Question 39: Mandy is looking to source windows and doors for a new build...
- Question 40: George is running a competition to find a supplier to instal...
- Question 41: If a stakeholder has high power in a business but isn't inte...
- Question 42: Polly Manufacturing is a company which manufactures bicycle ...
