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L4M1 Questions and Answers

Question # 6

Explain 5 stages of the sourcing cycle that occur in the pre-contract stage (25 points)

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Question # 7

Explain what is meant by added value (5 points). Describe 4 ways the Procurement Department can add value for their organisation (20 points)

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Question # 8

Describe 3 stages of the sourcing cycle that occur in the post-contract award stage (25 marks)

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Question # 9

What is a P2P system (5 points)? Explain the impact that using IT systems can have on the way the Procurement department of an organisation functions (25 points).

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Question # 10

Describe the main differences between the three economic sectors: public, private and third. Your answer may make reference to the following: funding, ownership, shares, objectives and administration (25 marks)

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Question # 11

Bob is a procurement manager at ABC Ltd. He has been asked to ensure all future purchases achieve ‘value for money’ for the organisation. What is meant by ‘value for money’? (5 points). Describe 4 techniques that Bob could use to achieve this (20 points)

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Question # 12

What is meant by Stakeholder Mapping? Describe a tool that can be used by a Procurement Professional to map the stakeholders at their organisation (25 points)

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