Practice Test 5 & 6 - L4M6 Flashcards
(26 cards)
According to partnership model by Lambert et al, Type 1 partnership relationship is typified by what?
Communication is conducted on ad hoc basis
The relationship involves only one division or functional area within each organisation
How can the procurement team enhance value for the purchasing organisation in the period between tender evaluation and contract award?
Hold reverse e-auction
Open post-tender negotiation
What mnemonic describes the criteria of setting objectives in a partnership relationship?
SMART
TUPE?
Transfer of undertaking Regulations 2006 - Legal framework in UK, protects employees terms and conditions when a business or service provision is transferred to a new employer.
What is the fundamental tool for examining the origins of competitive advantage?
The value chain
What is the framework that helps management team know how individuals respond to change?
Kubler-Ross model
Partnership sourcing is highly effective when it is applied to which of the following?
High-value, high-risk items
How does Common Procurement Vocabulary (CPV) help with public procurement in the EU?
To send the contract opportunities to interested suppliers
What kind of market will have the least obstacles for new entrants?
Perfect Competition
What are some methods that can help an organisation lower the expenses of inventories and optimise the utilisation of warehouse space?
Just-in-time (JIT)
Continuous replenishment programme (CRP)
RORI?
Return on relationship Investment - It is a measure of the financial gains a buyer achieves from establishing, developing, and maintaining relationships with suppliers.
ROCE?
Return on Capital Employed
ROE?
Return on Equity
ROA?
Return on Assets
One major difference between single sourcing and sole sourcing is that?
In single sourcing, the company deliberately buys from just one supplier who is not monopolist.
Porter’s value chain?
Primary Activities
1. Inbound logistics
2. Outbound logistics
3. Operations
4. Marketing &. Sales
5. Service
Support Activities
1. Firm infrastructure
2. Human Resource management
3. Technology development
4. Procurement
What is cost modelling?
Cost modelling is the process that buyers use to understand all of the costs that make up a supplier’s price.
Cost leadership?
Is establishing a competitive advantage by having the lowest cost of operation in the industry.
Profitability ratios?
Are a class of financial metrics that are used to assess a business’s ability to generate earnings relative to its revenue, operating costs, balance sheet assets, and shareholders’ equity over time, using data from a specific point in time.
Forward integration is when a firm merges or acquires another?
Towards the consumer
What is vertical integration?
When a company extends its operations either upstream or downstream in the supply chain. This can be achieved through ownership or control over suppliers, manufacturers, distributors or retailers. The primary goal is to consolidate the supply chain to enhance efficiency, reduce costs, and gain more control over the production and distribution processes.
Resisiting change (Kubler-Ross change curve). Split into 3 stages:
- Shock and denial
- Anger and depression
- Acceptance and integration
what are some tools that can help the assess the number of potential suppliers in the market?
Common procurement vocabulary (CPV) codes
Prior information notice (PIN)
Transfer of undertakings (protection of Employment) Regulations oversees what?
Employee protection when their employer changes as a result of a transfer
