Practice Test 5 L4M6 Flashcards
(14 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
