L3M2 Questions Prepare with Learning Information! 2024 Regularly updated [Q53-Q77]

QUESTION 53
Finding new potential suppliers using the internet might be known as:

QUESTION 54
Regarding quality management, how many defects?

QUESTION 55
The Profex textbook for this subject, states that ‘specifications are said to be ‘the heart of the con-tract’. The book then goes on to state that goods supplied must be ‘fit for…’

QUESTION 56
The purpose of a specification is (select all that apply):

QUESTION 57
‘Expediting’ is:

QUESTION 58
The formal appraisal of a current supplier, measured in terms of factors such as quality, timeliness of delivery, etc is known as:

QUESTION 59
In a tender process, if a bidder realises there is a mistake in their bid submission, for most buying organisations, under what circumstances will the buyer allow the bidder to alter their submission, to correct their error?

QUESTION 60
The letters ‘EOQ’ refer to:

QUESTION 61
You work as a buyer for a large international corporation. You are currently involved in negotiating a high-value contract, and one of the supplier’s representatives offers to take you to a dog-racing event, with all expenses paid. The offer is open to the whole of your procurement team. What do you do?

QUESTION 62
‘I’m not really well up on ethics within organisations, especially within procurement. Where can I find some really good quality up-to-date information about ethics?’ Choose one.

QUESTION 63
Spot the odd one out.

QUESTION 64
‘Efficiency is measured in terms of a quantity of …’

QUESTION 65
You have invited quotations for some building maintenance work to be done at your organisational headquarters. Your sister has recently taken up a position as Head of Marketing at one of the firms which has quoted for the work. What should you do?

QUESTION 66
A single purchase agreement created to cover multiple repeat orders for supplies from a single source, is called a:

QUESTION 67
‘Reputation gained through proficiency, ability or achievement’ (as used in the CIPS Code of Con-duct)

QUESTION 68
In a manufacturing business, there are two important materials budgets. One is called ‘materials pur-chases budget’ and the other is called ‘materials XXX budget’. What is the missing word?

QUESTION 69
Value can be added through XXXX reduction or by making a process more efficient or more effective’

QUESTION 70
The objective of value engineering has been described as:

QUESTION 71
‘EBI’ stands for:

QUESTION 72
Lifetime costs are also known as (choose two):

QUESTION 73
‘A high degree of skill or expertise’

QUESTION 74
The supplier appraisal model attributed to Dawn Dadds, is, as shorthand:

QUESTION 75
The act of secretly and illegally stealing funds which have been placed in the individual’s trust, or money belonging to a person’s employer:

QUESTION 76
‘The act of drawing the attention of someone in authority, to an alleged instance of unethical con-duct’, is called:

QUESTION 77
The price / cost …