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Reference: https://www.cips.org/qualifications/diploma-in-procurement-supply/def%C4%B1ning-business-need
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Aldar Properties is a property developer in UAE. In last month, it spent $2,160 for 10 tons of steel. In this month, it had planned 10% increment in budget for steel comparing to last month. But the number of orders boosted and total spend on steel reached $1,992.1 while Aldar has imported 11 tons. What is the main cost driver of steel budget?
Correct Answer: D 🗳️
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Total cost of ownership of a solar panel is $5,000 and it is expected that the panel will make a sav-ing of
$1,000 each year. So it would take 5 years for the benefits to repay the investment. Therefore, the firm plans to keep the solar panel for at least 5 years. Is payback period calculation right for making the business decision?
Correct Answer: D 🗳️
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A food manufacturer wants to predict the pricing point for a new and innovative health drink. Which method of market research would be beneficial to receive the most accurate information?
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Avram is carrying out a competitive tendering exercise for a security service provider, is this a straight re-buy?
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The main benefit of using standards in a specification is ...
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Commercial Negotiation
CIPS Supplier Relationships
Scope and Influence of Procurement and Supply
Procurement and Supply in Practice
Ethical and Responsible Sourcing
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