A public sector buyer has run a competitive tender, for which there were eight bidders. All bidders have met the public sector organisation's minimum standards. In addition, they must also meet several other requirements. The buyer will make the contract award decision based on which of the following?
Faisal is a medical equipment maintenance services procurement specialist within a local hospital. Faisal is responsible for ensuring contracts are in place that will ensure operational continuity of high-value pieces such as radiology equipment. When carrying out tender opportunities for these services, Faisal will specify, as an essential requirement, that certain standards are adhered to. Which of the following is a benefit of incorporating standards as a requirement within a specification?
If a company is described as 'liquid' what does this mean?
Compared with single sourcing, what is a key advantage to dual or multiple sourcing? Select TWO
Why is it important, when awarding high-value contracts, for a buyer to conduct a financial assessment of a supplier?
Roberto is running a tender in which his main concern is price. However he is keen to hear also about the companies' Corporate Social Responsibility Policies and how this will impact their delivery. Roberto is considering awarding the CSR question 4 points in a weighted point system. If he does this, what weight should be given to the price?
A procurement manager who works in the public sector has received 8 submissions to a tender op-port unity that was advertised on OJEU. The average price submission for the contract was £1m but one supplier has submitted a price of £200,000, which the procurement manager has identified as being 'an abnormally low tender'. What should be the procurement manager's course of action?
Elaine works for a British manufacturer of confectionary (sweets/ candy) items. One of the key ingredients is cocoa powder, which cannot be grown in the UK. Elaine therefore needs to look abroad for suppliers. Which of the following are risks that Elaine needs to consider when sourcing internationally? Select THREE
Incoterms are divided into four main groups to follow the movement of goods covering the exporter’s premises, export and import points, and cost and risk. Which letters represent the four groups of Incoterms?
The procurement manager has received the following data from the supplier's accounts to facilitate the calculation of the supplier's current ratio:
Current Assets: Stock $200; Debtors $60; Cash $40; Total $300
Short Term Liabilities: Bank overdraft $150
Which calculation will the procurement manager use to find out the current ratio?
