Compare the two types of purchasing methods namely contract purchasing or spot purchasing in terms of quality of product and cost
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Compare the two types of purchasing methods namely contract purchasing or spot purchasing in terms of quality of product and cost
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- What are the differences between theoretical procurement knowledge in class and practical procurement knowledge in real life?Discuss the reasons why suppliers are sometimes reluctant to share price information with buyers, particularly during the early stage of a buyerseller relationship?Consider the four stages of the development of the procurement function identified by Reck and Long. State, with reasons, the stage reached by procurement in your organisation.
- Discuss why contract warehousing is a preferred alternativefor many organizations.Please do not give solution in image formate thanku This question requires you to reflect on your knowledge and understanding of procurement management as a component of supply chain management. You are required to write a one-page report where you reflect on: • The role of procurement management as a critical component of supply chain management. • Your experience of learning the discipline of procurement management. Which areas of this module did you find most interesting and challenging to learn about? • Do you think you would want to work in public sector procurement, given the significant number of incidences of misappropriation of funds? Why/why not? (i.e., do you think you would be able to make a difference?) • Do you think you have the correct set of ethics to enter into a procurement position given the influence managing large amounts of money may have on an individual? Why/why not? • Which component within the procurement management discipline you enjoyed learning about the…If an item is particularly valuable to a customer, using customer-based pricing might suggest a price that is higher than the one that would be indicated by use of a standard markup. Describe a situation where the use of customer-based pricing would suggest a price that is lower than the one that would be indicated by use of a standard markup.
- a) What is the most important element in Purchasing Management? b) Within such element, what is the most important factor to contribute to its success and why? c) What are the three main objectives of purchase management in a company? Among the three objectives, which one do you think is the most important, and why?What is the difference between informal and formal in selling price, cost of sales and labour costsDiscuss the advantages of electronically transmitting and receiving purchasingdocuments between a buyer and seller.