Discuss the difference between procurement and purchasing. Explain and discuss deeply
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1. Discuss the difference between procurement and purchasing. Explain and discuss deeply
2. Explain and define the three (3) types of electronic payment
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- Imagine that you are a manager in a commercial printing company, and you have founda good deal on the ink that your company uses most frequently from a supplier inJapan.• Using the materials from this week’s reading as well as the supplementalresources, consider what shipping terms you should insist be in the contract inorder to limit the risk of loss for your company.• Using the attached Memo template, draft an interoffice memo to the owner of thecompany describing at least three shipping terms you would want to be includedin the contract.SLO 10.2. Invoice clearance and payment procedures: Are best performed by the user or specifierAre the same for goods and servicesAre most effective when performed by a person in accounts payableMay be streamlined with an invoice-less system within an e-procurement systemMay stipulate dropping a supplier if a variance exceeds a set amount NEWSLO 10.3. Information systems technology can: Increase data accessibility and transmission speed, but increases costsEnable system integration across functions, but not data accuracyIncrease data accuracy and accessibility at lower costEnable speedier communication internally, but not externally with suppliersEnable system integration, but increases time spent on tactical issuesPurchasing covers a broader scope than procurement and covers both acquisitions from third parties and from in-house providers. Select one: a. False b. True
- BBA PL 316: LEGAL ASPECTS OF PURCHASING Q.2. “Public procurement can be characterized as a process flow starting with procurement planning and proceeding sequentially to contract management and different entities play different roles at the various stages within the cycle” Make a justification of the above narrative pointing out the key entities and the role they play in the effective management of public procurement.Explain how a cutting edge WMS (Warehouse Management System) may help a company.a) Explain five (5) ways in which electronic systems can be used in the sourcing process.b) Describe five (5) ways in which added value may be created for a buying organization through an effective sourcing process c) With examples, explain the various forms of unethical behavior practiced in the procurement profession.
- What are piece rates? Describe how adopting piece rates may hurt the profitability of a firm...You are the managing Director of Mediconsult, a medical supplies company, located at Tema. Due to the COVID-19 pandemic, your regular import of supplies has been cut by half. As a result, you are unable to meet the demands of most of your clients. Write a letter to the Procurement Director of Abala Hospital, Spintex Road, to inform her of your inability to supply her company's request for face masks.Prepare an essay not exceeding two pages to explain to a top procurement and logistics manager the subject of insurance; What it is, how it can be used by his/her organization to improve its outcomes and the challenges faced in employing it for risk management.
- 1. Examine the challenges encountered in the process of planning procurement audits.list out different types of bill of ladings and explain itPlease 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…