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level: Role of Procurement [Revise]

Questions and Answers List

level questions: Role of Procurement [Revise]

QuestionAnswer
What is exactly Procurement?-This is simply making sure the Goods and Services is Ordered, Delivered [Logistics] and Sold
What does Procurement inovlve?-Deciding what to Have -Deciding what Suppliers -Terms of Payments -Seeing the Contracts between the Business and Supplier -Manging how Goods and Services are Ordered, and Sold -Managing the Logistics
What is a Supplier?-This is simply a Business, or Individual, that Provides Goods or Services to a Business
Why are Suppliers Important?-They can Determine really the Majority of the Costs in a Business -They can also affect the Final Quality of the Product -They can be very Essential for Businesses that use the 'Just in Time' Method
Which Factors can affect the Choice of Supplier?-Cost: The Business wants the Best Value for its Money that its Spending - doesn't mean the Best ever Quality, something that is Worth It -Quality: If its Consistent, then Quality Risks are Lower -Delivery: Transportation will be a Cost. The Speed and Reliability will also be Important, as if the Goods have a Date until its Rubbish [Fruit] or if it has to be Ensured that the Product gets to the Business -Availability: Goods need to be Available when Needed, and the Supplier should Deal with Unexpected Rise -Trust: Being Prioritised can really Affect the Relationship between them 2, as it then helps the Other Factors
What else can affect the Choice of Supplier?-Government Policy -Tradition -Cash Flow -Customers ...