As procurement and supply chain departments have a major impact on the bottom line, students need to brush up on their procurement and supply chain knowledge. In this blog, we will give a supply chain quiz to students from university finance courses.
If students do not have a basic knowledge of supply chain and procurement, they will have to make up for it when they enter the workforce.
This blog looks at several questions that students may be asked in a procurement quiz
So, let’s get started with some risk procurement quiz questions and answers.
In a make-or-buy analysis, it is necessary to …
a. Involve all the members of the project team
b. Apply the Monte Carlo method
c. Meet frequently with the project sponsor
d. Quantify all the relevant considerations into costs or values
A “qualified seller list” is an output in the procurement process
A “force majeure” clause in a contract …
a. Protects the seller more than the buyer
b. Takes into account the buyer’s financial position
c. Requires the buyer to meet all contractual obligations
d. None of the above
A Request for Information is …
a. Requires a significant commitment of time
b. Is a formal process
c. An informational tool
d. A price comparison tool
The major difference between a Service Level Objective and a Service Level agreement is the SLO is merely an objective and the SLA includes payment of damages.