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A procurement manager decided to use a conformance specification in a request for quotation (RFQ) for the manufacturing of a specialist item designed by their company. The company does not have the capability to manufacture the item in-house, but requires the item to be made to their detailed specification. Was this the correct thing to do?

Options:

Yes, as it means that the company will be able to get the most cost-effective price for the item from the chosen supplier

Yes, as it means that the company will get exactly what it has specified and meets its specific requirements

No, as the item will be of non-standard construction and will not be able to be used by other competitors

No, as it means that the chosen supplier will not be able to use their expertise and knowledge to manufacture the item

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Question 2

SET Group are a start-up company trying to estimate the direct costs of materials for a project. The organisation has limited procurement records available. Would using general industry averages as a benchmark provide an accurate estimation of the project costs?

Options:

Yes, industry benchmarks are always kept up to date to consider real-time market conditions

No, the organisation will not have access to industry benchmarks as they are a new organisation

No, industry benchmarks do not consider specific specifications, quality requirements, or real-time market conditions

Yes, cost predictions do not need to be accurate as they are just an initial guess

Question 3

A department is writing a business case for an expensive capital purchase. What should be included?

Terms and conditions of contract

Tender evaluation criteria

Degree of added value

Financial plan

Options:

1 and 2 only

2 and 3 only

3 and 4 only

1 and 4 only

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