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What are the main procurement principles?
The main procurement principles include transparency, competition, fairness, and value for money. Transparency ensures that procurement processes are open and clear, allowing for scrutiny. Competition promotes the best possible terms and pricing by encouraging multiple suppliers to participate. Fairness guarantees that all bidders are treated equally and without bias, while value for money focuses on obtaining the best quality and service for the lowest total cost.
What is the difference between procurement and acquisition?
There is a difference between procurement and acquistion; however the two terms are often related. Both infer that an entity is gaining something of value, be it a service or tangible item. One might acquire an item in a variety of ways: a person might acquire money through an inheritance, by working hard for many years a saving, or by making good investments. Procurement indicates active search to acquire items or services at the best possible cost. Therefore, procurement indicates some form of payment, whereas acuisition does not.
How do you improve efficiency and effectiveness of procurement function?
Efficiency in procurement is realized when one works on: 1. quality identification; if possible by preparing own clear , precise and easy technical specification/ Terms of Reference or using standards 2. Life Cycle costing; ie,what will be the cost of the goods while using 3. Analyze and include the whole process of procurement in the plan 4. Post contract evaluation as there is no best and final solution for efficient process
Of the following choices, which best describes an important goal of your market assessment report?
Support the procurement
Which one of the following best describes the Full Funding Policy as it applies to procurement appropriations?
The Full Funding Policy in procurement appropriations mandates that agencies must fully fund the total estimated cost of a project or program at the time of procurement, rather than relying on incremental funding over multiple years. This approach ensures that sufficient resources are allocated upfront to complete the project without the risk of funding shortfalls later. It aims to enhance fiscal responsibility and project accountability by requiring a clear financial commitment.
Why have you chosen procurement career?
I chose a career in procurement because I am passionate about optimizing resources and driving efficiency within organizations. The strategic nature of procurement allows me to contribute to a company's success by ensuring that quality goods and services are sourced at the best value. Additionally, I enjoy the dynamic challenges of negotiating and building relationships with suppliers, which fosters collaboration and innovation. Overall, procurement offers a unique blend of analytical and interpersonal skills that align with my professional interests.
What is a procurement company?
A procurement company is a business that contracts with other organizations to find and secure a resource that is wanted by the client. They look for the best price on the resources for their clients.
What is the difference between procurement and acquisition?
There is a difference between procurement and acquistion; however the two terms are often related. Both infer that an entity is gaining something of value, be it a service or tangible item. One might acquire an item in a variety of ways: a person might acquire money through an inheritance, by working hard for many years a saving, or by making good investments. Procurement indicates active search to acquire items or services at the best possible cost. Therefore, procurement indicates some form of payment, whereas acuisition does not.
What are the approaches of negotiations to achieve procurement objectives?
The approaches of negotiations to achieve procurement objectives is best accomplished by organizing one's presentation and speaking confidently and precisely with a loud and clear voice.
Living organisms can best be distinguished from nonliving things by determining the presence or absence of?
Cells
Robert Morris is known for his?
Robert Morris was best known for being the "Financier" of the revolution. He also specialized in Military procurement.
What are the three types of government that Aristotle distinguished?
Aristotle distinguished three distinct types of government. They included monarchy, rule by one, polity, rule by many, and aristocracy, rule by the best men.
What is making contract awards with the most advantageous balance of price or cost quality and performance is known as?
Making contract awards with the most advantageous balance of price or cost, quality, and performance is known as "best value procurement." This approach evaluates proposals based not only on the lowest price but also considers factors such as technical merit, past performance, and the overall value delivered. By focusing on best value, organizations aim to achieve optimal outcomes while ensuring quality and efficiency in their purchases.
What is the difference between procurement and logistics?
Procurement is the acquisition of appropriate goods and/or services at the best possible total cost of ownership to meet the needs of the purchaser in terms of quality and quantity, time, and location.Logistics is defined as a business planning framework for the management of material, service, information and capital flows. It includes the increasingly complex information, communication and control systems required in today's business environment.
How many Americas Best Value Inn hotels and resort in world?
As of December 31, 2010 there are 952 - this includes Americas Best Value Inn, Canadas Best Value Inn, Chinas Best Value Inn and Value Inn Worldwide.
What is decentralised procurement?
A national company with many operating units must buy goods and services from a range of suppliers and sources.In some cases there are economic and practical advantages to having all purchasing done by head-office. This is called centralised procurement. An example of this might be printed stationery, where head office decides the styles, identifies the best source, and makes a contract with one supplier. In this way they benefit from (a) bulk buying bargaining power, and (b) harmony of image throughout the country.Decentralised procurement delegates the buying responsibility to regional offices. In this way their scattered divisions have relative autonomy.There are pros and cons re centralised v. decentralised. Often it is found that some procurement needs are best dealt with centrally, and other matters are best left to the local offices to handle.
What is a sentence with the word procure in it?
I need to procure a birthday cake for my daughter.
