Procurement Analyst

A procurement Analyst is a professional responsible for sourcing, evaluating, and purchasing the goods, services, and materials an organization needs to operate while managing supplier relationships and controlling costs

Quiz Questions

Q451: What is Delivery tolerance?

The allowed variation from the ordered quantity that may be accepted on delivery

Growing swings in demand as orders move up the supply chain

A document detailing the work to be performed, the deliverables, and the standards to be met

A clause allowing the price to change by a formula tied to an index

The current market price for immediate delivery

Q452: Annual demand is 5,000 units, ordering cost is 75 per order, and holding cost is 3 per unit per year. What is the EOQ (to the nearest whole unit)?

1,000 units

250 units

353.55 units

500 units

707.11 units

Q453: A bidder asks to substitute a key staff member named in its bid after submission. What is the right response?

Pay the supplier first and verify afterwards

Apply the tender rules; changes to key personnel normally need approval and may affect the evaluation

Backdate the documents to appear compliant

Take no action because nobody has asked

Proceed anyway and handle the paperwork later