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
Q520: Annual demand is 5,000 units, ordering cost is 25 per order, and holding cost is 4 per unit per year. What is the EOQ (to the nearest whole unit)?
500 units
125 units
250 units
176.78 units
20 units
Q521: Procurement staff routinely approve their own requisitions. What is the best fix?
Introduce independent approval so requesters do not approve their own purchases
Approve it to avoid friction with the supplier
Pay the supplier first and verify afterwards
Split the purchase to avoid higher approval levels
Share the information with a favored bidder
Q522: In procurement, Least-cost selection refers to which of the following?
Receiving goods only when needed in order to keep inventory low
Using financial tools to reduce exposure to price or currency changes
Processes designed to ensure reliable operations, compliance, and protection of assets
Awarding to the lowest-priced bid that meets the requirements
Sending and processing invoices electronically in a structured format
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