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
Q562: The standard price is 8 per unit and the actual price paid is 8.5 per unit for 1,000 units. What is the purchase price variance?
Favorable variance of 500
Unfavorable variance of 0.50
Unfavorable variance of 8,500
Unfavorable variance of 500
Favorable variance of 0.50
Q563: Which procurement term best matches this description: a temperature-controlled supply chain for sensitive goods?
Cross-docking
Cold chain
Unit price contract
Monopoly
Supplier development
Q564: In procurement, Baseline price refers to which of the following?
A measure of gain relative to the cost of an investment
Having no inventory available when demand arises
A set time before a former official may work for a supplier they previously dealt with
A contract right allowing the buyer to extend on set terms
The reference price against which savings are measured
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