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
Q574: A tender requires a bid security of 3% of the estimated value of 250,000. What is the amount of the security?
83,333.33
8,250
9,525
10,800
7,500
Q575: The standard price is 50 per unit and the actual price paid is 56 per unit for 300 units. What is the purchase price variance?
Favorable variance of 1,800
Unfavorable variance of 6
Unfavorable variance of 1,800
Unfavorable variance of 16,800
Favorable variance of 6
Q576: What does Ordering cost mean in procurement?
The cost of placing and processing an order
Charges for holding transport equipment or containers beyond the agreed time
Preventing a future cost increase that would otherwise have occurred
Reporting suspected wrongdoing through proper channels
A deal between the organization and a party connected to its staff or managers
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