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
Q700: What is Price adjustment clause?
A tangible or measurable output that the supplier must provide
The best alternative a party has if a negotiation does not produce an agreement
A clause allowing the price to change by a formula tied to an index
A list of unit prices used to value work or services as they are carried out
Preventing a future cost increase that would otherwise have occurred
Q701: A supplier accounts for 720,000 of a total spend of 900,000. What share of total spend is this?
80%
20%
400%
88%
101.60%
Q702: A bidder forgot to sign the bid form. What is the proper approach?
Rely on the supplier's word instead of evidence
Delay reporting until the audit is finished
Ignore the issue and continue as planned
Follow the tender rules on omissions; where a signature is mandatory and not curable, the bid may be rejected
Approve it verbally without written authorization
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