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
Q889: In procurement, Obsolete stock refers to which of the following?
How often stock is used and replaced during a period
A clause making deadlines strictly binding
Requirements set by a funder that must be followed for grant-financed purchases
The price a buyer aims to achieve in negotiation, based on analysis
Inventory that is no longer needed or saleable
Q890: The standard price is 4 per unit and the actual price paid is 3.5 per unit for 2,000 units. What is the purchase price variance?
Unfavorable variance of 1,000
Favorable variance of 0.50
Favorable variance of 1,000
Favorable variance of 7,000
Unfavorable variance of 0.50
Q891: What does Supplier relationship management (SRM) mean in procurement?
Managing interactions with suppliers to obtain the greatest value over time
A request asking a bidder to explain its bid without changing its substance
A payment term meaning payment is due 30 days after the invoice date
Using online tools to run sourcing events
A long-term arrangement where public and private sectors share risks and responsibilities
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