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

Q277: The winning bid exceeds the budget by 3%. What is the proper action?

Delete the related emails and files

Split the purchase to avoid higher approval levels

Tell the supplier what competitors have offered

Seek additional approved funding or use the rules on negotiation or retendering; do not ignore the budget limit

Change the evaluation criteria to fit the preferred result

Q278: A supplier delivers 8 days late. The contract value is 40,000; liquidated damages are 0.1% of contract value per day, capped at 10% of the contract value. What damages apply?

4,000

320

640

3,240

Q279: The standard price is 10 per unit and the actual price paid is 11 per unit for 500 units. What is the purchase price variance?

Favorable variance of 500

Unfavorable variance of 1

Unfavorable variance of 5,500

Favorable variance of 1

Unfavorable variance of 500