REVISION QUESTIONS TOPIC 1: Purchasing:

REVISION QUESTIONS

TOPIC 1: Purchasing:

a)     Explain the objectives of a modern day purchasing function in an organization

b)     Discuss ways in which purchasing can contribute to the achievement of organization goals

c)      Highlight five Reasons for placing the purchasing unit at the strategic level in an organization

d)     Explain the Nature of information required to make procurement decisions at the strategic level

e)     Explain the importance of adopting strategic purchasing in an organization

TOPIC 2: FORMULATION OF PURCHASING STRATEGY

a)     Identify the characteristics of a strategy

b)     Explain five objectives of formulating a purchasing strategy

c)     Explain contents of a purchasing strategy

d)    Explain the criteria used to select procurement strategies to be adopted in an organization

e)     Describe the steps followed in formulating a procurement strategy

f)      Explain the importance of research in the formulation of purchasing strategies

g)     Explain the role of SWOT analysis in the formulation of purchasing strategies

h)     Discuss how corporate strategies influence purchasing strategies

i)       Highlight the role of purchasing policies in an organization

j)       Discuss Ways in which a procurement manager may incorporate views of stakeholders in developing a procurement strategy

TOPIC 3: IMPLEMENTATION OF A PURCHASING STRATEGY

a)     Discuss issues that should be considered in the implementation of purchasing strategies

b)     Discuss the importance of monitoring the implementation of procurement strategies

c)      Outline measures that a procurement manager may take to minimize resistance in the implementation of new procurement strategies

TOPIC 4: MARKET STRUCTURES

a)     Discuss five Factors that determine the type of a market structure

b)     Distinguish between a seller and a buyer market

c)      Discuss the Implication of a free competition market structure to the purchasing function

d)     Discuss the Implication of oligopoly market structures to the purchasing function

e)     Explain the sources of monopoly power

f)      Explain the characteristics of a monopolistic competition market

TOPIC 5: BUYER SUPPLIER RELATIONSHIPS

a)      Explain five Characteristics of collaborative buyer-supplier relationships

b)     Describe the steps involved in establishing partnership sourcing

c)     Describe five Prerequisites for successful Supplier Relationships

d)    Discuss the challenges in developing strategic alliances with suppliers

e)     Discuss five Challenges in establishing successful buyer-supplier relationships

TOPIC 6: PURCHASING STRATEGIES

a)     Highlight importance of adopting a local sourcing strategy in an organization

b)     Highlight importance of adopting counter trade as a sourcing strategy in an organization

c)     Discuss the importance of supply positioning

d)    Explain five Factors that inhibit formation of purchasing consortia