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  5. L4M8

Procurement and Supply in Practice
L4M8 Exam

Which sector most frequently uses invitation to tender?

  1. See Explanation section for answer.

Answer(s): A

Explanation:

The public sector uses tenders a lot more in the working environment than private sector.



What two areas of an organization do the Kraljic Portfolio matrix uses to establish the category of a product or service?

  1. See Explanation section for answer.

Answer(s): A

Explanation:

The Kraljic Portfolio Matrix shows where a product or services fits into in an organization. It is based on two areas 1) the risk of supply (Risk Impact). 2) Effect it has on profit (cost impact).



Create a list of tangible, intangible, direct and indirect needs within an organization with which you are familiar.

  1. See Explanation section for answer.

Answer(s): A

Explanation:

Tangible costs are the cost an organization incur acquiring items that can be physically touched and or seen. Examples includes; 1) Capital Purchase 2) Raw materials 3) Sundry items 4) Vehi- cles/transport 5) Utilities
Intangible costs are the cost an organization incurs acquiring something that cannot be physically seen or touched. Examples include; 1) Insurance 2) Marketing 3) Research and development 4) Salaries and/pension 5) Services 6) Training.
Direct costs ­ These are costs that an organization incurs acquiring product and services directly attributable/traceable to its production, for example, the cost of labour and materials directly uses to produce the goods/services which the organization sells. In the case of buying and running a Lorry for transport fleet, this would be 1) total cost of acquiring the lorry,) Tooling 3) Operation. Indirect cost - These are costs that are not directly associated to production, for example, materials and services not used in production, labour/ staff cost not directly attributed to production, such as management, sales and marking, ICT support, rents. In the case of buying and running a Lorry for transport fleet. Examples are:
1) Insurance
2) Disposal.

Go back to the question column and study the Questions and response



Create a list of tangible, intangible, direct and indirect needs within an organization with which you are familiar.

  1. See Explanation section for answer.

Answer(s): A

Explanation:

Tangible costs are the cost an organization incur acquiring items that can be physically touched and or seen. Examples includes; 1) Capital Purchase 2) Raw materials 3) Sundry items 4) Vehi- cles/transport 5) Utilities
Intangible costs are the cost an organization incurs acquiring something that cannot be physically seen or touched. Examples include; 1) Insurance 2) Marketing 3) Research and development 4) Salaries and/pension 5) Services 6) Training.
Direct costs ­ These are costs that an organization incurs acquiring product and services directly attributable/traceable to its production, for example, the cost of labour and materials directly uses to produce the goods/services which the organization sells. In the case of buying and running a Lorry for transport fleet, this would be 1) total cost of acquiring the lorry,) Tooling 3) Operation. Indirect cost - These are costs that are not directly associated to production, for example, materials and services not used in production, labour/ staff cost not directly attributed to production, such as management, sales and marking, ICT support, rents. In the case of buying and running a Lorry for transport fleet. Examples are; 1) Insurance 2) Disposal.




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