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L4M6 Exam Dumps : Supplier Relationships

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Supplier Relationships Questions and Answers

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Question 1

Which of the following are correct statements with regards to a joint venture and with regards to a strategic alliance? Select TWO that apply.

Options:

A.

A strategic alliance creates a new company formed between the partners

B.

A strategic alliance is managed by both partners

C.

In a joint venture, a new company is formed between the partners

D.

A joint venture is also known as vertical integration

E.

A strategic alliance is a permanent arrangement

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Question 2

In Public Sector procurement a PIN is sent out to inform suppliers of an upcoming tender opportunity. What does PIN stand for?

Options:

A.

Prior Information Notice

B.

Procurement Information Number

C.

Procurement Identification Number

D.

Possibilities Identified Notice

Question 3

Kyle Crant is a procurement director at ATSS Ltd and has introduced a new policy within the procurement function. The policy requires the procurement function to obtain quotations from multiple suppliers if a contract is worth over £10,000. What is the primary aim of this policy?

Options:

A.

To ensure value for money is achieved

B.

To allow procurement to select the lowest price

C.

To enable a reduction in competition

D.

To deliver an agile process

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