CIPS Level 4 Diploma in Procurement and Supply L4M5 Passing Score

Where a market consists of a large producer of a product with high market power, it is known as:

If the value of the British Pound in other currencies is strong, which of the following is most likely to occur?

Lina Rawlins is a senior buyer working for a medical equipment company. Lina is in charge of the company’s largest supplier account, Great Barrington Gas (GBG), a medical equipment supplier. Recently GBG’s performance has declined, which has led to an increasing number of rejected items. Lina is aware of the seriousness of this, given the nature of the item, and has asked GBG to attend an urgent meeting. In the meeting, Lina asked the GBG representative “Can you tell me exactly what you are doing to ensure quality?” What type of question is Lina asking?

Commercial negotiations on price cover various aspects, including pricing arrangements. A buyer may negotiate a fixed-price agreement. Why is a fixed-price agreement advantageous to the buyer?