SCM Pre-test

The process of finding and agreeing to terms and acquiring goods, services or works from an external source

• Purchase

• Acquisition

• Procurement

• None of the above

All can be types of Procurement except for:

• direct

• indirect

• service

• process

This process starts when someone submits a request to the purchasing department.

• need identification

• vendor selection

• payment

• invoice and order

The procurement department needs to investigate vendors, request quotes for the item needed.

• need identification

• vendor selection

• invoice and order

• keeping records

The external documents that the purchasing department submits to vendors.

• need identification

• payments

• Purchase orders

• Quantity and description of price

A feature of purchase order which the name, address and contact information for the party accepting the payment for goods are found.

• buyer

• seller

• order date

• shipping address

This feature includes the details of the goods or orders such as quantity, unit, price and total costs.

• buyer

• seller

• order information

• order date

A request for payment and gives a detailed breakdown of the cost.

• vendor selection

• invoice

• payment

• record keeping

The following are components of procurement except for one.

• People

• Process

• Paper

• Products

They take care of initiating or authorizing every stage of the process.

• People

• Process

• Paper

• Product