Global Procurement Management - Topic 6

According to the article World class procurement to enhance business performance, what are the essential elements to build a world-class procurement department?

• Clear and unified procurement strategy

• Efficient and effective procurement process

• Advanced procurement technology

• All of the above answers

What is the goal of world-class procurement?

• Reduce procurement costs

• Improve product and service quality

• Enhance sustainability

• All of the above answers

What is the Kaizen model?

• A continuous improvement model focuses on improving efficiency, effectiveness and quality.

• A total quality management model focuses on eliminating waste.

• A lean manufacturing model focuses on eliminating waste in all aspects of production.

• All of the above answers are correct.

Innovation and kaizen are two independent concepts.

• True

• False

The primary role of procurement in product development is to negotiate prices with suppliers.

• True

• False

Procurement can help businesses reduce product development costs by negotiating prices with suppliers.

• True

• False

Who is responsible for evaluating procurement performance?

• Purchasing department

• Senior leaders

• Both purchasing department and senior leadership

How can businesses address ethical issues related to suppliers?

• Develop ethical procurement policies and procedures

• Train employees on business ethics

• Comply with legal regulations

• All of the above answers are correct

What is Tesla's main goal in overcoming barriers and providing collaboration in the electric vehicle industry?

• Increase market share

• Reduce production costs

• Promote innovation and development of electric vehicle technology

• Both A and B are correct

The principle of honesty and transparency is one of the most important principles of professional ethics.

• True

• False