S2C QUIZ

What is the minimum spend to mandatorily involve Procurement?

• AED 0

• AED 5,000

• AED 50,000

• AED 100,000

What does the term "RFQ" stand for in procurement?

• Request for Quotation

• Request for Quality

• Ready for Quickness

• Requisition for Quantity

Which of the following is a key advantage of centralized procurement?

• Increased autonomy for departments

• Higher transaction costs

• Improved negotiation power

• Slower decision-making

What is the purpose of a Purchase Order (PO)?

• To request information from suppliers

• To authorize payment to suppliers

• To confirm an order with a supplier

• To conduct market research

What is the first step in the procurement process?

• Negotiation

• Receiving goods

• Purchase requisition

• Payment processing

In procurement, what does the term "Lead Time" refer to?

• Time taken for procurement staff meetings

• Time taken for a supplier to deliver goods

• Time taken for payment processing

• Time taken for market research

What is the purpose of a Supplier Scorecard?

• To track internal employee performance

• To evaluate supplier performance

• To assess customer satisfaction

• To measure financial performance

What does the acronym "POC" stand for in procurement?

• Proof of Concept

• Point of Contact

• Purchase Order Confirmation

• Product of Collaboration

What is the role of a Request for Information (RFI) in procurement?

• To request financial information from suppliers

• To gather information about potential suppliers

• To request immediate action from suppliers

• To request internal information about the company

What does "PO" stand for in procurement?

• Purchase Offer

• Purchase Order

• Payment Order

• Product Offering