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L3M4 Reviews Questions

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Question 12

Which one of the following is very commonly seen as being the primary role of the procurement function (especially by those outside the procurement function)?

Options:

A.

And yet on many occasions, it should not be the primary focus.

B.

Cost reduction

C.

Sourcing new materials for products under development

D.

Developing deep relationships with long-term suppliers of key goods and services

E.

Participating in international procurement conferences and developing staff

Question 13

Which two of the following are ‘soft’ factors, within the framework of the ‘McKinsey 7S’ model?

Options:

A.

Strategy

B.

Systems

C.

Style

D.

Shared values

Question 14

Which two of the following actions are most likely to be carried out by the buying organisation?

Options:

A.

Approve the invoice

B.

Specify the need

C.

Submit the invoice

D.

Acknowledge the order

Question 15

Which of the following is a benefit from compliance with procurement processes and procedures? Select all that apply.

Options:

A.

Reducing error

B.

Minimising the likelihood of damage to the organisation's reputation

C.

Avoiding unnecessary costs

D.

Reducing the opportunity for fraud / crime

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Exam Code: L3M4
Exam Name: Team Dynamics and Change
Last Update: May 4, 2024
Questions: 90
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