The role of procurement (AQA GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What does procurement involve beyond just selecting suppliers?
What does procurement involve beyond just selecting suppliers?
Determining needs, ordering & managing goods
Which departments provide info to set target stock levels?
Which departments provide info to set target stock levels?
Marketing and production
What does stock falling below target levels indicate?
What does stock falling below target levels indicate?
Decreased productive efficiency
What is the main goal of Just in Time (JIT)?
What is the main goal of Just in Time (JIT)?
Receive supplies exactly when needed
When is Just in Case (JIC) particularly useful?
When is Just in Case (JIC) particularly useful?
When demand is difficult to predict
For which products is JIC less suitable?
For which products is JIC less suitable?
Tech products that become obsolete
What does JIT success depend heavily on?
What does JIT success depend heavily on?
Strong supplier relationships
When does price become the primary concern in supplier selection?
When does price become the primary concern in supplier selection?
In highly competitive, tight-margin industries
Why are credit terms valuable when selecting suppliers?
Why are credit terms valuable when selecting suppliers?
Allow purchase now, pay later after selling
What do businesses using JIT production need from suppliers?
What do businesses using JIT production need from suppliers?
Quick, reliable service
What does logistics involve?
What does logistics involve?
Planning, implementing & controlling distribution
What is the goal of effective supply chain management?
What is the goal of effective supply chain management?
Right quantity, place, time, quality, min cost