Preview Questions Procurement Specialist | Role Specific Skill

Question 1: How can procurement forecasting lead to cost reductions in electrical components procurement?

Which action should you take?

Choose only one option

By predicting demand and aligning order quantities to avoid overbuying

By reducing forecasting accuracy and focusing on market trends

By consistently purchasing from the same suppliers to secure lower prices

By purchasing at peak demand to avoid higher costs

Question 2: When cost escalation occurs in negotiations, which approach should be prioritized to protect against future increases?

Which action should you take?

Choose only one option

Use longer-term contracts to stabilize prices

Re-negotiate the terms for better discounts

Locking in fixed prices for a specific period

Ensure flexible supply chain arrangements to allow sourcing from multiple suppliers

Question 3: In the case of purchase order errors in electrical components, which action would most effectively minimize the impact on the project timeline?

Which action should you take?

Choose only one option

Consulting with the supplier for a correction and updated delivery time

Asking the supplier for a discount for the inconvenience caused

Re-sourcing the order to a local supplier who can meet the delivery requirements

Immediately re-issuing the order with a different supplier to accelerate delivery

Question 4: What is the primary benefit of using a weighted scoring model in vendor selection?

Which action should you take?

Choose only one option

It objectively evaluates vendors based on multiple criteria like price, quality, and delivery capabilities

It reduces the need for ongoing supplier relationship management

It helps compare vendors based solely on their financial offerings

It simplifies vendor negotiation processes

Question 5: When drafting a contract for the supply of electrical components, which of the following ensures continuous compliance with regulatory standards?

Which action should you take?

Choose only one option

Penalizing suppliers for delays in certification of products

Including specific regulations for environmental compliance

Setting fixed terms for compliance reviews only at contract renewal

Including a regular audit clause for compliance checks throughout the contract period

Question 6: In the context of cost reduction, what role does supplier relationship management play?

Which action should you take?

Choose only one option

It allows for more frequent negotiations

It ensures constant price increases

It fosters better payment terms

It helps reduce supply chain risk