1) Describe the strategic function of purchasing department for purchase decisions briefly and also describe different considerations that a purchase manager will consider to decide about making a product or purchase it?
2) Why contract management is significant for the organization? How the organization will find out risk and return associated with any contract?
3) Explain the following in detail:
(a) Transportation strategies
(b) Spare part Management
4) Write down the different steps involved in value analysis. What are the applications of value analysis?
5) Write down the different pricing methods an organization can use. What are the considerations which a purchase manager will consider to find out a optimal price?
6) Why vendor rating is significant for the organization? Briefly describe how the organization will choose a appropriate vendor and will adopt different measures for vendor development.