Question1. Describe the term ‘Total Cost of Ownership’.
Question2. Discuss in brief the significance of including a liquidated damages clause in purchasing contract.
Question3. Enumerate 4 techniques of dealing with low value purchases.
Question4. Explain in brief the four essential elements of valid contract.
Question5. Describe ‘Right Quality’ from a buyer’s perspective. What are the costs of poor quality?
Question6. List the other 4 Rights of purchasing mix.
Question7. One of the procurement techniques is Direct Procurement. List all four other techniques.
Question8. Enumerate four circumstances when direct procurement techniques might be used.