Question 1: Describe the term ‘Total Cost of Ownership’.
Question 2: Describe in brief the significance of comprising a liquidated damages clause in a purchasing contract.
Question 3: Explain four methods of dealing with low value purchases.
Question 4: Describe in brief the four essential elements of a valid contract.
Question 5:
a) Describe 'Right Quality' from a buyer's perpective. Whats are the costs of poor quality?
b) List the other four Rights of the purchasing mix.
Question 6:
a) One of the procurement methods is Direct procurement. List four other methods.
b) Explain four circumstances when direct procurement method might be utilized.