1. Described Reciprocal trading?
Reciprocal trading provides participating nations with equivalent competitive trading opportunities based on mutual agreements negotiated to adjust tariffs, duties, and customs restrictions in order to increase foreign trade and improve border-to-border relationships among participating countries.
Counter trading offers cash poor countries and organizations greater access to the world markets by offering them an alternate method of acquiring goods.
3. List some of the questions that could help to make informative decision for Purchase Planner?
1. Were you pleased with the work performed?
2. Would you do business with this supplier again?
3. How long have you been doing business with this supplier?
4. What do you like best about the work performed?
5. What do you like the least about this supplier?
6. Is there anything about the work performed that you were not happy with?
7. Was the contract completed on time?
8. Was the supplier helpful and timely when responding to your questions?
9. Were there any unexpected expenses or additional costs unrelated to change orders?
10. Were there any unexpected delays unrelated to change orders?
4. Whose terms and conditions govern when a supplier sends a buyer their terms and conditions after buyer phones in an order, fails to send purchase order to supplier and accepts delivery?
The supplier's terms and conditions govern because the buyer did not send out the purchase order with his terms and conditions.
5. Which process can be used to determine vendor's price reasonableness when lack of pricing information available?
When there is a lack of pricing information available to determine price reasonableness, a cost analysis could be performed to evaluate and verify a vendor's cost data and proposed profit.
6. Tell me what is benchmarking?
The continuous process of measuring a company's products, services, costs, and practices against those of competitors or organizations that display "best in class" achievements.
7. Tell me is it proper to use term "and/or" in agreements?
The term "and/or" should not be used in agreements. Ambiguity arises when this term is used because of the many possible variations this term can create. It is more exact to use the terms "and" and "or" separately. The term "and" means both, the term "or" means either.
8. Described two-step procurement?
A bidding procedure usually consisting of two competitive steps. Step one consists of a technical proposal for furnishing the product or service and the second step consists of a comparison of costs. Bidding then proceeds as in conventional sealed bid procedures.
9. Tell me why purchasing cards are so much popular nowadays?
Purchasing cards are a purchasing tool many progressive companies use to purchase and pay for low dollar purchases. Purchasing cards reduce the cost of doing business while preserving purchasing controls.
10. Described life cycle costing?
Life cycle costing is the total cost of purchasing, operating, maintaining, supporting and disposing of a product.