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Principles Of Purchasing(Pscm 024) Question Paper

Principles Of Purchasing(Pscm 024)

Course:Accounting, Finance& Investments

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS
Instructions: Answer Question ONE and any other TWO Questions.
Question One
Explain the following terms:
Purchasing
(2 Marks)
Stores Management
(2 Marks)
Supply management
(2 Marks)
Material management
(2 Marks)
Supply chain management
(2 Marks)

State and explain the SIX objectives of purchasing.
(12 Marks)
Outline the eight dimensions of quality.
(8 Marks)

Question Two
Explain the purchasing life cycle in the right order from its initial step to its completion.
Ethics
(2 Marks)
Conduct
(2 Marks)

Outline and explain the principles of professional ethics in purchasing.
(10 Marks)
Outline SIX importance/Significance of purchasing ethics in an organization.
(6 Marks)

Question Three
Define the following terms:

Standard
(2 Marks)
Specification
(2 Marks)

Outline the FIVE advantages of standardization.
(5 Marks)
Differentiate the following purchasing terms:
Make or buy decisions
(2 Marks)
Single sourcing
(2 Marks)
Multiple sourcing
(2 Marks)
E-sourcing
(2 Marks)
Outsourcing
(2 Marks)
What is performance specification.
(1 Mark)

Question Four
Outline the meaning of EDI, the applications that it covers, its advantages and disadvantages. (20 Marks)

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