What information should be included on a purchase requisition?
Answer(s): A
A purchase requisition should contain the following information1) Date of the requisition2) Description of what is required3) Supplier if known4) The quantity5) when the need is required6) why the need is required7) who identified the need8) who approved the need9) if it's a re-buy
What do STEEPLE and SWOT stand for?
RESPONSEAfter a need in an organization has been identified/understood, defined, justified and authorized, the next stages are to understand how commodity prices are reacting, which suppliers are available and their strength. The make or buy decision can be reached with knowledge from this; the procurement professional can consider the organization external environment, strength, weakness opportunity and threat to develop strategy/plan of how to achieve the procurement. `STEEPLE' is an effective way to evaluate the external environment. It helps buyers to assess factors that could affect the need in hand and helps them to develop the plan accordingly. `STEEPLE' is an acronym which stands for,Social, Technology, Economic, Environment, Political, Legal, Ethical `SWOT' helps the organization to analyze its strength and within the organization and the oppor- tunity and threats outside the organization.`SWOT' is an acronym which stands for, strength, weakness, opportunity and threats.Refer to the question column
After a need in an organization has been identified/understood, defined, justified and authorized, the next stages are to understand how commodity prices are reacting, which suppliers are available and their strength. The make or buy decision can be reached with knowledge from this; the procurement professional can consider the organization external environment, strength, weakness opportunity and threat to develop strategy/plan of how to achieve the procurement. `STEEPLE' is an effective way to evaluate the external environment. It helps buyers to assess factors that could affect the need in hand and helps them to develop the plan accordingly. `STEEPLE' is an acronym which stands for,Social, Technology, Economic, Environment, Political, Legal, Ethical `SWOT' helps the organization to analyze its strength and within the organization and the oppor- tunity and threats outside the organization.`SWOT' is an acronym which stands for, strength, weakness, opportunity and threats.
Explain three strategic decisions that could be made or enhanced by using the STEEPLE or SWOT analysis
By using STEEPLE and SWOT analysis, the organization can reach out to the following strategic decision in how it will engage with its external environment, and utilize it strength to cover up for its weakness and achieve its strategic goals;1) STEEPLE can aid an organization to come up with informed decision by understanding when is the right time to procure goods or services?2) STEEPLE and SWOT analysis can uncover the quantity that could be most economical to ac-quire at the point in time.3) When an organization want to decide on the currency that could be most favorable for the buy, it will analyze the countries involved and the strength of their currency and make its decisions on which currency that the supplier should be paid that will not make the organization to lose unnecessary money to exchange.4) Should the product or services be made or bought?5) Should the product or services be resourced?6) Should the product or services be placed?Refer to the question column
By using STEEPLE and SWOT analysis, the organization can reach out to the following strategic decision in how it will engage with its external environment, and utilize it strength to cover up for its weakness and achieve its strategic goals:1) STEEPLE can aid an organization to come up with informed decision by understanding when is the right time to procure goods or services?2) STEEPLE and SWOT analysis can uncover the quantity that could be most economical to ac-quire at the point in time.3) When an organization want to decide on the currency that could be most favorable for the buy, it will analyze the countries involved and the strength of their currency and make its decisions on which currency that the supplier should be paid that will not make the organization to lose unnecessary money to exchange.4) Should the product or services be made or bought?5) Should the product or services be resourced?6) Should the product or services be placed?
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