'It is important to remember that XXX customer service has a knock-on effect on YYY customer service'. What are the missing two words?
This is the notion that the way people behave (and are treated) inside the organisation is likely to reflect the way they behave to others outside the organisation.
Individuals, units, teams, groups or organisations that have an influence over procurement, or which are affected by procurement operations, can be called:
The others may be stakeholders, but the answer is 'stakeholders' - those who have a legitimate inter-est in what is going on.
The time between recognition / origin of the need; through to usage or consumption is described as:
True lead time.
You may wish to argue regarding the QUESTION NO : of consumption, but my textbook tells me this is how it is. A true lead time could also be from recognition of the need through to delivery into the user's hands, I would suggest. For example, are we to say that a requirement for a fire extinguisher is un-fulfilled as it hangs on a hook next to the requisitioner for three years?
In developed economies such as the European Union and North America, there is no forced labour (modern slavery) in supply chains. True or false?
The statement is false.
CIPS actively campaigns against modern slavery anywhere in the world.
The Pareto Principle, broadly speaking, is also known as (choose two):
Pareto Analysis is sometimes known as the 80-20 Rule. It is the basis of ABC Analysis.
'in any series of elements to be controlled, a selected small factor [say 20%] in terms of number of elements almost always accounts for a large factor [say 80%] in terms of effort'. The figures in square brackets are illustrative - Pareto did not include these numbers and the % can be otherwise. The principle that a small percentage of 'things' will soak up a large amount of resource is what actu-ally matters.
For example, if you have 100 suppliers, a disproportionate amount of energy / time / spend will be devoted to a small number of them. Similarly if you have 100 staff members. Or a stock range of thousands. Similarly for customers. And so on.
A relatively simple concept, worth it's weight in gold in my opinion - my favourite management concept.
