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Which of the following are factors which can lead to a supplier becoming insolvent? Select THREE
1 2 and 3 are factors which can lead to a supplier becoming insolvent. 4- increased market share is a good thing, as it indicates the supplier is doing better than their rivals. A high financial ratio is also a good thing as it shows they have more assets than debt - so this is not a sign of insolvency. See p.24 for 'Supplier Risks'
Khalid is a procurement manager who works at a manufacturing organisation based in the UK. The organisation creates building fabric materials by converting raw materials such as steal into useable items in the construction industry. Khalid sources most of his steal internationally due to competitive prices. On one occasion with his usual supplier, the ship that is carrying the materials sinks due to an unexpected storm. Which clause would be activated within the contract?
this is an example of force majeure. Force majeure is a popular exam topic and comes up in chapter 2.1 p. 66. A force majeure is when an event, such as a storm, happens which affects the delivery of the contract, but over which neither party has any control.
Which of the following is an example of force majeure?
The hurricane is the force majeure event. Natural disasters such as this, or any events outside of the parties' control could be considered force majeure. This is a popular exam topic - see p. 66 in the study guide
Yusef is a new procurement manager at FRD Incorporated. He is looking through the Risk Assessments for his department and notices that the cause of the risk is not identified. Why might this be?
This could be for cultural reasons within the company. P. 135 states that sometimes causes of risk are not recorded as this could lead to a blame culture within the company.
Which of the following are technological risks to an organisation? Select TWO
Cyber security and network failure are two types of security risks. See. P. 154. There aren't a lot of questions on chapter 3.4 as it's a very short chapter and a lot of the material is repeated in earlier chapters. A brief look over this chapter is all you'll need before the exam.
