Can you take a practice test on procurement management quiz and answer each question correctly. There is much that is expected by the procurement section in any business, and this involves ensuring that all materials and services needed by a business are acquired in the desired time and form. Take each question and get to refresh your memory. All the best!
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Less costly than fixed price because the seller does not account for risk
Requires auditing all the seller invoices this increases buyer efforts
Seller has less incentive to control cost thus these contracts are inefficient
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Screening System
Cost Control
Weighting System
Independent Estimates
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