An Advantage of Buying by Performance or Function Over Other

question 12

Multiple Choice

An advantage of buying by performance or function over other specification methods is that it provides:

• A) evidence that the buyer has given thought and careful study to the need and the ways in which it may be satisfied.
• B) the opportunity for the potential supplier to establish how to make the most suitable product.
• C) the potential for equitable competition by ensuring that the suppliers are quoting for exactly the same material or service.
• D) a standard for measuring and checking materials as supplied.
• E) an opportunity to purchase identical requirements from a number of different sources of supply.

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Definitions:

Personal Competency

A combination of skills, abilities, and knowledge that enables an individual to act effectively in a job or situation.

Intellectual Capital Equation

A formula used to quantify the value of an organization's collective knowledge, including human, structural, and relational capital.

Competency

A combination of skills, knowledge, and behavior that is required to effectively perform specific tasks or roles within an organization.

Commitment

A pledge or obligation to do something, often requiring dedication and hard work, such as in a relationship or job.