problem 1: Describe the term ‘Total Cost of Ownership’.
problem 2: Describe in brief the significance of comprising a liquidated damages clause in a purchasing contract.
problem 3: describe four methods of dealing with low value purchases.
problem 4: Describe in brief the four essential elements of a valid contract.
a) Describe 'Right Quality' from a buyer's perpective. Whats are the costs of poor quality?
b) List the other four Rights of the purchasing mix.
a) One of the procurement methods is Direct procurement. List four other methods.
b) describe four circumstances when direct procurement method might be utilized.