Warranties Section Terms Concepts

Question 1

What is an “Express Warranty?”

Answer 1

“Express Warranty” is a promise or assertion as fact
that goods will provide a certain level of performance or quality. that promise becomes reason procurement profess. enters into the contract. Literature describing qualities or performance levels & may constitute “express warranty”

Question 2

Implied Warranty

Answer 2

warranty of “fitness for a particular purpose”

Question 3

What are three elements of “Quality?”

Answer 3

• Excellence, value, grade,
• Attributes, or characteristics, including performance that satisfy user needs
• Conformance w/requirements.

Question 4

What is the primary Public Procurement Goal?

Answer 4

• best response to required activities at a fair price with what is needed (i.e., quality) when it is needed (i.e., timeliness), while serving the long‐term interests of the government by minimizing business and technical risks, reaching soc and econ objectives maxing competition, integrity high

Question 5

What are the elements of “Cost?”

Answer 5

must represent the best value.

remember indirect costs (delivery) not covered in K price

Question 6

Social/Economic

Laws require that contractors must:

Answer 6

• fair employment practices.
• safe healthy conditions.
• fair wages.
• no polluting air and water.
• business development of emerging disadvantaged sectors.

Question 7

How can we accomplish soc/econ object. & balance changing policy?

Answer 7

Maximize Competition

Maintain Integrity Transparency

Question 8

Name the 7 Goals of Public Procurement

Answer 8

• Cost
• Quality
• Timeliness
• Risk Mgmt
• Accom. Soc/Econ Object
• Maximize Competition
• Maintain Integrity & Transparency

Question 9

What type of planning in which determining direction & objectives and establishing the means by which both can be met? Strategic Planning or Tactical Planning?

Answer 9

Strategic Planning

Question 10

Which type of planning uses short–range plans to implement strategic plan?

Strategic or Tactical Planning?

Answer 10

Tactical Planning

Question 11

Name 3 Benefits of Strategic Procurement Planning

Answer 11

Strategic Procurement Planning
1) helps focus mission, & link tactical decisions to org strategy.
2) It Helps design Future Procurement Strategy.
3) Assists re-or designing the structure of the
Procurement Function.

Question 12

Name 2 more benefits of Procurement Strategy Planning

Answer 12

2 more benefits of Procurement Strategy Planning

1) Verifying the legitimacy of strategy consistent with the organizational strategy.
2) Creating a framework for communication with suppliers and cross‐functional teams