THE POLYTECHNIC, IBADAN

FACULTY OF BUSINESS AND COMMUNICATION STUDIES

DEPARTMENT OF BUSINESS ADMINISTRATION AND MANAGEMENT
STUDIES
EXANINATION: FULL TIME AND DPP 2023/2024 ACADEMIC SESSION
SEMESTER: FIRST SEMESTER
TIME ALLOWED: TWO HOURS
COURSE CODE AND TITLE: BAM 117 (PRINCIPLES OF PURCHASING)

1. The two fundamental inputs in which management of an economy is primarily interested are _________ and
____________.
2. ___________ described purchasing as department which is concerned with the process of ascertaining the
organization’s materials and service needs, selecting suppliers, agreeing on terms, placing orders and
receiving goods and service.
3. __________ argued that Buying is merely the act of procuring an item of materials at a price.
4. The importance of purchasing in an organisation are _________, __________, _____________ and
_____________.
5. The purchase department can also help the _______________ department by conducting market surveys and
searching for new and better materials and equipment.
6. The _____________ department has the responsibility for reducing high quality products in sufficient
quantities by meeting customers’ needs.
7. In a typical merchandising company, the ___________ department has the responsibility of making sales
forecasts, providing market information, boosting sales, increasing market shares.
8. ______________ is defined as the establishment of objectives, formulation, evaluation and selection of the
policies, strategies, tactics which involve actions required to achieve these objectives.
9. The key aspect of purchase planning is ________
10. _____________ is a document that specifies what goods or services are needed and how much money will be
spent on them.
11. _____________ is the transfer of specified key procurement activities relating to sourcing and supplier
management to a third party in order to reduce costs or, often in the case of procurement, to add specialist
skill sets to their procurement department.
12. The benefits of outsourcing a procurement function include _________, __________, ___________, and
__________.
13. ___________ broadly refers to a supplier of goods, works, plant, and/or related services that has
entered into a contractual arrangement with an entity (e.g., a main contractor) to perform a portion of
a contract for which the entity has been contracted.
14. __________ also known as the prime contractor, is responsible for the overall project or contract.
They may have expertise in managing the project, coordinating different aspects, and ensuring its
successful completion.
15. Subcontracting is often used when certain tasks or elements of a project require ___________ skills,
equipment, or knowledge that the primary contractor doesn't possess in-house.
16. _______________ defines the scope of work for subcontractors, including specific requirements, timelines,
and quality standards.
17. A public sector contract can also be called a ________ and the procurement process is sometimes known as
_______________
18. Government procurement is often subject to strict _________ and __________ to ensure transparency,
fair competition, and accountability in the spending of public funds.
19. Governments may use procurement to achieve broader ___________ objectives, such as supporting
small businesses, promoting sustainability, and ensuring diversity and inclusion.