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A procurement professional is preparing for a negotiation with supplier. She is setting targets for price which her company is seeking to achieve. Which of the following acronyms can help her identify limits before engaging in the negotiation?
Suggested Answer: B
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The following graph shows the factors that shift the supply curve to the left and to the right.
- CIPS study guide page 103
- Principles of Microeconomics 2e, 2017, Open Stax - Rice University.
LO 2, AC 2.2
42 comments · newest first
EL
Elfrieda
11 months ago
MIL is definitely not the right choice here.
LO
Louvenia
11 months ago
I've never heard of PPCA before, what's that?
TI
Tiara
12 months ago
Wait, isn't TIMWOOD about waste reduction?
FE
Felix
12 months ago
Totally agree, RAQSCI covers all bases!
LA
Larae
1 year ago
I think RAQSCI is the one for setting limits.
TR
Tracey
1 year ago
MIL seems like it could be relevant, but I don't think I've seen it used in the context of negotiations before.
SH
Shantay
1 year ago
I’m leaning towards PPCA because it sounds familiar in the context of setting targets, but I can't recall the specifics.
LA
Lashon
1 year ago
I practiced a question similar to this, and I feel like TIMWOOD was more about waste reduction than negotiation limits.
LO
Lorrine
1 year ago
I think I remember something about RAQSCI being related to negotiation limits, but I'm not entirely sure how it applies.
DE
Detra
1 year ago
I think the key here is to identify the acronym that specifically relates to setting targets and limits for a negotiation. PPCA sounds like it could be the right answer, but I'll double-check the others just to be sure.
CA
Carey
1 year ago
I'm a bit confused by the options here. I'm not familiar with all of these acronyms, so I'll need to do some quick research to figure out which one is the best fit.
LE
Leota
1 year ago
Okay, let's see. I'm pretty sure the answer is PPCA, since that's the one that sounds most related to procurement and negotiation.
VI
Vinnie
1 year ago
Hmm, this one seems tricky. I'll need to think carefully about the different acronyms and what they might represent.
LE
Leonora
1 year ago
Ah, I've seen PPCA used in procurement before. That's definitely the one I would go with. It stands for "Price, Profit, Cost, and Alternatives," which seems perfect for this scenario.
WI
Wilford
1 year ago
I've used ifup and ifdown before, so I'm feeling confident about those. But the question is asking for two commands, so I'll need to double-check the other options.
TA
Tayna
1 year ago
Hmm, I'm a bit unsure about this one. I'll need to think it through carefully and review my notes on federal financial auditing.
AR
Art
1 year ago
I feel pretty confident about this one. I think option B is the way to go - having the student submit questions in writing beforehand is a great way to ensure they can participate actively. The other options seem a bit risky or may not fully address the student's needs.
MA
Marsha
1 year ago
Hmm, this seems like a tricky one. I'll need to think carefully about the key characteristics of event-driven architecture.
TI
Tish
1 year ago
I wonder if RAQSCI stands for 'Really Awesome Quotation Securing Criteria Identified'. That would be a hilarious take on it!
CA
Catarina
1 year ago
A: Yeah, it's important for the procurement professional to know the acronyms to set negotiation targets.
WI
Wilburn
1 year ago
B: That's a funny interpretation! But I believe it actually stands for something else.
CA
Catarina
1 year ago
A: I think RAQSCI stands for 'Really Awesome Quotation Securing Criteria Identified'.
NI
Nickole
2 years ago
MIL? What is this, a military operation? I'm pretty sure RAQSCI is the answer we're looking for.
CO
Coral
1 year ago
Yeah, RAQSCI is definitely the acronym to help us identify limits before the negotiation.
DE
Denae
1 year ago
I think RAQSCI is the one we need to focus on for setting negotiation targets.
HA
Hannah
1 year ago
MIL? That does sound like a military operation.
CA
Catina
2 years ago
TIMWOOD? I thought that was just for lean manufacturing, not procurement negotiations. Clearly, RAQSCI is the way to go.
LA
Lashaunda
2 years ago
PPCA? Really? Sounds like a made-up acronym to me. I'll stick with the classic RAQSCI.
CA
Casandra
1 year ago
Yeah, PPCA does sound made-up. Stick with RAQSCI for sure.
LE
Leota
1 year ago
I agree, it helps to identify limits before engaging in the negotiation.
FR
Francesco
1 year ago
RAQSCI is a great acronym to use for setting negotiation targets.
MA
Matt
2 years ago
I think TIMWOOD could also be helpful in setting targets for price before negotiation.
AD
Adelina
2 years ago
I disagree, I believe the acronym RAQSCI would be more useful in this situation.
ZO
Zona
2 years ago
I think the acronym MIL can help her set limits.
DE
Desirae
2 years ago
I think the answer is C) TIMWOOD because it helps in setting limits before negotiation.
WI
Willie
2 years ago
Hmm, RAQSCI seems like the way to go here. Gotta set those limits before the big negotiation!
JE
Jerilyn
1 year ago
I'm not sure about PPCA, it doesn't seem as relevant for setting negotiation limits.
IS
Isabella
1 year ago
TIMWOOD might be helpful too, it covers a lot of different aspects to consider.
SH
Shantay
1 year ago
I think MIL could also be useful in this situation.
JA
Jackie
2 years ago
I agree, RAQSCI is a great acronym to help set those limits.
ME
Mel
2 years ago
I disagree, I believe the answer is B) RAQSCI.
DE
Denae
2 years ago
I think the answer is A) MIL.