Question: (i) Define the term performance measurement. (ii) Explain what the following terms imply in purchasing performance measurement: (I) Evaluation performance. (II) Economies. (III) Effectiveness.

(i) Define the term performance measurement.

(ii) Explain what the following terms imply in purchasing performance measurement:

(I) Evaluation performance.

(II) Economies.

(III) Effectiveness.

(b) (i) Define the term key performance indicators (KPIS).

(ii) State the three steps followed when developing key performance indicators.

(d) State five ways in which Activity Based Costing (ABC) contribute to performance measurement.

(e) (i) Define the term benchmarking.

(ii) State and briefly explain four types of benchmarking.

(f) State four purposes of purchasing management audit.

(g) State four criticisms raised against benchmarking as a purchasing performance measurement.

(h) State and briefly explain three main types of objectives that can be identified under Management By Objective (MBO) approach.

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i Performance measurement refers to the process of assessing and quantifying the performance or effectiveness of an individual department organization or system It involves the collection and analysis ... View full answer

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