Question: Question 1 Explain five targets that you might set for a procurement team for the next operational year. (15 marks) Question 2 Explain how a

Question 1 Explain five targets that you might set for a procurement team for the next operational year. (15 marks) Question 2 Explain how a procurement and supply function can reduce inventory costs by improving the following: (1) Economy (4marks) (ii) Efficiency (3marks) (iii) Effectiveness (3marks) Question 3 Explain how measuring the performance of a procurement and supply department can contribute to the achievement of the following objectives within an organisation: (a) Increasing profits (10 marks) (b) Delivering a higher quality product or service. (10 marks)

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