SECTION A: FILL IN THE MISSING WORDS
QUESTION 1 {40 MARKS)
Below are 20 statements. Each has a missing term represented by a blank space. Write down
or identify the correct missing word. Each correct answer is equivalent to 2 marks
1.1 To manage international trade obligations effectively, companies must understand
_____
_, which outlines the responsibilities of buyers and sellers.
1.2 ______
allows businesses to access diverse materials from international suppliers,
enhancing product variety and cost efficiency.
1.3 The unpredictable nature of war, pandemics, and strikes often leads to ______
_
affecting global production and distribution.
1.4 Companies measuring environmental impact from production to disposal use
-------
tools.
1.5 One of the first steps in responsible procurement is performing _____
to assess
the risks and integrity of potential suppliers.
1.6 Ensuring ethical labour practices, reducing emissions, and choosing eco-friendly suppliers
are all elements of -------
1.7 When firms use multiple vendors to avoid overdependence, they engage in
1.8 A manufacturer failing to deliver parts on time reveals a weakness in _____
1.9 Excessive communication layers and multiple supplier tiers lead to _______
_
in a
supply chain.
1.10 One challenge with _______
is balancing production schedules with
unpredictable customer demand.
1.11 Thinking from the _____
_ means evaluating a product's impact from
creation to disposal.
1.12 _______
provides internationally recognised guidance for integrating
sustainability into procurement processes.
1.13 Managing contract performance, resolving disputes, and ensuring deliverables are all
part of ______
_
1.14 When a risk is identified but considered minor or acceptable, a company may choose
to _____
it and take no immediate action.
1.15 A company that introduces new safety protocols and invests in improved systems to
reduce an identified risk is choosing to ____
the risk.
1.16 To avoid direct exposure to risks such as theft or damage during shipping, many
companies ____
the risk by outsourcing or insuring it.
1.17 When a risk is deemed too great to manage or mitigate effectively, organisations may
____
the risky activity altogether by halting the operation.
1.18 A pharmaceutical company chose ______
by delaying a new drug launch until
regulatory clarity was achieved in its target markets.
1.19 A logistics firm optimised its warehousing and transportation systems to improve its
product delivery speed and customer satisfaction. This is an example of enhancing
_______
_, a key component of Porter's Value Chain.
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