A procurement outsourcing contract that covers approval workflow,material acquisition,purchase order,expediting,material and invoice receipt,invoice payment,financial performance,compliance management,policies and procedures,and performance and results reporting is called:
A)procure-to-contract (P2P).
B)source-to-contract (S2C).
C)procure-to-pay (P2P).
D)source-to-pay (S2P).
E)third party logistics (3PL).

Question

Quizplus · Accepted Answer

The described contract covers the entire procurement process from acquiring materials to paying invoices, therefore it is a procure-to-pay (P2P) contract. Choices A and B (procure-to-contract and source-to-contract) do not accurately reflect the scope of the contract. Choice D (source-to-pay) is similar to P2P but emphasizes the sourcing aspect, whereas P2P encompasses the entire process. Choice E (third party logistics) is not relevant as it specifically pertains to the outsourcing of logistics services.

A Procurement Outsourcing Contract That Covers Approval Workflow,material Acquisition,purchase Order,expediting,material