Purchasing & Vendor Management Unit 4: Discussion – Chapter Questions9DirectionsReview all questions and select three questions to address in 100 or more words. Support your thoughts with proven facts using the APA format.Make your initial post by 11:59 PM Thursday and reply to at least two classmates by 11:59 PM Sunday. Please keep your posts civil and show respect to your classmates.Questions1. Where do you believe buyers spend most of their time in negotiations?2. What are risks to buyers associated with each of the different types of contracts (fixed price, incentive and cost-based contracts)?3. What are risks to suppliers associated with each of the different types of contracts (fixed price, incentive and cost-based contracts)?4. Why do many firms attempt to avoid litigation in settling contract disputes?5. What are the implications of e-commerce on enforcing contracts? Where do you think the venue for resolution should be if a conflict arises?6. What does the term “agent” mean? Under what conditions can purchasing agents be held personally responsible for abusing their position?7. Suppose you arrive at a verbal agreement with someone on the price of purchasing his or her vehicle. Under what conditions have you reached an enforceable contract? Share an example of a verbal agreement you experienced.8. A seller verbally tells you that his cleaning product can remove any stain from the surface of your company vehicles. Your maintenance crew later finds out that this is not the case. In fact, you find that the cleaning product does not work very well at all in removing stains. Do you have a legal claim against this seller? What types of damages are you entitled to?9. Discuss the concept of ethics. Why is the purchasing profession particularly sensitive to this topic?10. Suppose a supplier gives you a price on a contract and then later comes back and claims that he mistakenly wrote down the wrong price. Do you have right to sue the supplier over breach of contract? What conditions are important here?
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