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CIPS L4M8 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Supplier Relationships and Performance | - Supplier relationship management
|
| Topic 2: Procurement Process and Sourcing | - Supplier selection and evaluation
|
| Topic 3: Procurement and Supply Context | - Role of procurement in organisations
|
| Topic 4: Contracting and Legal Principles | - Contract formation
|
| Topic 5: Procurement Technology and Innovation | - Digital procurement tools
|
| Topic 6: Risk, Ethics and Sustainability | - Procurement risk management
|
CIPS Procurement and Supply in Practice Sample Questions:
What are Carter's 10Cs?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Carter's 10cs is a detailed mechanism that procurement professional uses to evaluate potential supplier. What the procurement professional should consider in supplier are the following 10 things.
1) Competency 2) capacity 3) Cost 4) Cash 5) Clean 6) Consistency 7) Control 8) Cul-ture 9) Commitment
10) Communication.
How does positive social impact present itself?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Organizations which display good behavior create a positive social impact. The com-munity in which they are based and to which they supply will benefit from the following.
1. High employment
2. Fair wages
3. low pollution
4. sustainable resources
5. Engagement and movement with local organization
What are the definition of a new buy and a modified re-buy?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
A new buy is the purchase of goods and services by an organization or an individual for its first time. For example a transport organization for the very first time contracting the purchase of a Lorry out to an external supplier. In situations like this, it is advisable to start the procurement cycle from the very first stage. Which is understanding the need and developing high level specification.
Modified re-buy is the purchase of goods or services that an organization has bought before there was a need but with changes to the specification or supplier or quantity or quality. In carrying out modified re-buy, procurement professional should start from the very first stage of the procurement cycle to justify the added need and follow through. Not in all cases that buyer would have to start from understanding the need. In a situation where the changes required is a change of supplier, the organization will start from its preferred suppliers list and contract the next ranking supplier as the case may be.
* Refer to the question column for response
Describe two negative factors associated with ordering excess inventory.
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
In the decision to not run out of supplies, organizations can anticipate a peak were by it products will be in a high demand or a period of scarcity of raw materials and may want to increase the in-ventory. However, if this forecast is not accurate, it may lead the organization to holding excess inventory. This can expose the organization to some negative factors.
Acquisition Cost: The organization will incur an acquisition cost for the excess inventory which is inclusive of the cost of placing the order and the cost of purchasing the goods.
Holding Cost: The organization will spend more money holding the stock, trying to keep it in good condition by providing the required light, temperature, skilled handlers and so on.
Working Capital not adding value: This will off shoot the holding cost. Also valuable working capital in excess stock which in the time not adding value, can affect the liquidity of the business. This is also an opportunity cost and increase solvency.
* Refer to the question column for response
What are Carter's 10Cs?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Carter's 10cs is a detailed mechanism that procurement professional uses to evaluate potential supplier. What the procurement professional should consider in supplier are the following 10 things.
1) Competency 2) capacity 3) Cost 4) Cash 5) Clean 6) Consistency 7) Control 8) Culture 9) Com-mitment
10) Communication.
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