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CIPS L4M8 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Whole Life Asset & Cost Management | 25% | - Total cost of ownership concept
|
| Topic 2: Ethics, Responsibility & Compliance | 25% | - Ethical and responsible sourcing application
|
| Topic 3: Application of Procurement Cycle | 25% | - Key stages of procurement cycle in practice
|
| Topic 4: Sourcing Process & Supplier Management | 25% | - Stages of strategic sourcing
|
CIPS Procurement and Supply in Practice Sample Questions:
Describe a current or recent trade war of which you are aware and explain the implication it has for world trade.
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Trade war is an economic conflict where countries make it difficult for global trading to happen. Trade wars can make importing products to a country very expensive. A recent example is the US-China trade war; prices were raised on us-built vehicles exported to China. This affected consumer the most as there was an upshot of price.
Why is it important to keep ethical codes of practice up to date?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
A code of ethics is a set of morals and principle set out by an organization to state what it deems to be acceptable conduct and behavior An ethical code of practice is a continually changing and developing document with society changing and different suppliers coming to market, the document has to remain current Suppliers should continually monitor their codes of ethics to ensure that;
1. They are looking after the interest of the supply chain
2. That potential customers can be reassured that they are conforming to the required regulation, e.g. ISO
14001.
Ethical code of conduct should be constantly monitored and updated in accordance with the changes organization faces. This include 1) Define (2) prevent (3) detect (4) reprove (5) evaluate.
* Refer to the question column for response
Why is it important to have adequate procedures in place within an organization in relation to bribery?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Bribery is the act of giving someone something of value to persuade them to do something that benefits you.
Ethical and responsible sourcing requires conducting due diligence on bribery before going into contractual relationship because failure to this might lead to loss in reputation.
In other for an organization to defend itself against a case of suspected bribery, the United Kingdom bribery Act introduced in 2010 suggests that organizations should have adequate procedures' in place.
The following are six procedures an organization should have in place to be able to defend itself against bribery
1) Proportionate procedure
2) Top level commitment
3) risk assessment
4) due diligence
5) communication
6) monitoring and reviewing
What is business case?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
A business case is a document containing the justification and the commercial benefits achievable for a potential project or an identified need, for example, the purchase of a capital equipment, con-struction of an additional warehouse or procuring more innovative software to replace the current on in use.
The essence of the business case is to obtain support and get buy-in from senior management.
In order to gain authority to apply whole life asset management a business case will need to be created and presented. A developed business case will cover the following element.
1) Introduction: Outline of what the business case is all about
2) Objective: Explanation of what the business case desired outcome is.
3) Approach that will be undertaken
4) List of resources required
5) Benefits of achieving the objective
* Refer to the question column for response
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
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