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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Procurement Process and Procedures | 25-30% | - Contract award criteria - Purchase ordering and goods receipt - Procurement cycle stages - Supplier selection methods - Requirements gathering and specification |
| Topic 2: Supplier Relationship Management | 20-25% | - Risk management in supplier relationships - Partnership and collaboration models - Supplier performance measurement (KPI, scorecards) - Supplier relationship types - Supplier development and improvement |
| Topic 3: Practical Application Scenarios | 15-20% | - Problem-solving and decision-making - Applying theory to real-world procurement situations - Case study analysis - Recommendation and justification skills |
| Topic 4: Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Spend analysis techniques - Category segmentation - Supplier segmentation and criticality analysis |
| Topic 5: Ethical and Sustainable Procurement | 15-20% | - Environmental sustainability in procurement - Corporate Social Responsibility (CSR) - Supply chain transparency - Modern slavery and fair trade - Ethical sourcing considerations |
The Procurement and Supply in Practice has become very significant to validate expertise and level up career. Success in the Procurement and Supply in Practice exam helps you meet the ever-changing dynamics of the tech industry. latest Procurement and Supply in Practice L4M8 Exam Cram Pdf, collection pdf and exam dumps have been provided in BraindumpStudy. With 365 days updates.
NEW QUESTION # 175
Explain how procurement should decide whether to make or buy a product or service.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Make or buy decision are about whether a products or services should be made within the organization or bought-in from an external supplier.
For a procurement professional to establish which method (make or buy) offers the best value, the item in question must be thought through if it is core to the organization and which option will add more value to the organization, as regards achieving its strategic goals. If it is core the procurement professional decide to make it and if it is not core the product or services can be bought in.
NEW QUESTION # 176
Which Incoterm applies here?
The supplier is responsible for delivering the goods to the buyer's premises include arranging any custom clearances that applies, bearing all risk up until this point.
Answer: B
NEW QUESTION # 177
Which four procurement cycle stages happen after the award of the contract?
Answer:
Explanation:
The procurement cycle is the heart of purchasing, sourcing and supplying and should be followed in day-to-day practice in the industry. The procurement cycle has thirteen stages. Contract award is stage 9, and the stages after the contract award are; Stage 10: ware house, logistic and receipt Stage 11: Contract performance review and continuous improvement Stage 12: SRM/SCM and contract management Stage 13: Asset management, lessons learned, end of life.
NEW QUESTION # 178
Why is it important to keep ethical codes of practice up to date?
Answer:
Explanation:
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.
NEW QUESTION # 179
Research the ethical standard or accreditations of an industry with which you are familiar
Answer:
Explanation:
If a supplier is accredited or is a member of an association that promotes good ethical conduct, a statement to this effect is likely to be featured on its company documentation. This could be in a form of letters after the organization name or the authorized use of logo.
Accreditation information should be verified by procurement professionals either asking organiza-tion for certification to prove membership or accreditation or checking on a professional register.
Below are associated bodies that form some industries.
1. ISO 14001 - for quality management
2. CIPS - for procurement and Supply
3. Red Tractor - NGO Registered in the UK, promoting human right
4. Amnesty International - human right
5. Carbon Trust - For Carbon neutral status.
NEW QUESTION # 180
......
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