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CIPS L4M8 Certification Exam is open to anyone who has completed the CIPS L4M1 (Procurement and Supply Environments) and L4M2 (Procurement and Supply Operations) qualifications. Candidates who have completed other relevant qualifications or have relevant work experience may also be eligible to take the exam. L4M8 Exam is offered online and can be taken at any time, making it convenient for candidates to schedule their exam at a time that suits them.
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The Chartered Institute of Procurement and Supply (CIPS) is the leading global professional body for supply chain management and procurement. Offering a range of internationally recognized qualifications, CIPS equips professionals with the skills and knowledge necessary to advance their careers and drive organizational performance. One such qualification is the CIPS L4M8 (Procurement and Supply in Practice) Exam, which has been designed to help supply chain practitioners develop a deeper understanding of the practical applications of procurement and supply management.
Candidates who successfully complete the CIPS L4M8 Exam will be awarded the CIPS Diploma in Procurement and Supply, which is a globally recognized qualification that demonstrates a commitment to professional development and continuous learning. Whether you are just starting out in your career or looking to take it to the next level, the CIPS L4M8 Exam can help you develop the skills and knowledge you need to succeed in procurement and supply chain management.
NEW QUESTION # 194
What are five recognized types of modern slavery?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Modern slavery is against ethical and responsible sourcing. Modern slavery is one of the areas to understudy for procurement professionals to carry out ethical and responsible sourcing and this is recognized in five ways.
1. Human trafficking: The process of seeking, recruiting, transporting and exploiting individuals to work against their will. Often human trafficking includes violence, deception, and coercion.
2. Bonded labour (debt bondage): This is an individual's promise to provide service through ex-ploitation as repayment, or part thereof, of a dept or other obligation.
3. Forced labour: Work that people are forced to do with the treat of punishment if it is not carried out.
4. Children labour: The exploitative and illegal employment of children.
5. Domestic slavery: Individuals exploited through working in private households for little or no money in return for living accommodation.
* Refer to the question column for response
NEW QUESTION # 195
What happens in the public sector, regarding providing feedback?
Answer:
Explanation:
See the answer in explanation.
Explanation:
A sector is an area of an industry, e.g., private, public or third sector.
A public sector is a sector of the economy that is owned, finance and run by the government. This sector is financed with tax payer's money. And therefore owe the general public an ethical explanation towards all investment and decision.
Once the supplier that is awarded the contract has accepted, the buyer can tell the unsuccessful bidders. This usually happens through email or letter. The public sector is more likely to give feedback to unsuccessful bidders and also have to respond to any stakeholders that request information on why a supplier is not successful.
NEW QUESTION # 196
What is depreciation and deterioration?
Answer:
Explanation:
See the answer in explanation.
Explanation:
When an organization want to purchase an asset, it considers the depreciation and deterioration in the whole life of the asset and how it will be manage.
Depreciation is the reduction in value of a tangible and a fixed asset over time. The purpose of calculating the depreciation of the asset is to give the organization a fair and current view of what the asset is worth at a particular time. Depreciation is a way of converting the cost of an asset into an expense over a period of time.
Depreciation is a permanent feature listed against an asset throughout its life time and it based on wear and tear, reduction in performance and reduction in value.
Deterioration is the process of something becoming lower in quality or performance. The longer the asset can last without deteriorating the better value the asset represents.
NEW QUESTION # 197
KPI should be written to match which area of an organization?
Answer:
Explanation:
Key performance indicator (KPI) is another method of monitoring how a supplier is delivering on a contract.
When creating KPIs to manage suppliers and their contracts the areas monitored should be related to the organization's overall strategy that is where organization's success will be measured.
NEW QUESTION # 198
What are the two options for the disposal of an asset if resale is not possible?
Answer:
Explanation:
Disposal of an asset is the final stage in the decommissioning process of a fixed asset.
When a fixed asset reaches the end of its useful or cost effective life time within an organization, the decision is made as to whether it should be removed from the premises or disposed off.
If the asset is truly at the end of its life, no longer fit for purpose, not cost effective to repair and is not able to be exchanged, then disposal is the only option; there are two options for disposal;
1) Take the asset to land fill site
2) Taking the asset to a recycling plant.
NEW QUESTION # 199
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