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| Section | Objectives |
|---|---|
| Understand the key processes that can be applied to the analysis of potential external suppliers | - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Financial analysis of suppliers - Supplier appraisal and evaluation methods - Supplier audits and due diligence - Risk assessment in supplier selection |
| Understand compliance issues when sourcing from suppliers | - Anti-bribery and anti-corruption measures - Global sourcing considerations and Incoterms - Sustainability and environmental considerations - Modern slavery and human rights in supply chains - Codes of conduct and ethical standards - Ethical sourcing and corporate social responsibility (CSR) - Regulatory and legal compliance |
| Understand options for sourcing of requirements from suppliers | - Factors influencing sourcing decisions - Single, dual and multiple sourcing - Sourcing strategies and approaches - Insourcing vs outsourcing decisions |
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NEW QUESTION # 197
When working closely with a supplier, waste can be reduced which can lead to improved business functions and cost savings. Which of the following are wastes that can be removed from the supply chain? Select THREE.
Answer: A,D,E
Explanation:
The correct answers are; motion, waiting and inventory.
This is part of Ohno's 8 Wastes. You can remember this with the acronym Tim Woods; transportation, inventory, motion, waiting, over-production, over-processing, defects, skills.
This is only mentioned briefly in this module but comes up in other modules more in depth, so is worth memorising if you can.
NEW QUESTION # 198
Which of the following financial ratios would indicate a supplier's potential exposure risk to a steeprise in inflation?
Answer: C
Explanation:
The correct answer is 'gearing ratio'.
Gearing measures how much of a company's funding is based on long-term debt or loans- this would be affected by a steep rise in inflation. If a company has a mortgage on their offices or facto-ry and they need to remortgage and inflation has gone up a lot- they'll be paying a lot more on their mortgage. This will severely effect the gearing ratio as they'll have more outgoings than incoming.
Gross profit margin COULD be affected by inflation, for example if you've got hyper-inflation and the country goes into recession and people stop buying your product. However, this answer isn't al-ways right and depends on many factors- the industry, the product, the company etc, so for the purpose of CIPS should be discounted. There are many industries which are immune to inflation.
NEW QUESTION # 199
Why should procurement collate and review the buying organisation's historic supplier spend data prior to tendering?
* To identify opportunities where savings can be achieved
* To ensure suppliers deliver goods and services on time
* To eliminate supplier corruption and favouritism
* To make informed decisions about the suppliers to work with
Answer: B
Explanation:
Reviewing historical supplier spend data enables procurement professionals to identify areas wherecost savings can be achieved by analyzing past expenditures and supplier performance. This analysis also aids in making informed decisions about future supplier engagements by understanding previous spending patterns and supplier reliability.
Exact Extract from Study Guide:
"Spend analysis is a process that analyses the historical spend data of your organisation to provide answers to questions concerning spend visibility, compliance, and cost-saving opportunities."
NEW QUESTION # 200
Damian is a procurement professional in the Public Sector. He has recently run a competition to source new uniforms for hospital staff and has decided on a suitable supplier. Should Damian con-duct post tender negotiation with the supplier?
Answer: B
Explanation:
Damian works in the Public Sector- it is against the law for the public sector to conduct 'post tender negotiation' after a contract has been awarded. This is because it's not transparent and equal opportunities, which are founding principles of public sector procurement.
Private sector can do whatever they want. They can do post-tender negotiations.
NOTE: this is currently the rules as per Public Contract Regulations 2015. These are being superseded in October by new legislation. The study guide doesn't mention this, but it's happening. At the time of writing (January 2023) we don't have the full details about what the new rules are but I doubt they will change on this particular topic. You can find out more about the changes to Public Sector Procurement here: Transforming Public Procurement - GOV.UK (www.gov.uk)
NEW QUESTION # 201
A buyer is only interested in working with suppliers who have strong Environmental and Social Governance practices. It is therefore using ethical criteria as supplier selection stage to determine which suppliers to work with. Which of the following statements is true?
Answer: C
Explanation:
A supplier who follows the CIPS Code of Conduct is more likely to meet the buyer's needs is the correct answer.
The other options are wrong:
1) Compliance with Codes of Conduct from professional bodies is optional. E.g. CIPS - no organi-sation is forced to comply with CIPS.
2) Unethical behaviour is not impossible to detect, it may be difficult but with correct due diligence and things like audits it's completely possible
3) ISO 14001 is quality management so is irelevent.
NEW QUESTION # 202
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