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CIPS L4M8 certification exam is designed to test candidates' understanding of key procurement and supply chain concepts and their ability to apply them in real-world scenarios. L4M8 exam consists of 60 multiple-choice questions and candidates have two hours to complete it. The questions are designed to be challenging, ensuring that only the most knowledgeable and skilled professionals are awarded the certification.
CIPS L4M8 Exam is ideal for professionals who are looking to advance their careers in procurement and supply chain management. It is also an excellent choice for those who want to gain a comprehensive understanding of the procurement process and how it relates to other areas of the business. The CIPS L4M8 exam is recognized globally and is highly valued by employers in the procurement and supply chain industry.
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CIPS L4M8 Certification Exam is a rigorous program that requires candidates to demonstrate a high level of knowledge and expertise in the field of procurement and supply chain management. L4M8 exam consists of multiple-choice questions, and candidates are required to pass with a minimum score of 60%. Procurement and Supply in Practice certification is recognized globally, and is highly valued by employers in the procurement and supply chain management industry. Obtaining the CIPS L4M8 Certification can open up new career opportunities and help professionals advance their careers in procurement and supply chain management.
NEW QUESTION # 129
Why is it important to have adequate procedures in place within an organization in relation to bribery?
Answer:
Explanation:
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
* Refer to the question column for response
NEW QUESTION # 130
What are the two options for the disposal of an asset if resale is not possible?
Answer:
Explanation:
See the answer in explanation.
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 # 131
Which theory relates to the 3Ps
Answer:
Explanation:
Trying to measure how sustainable an organization was use to be challenging undertaking. However, during the 1990s, a concept brought up by American John Elkington change the way sustainability was measured.
This framework is known as the triple bottom line (TBL) and measures sustainability in relation to organizational performance and investment against the 3Ps (1) Profits (2) People (3) Planet. For example; Profit: A packaging manufacturer reinventing its profits in a State- of-the-art recycling machinery for it wasted cardboard.
People: A large privately owned call centre donate its end of life computers to a local youth clubs and social groups to help gain internet cases.
NEW QUESTION # 132
What are the four methods that can be used to try to resolve dispute?
Answer:
Explanation:
Conflict or dispute is the final area a procurement professional considers when creating terms for a contract with a supplier. If conflict or dispute arises, there must be a process put in place in the contract to try to resolve it and these includes; a) Negotiation, b) mediation, c) arbitration and d) litigation.
Negotiation is usually carried out between senior people within organization that are in conflict, if they cannot reach an agreement through negotiation, mediation is the next stage, mediation is when a third party tries to help find a resolution among the parties in dispute. If mediation fails arbitration can start, arbitration involve independent professionals (arbitrators) working with all the party to try to reach an agreement. Parties do not have a formal or legal obligation to follow the arbitrator's recommendation. Arbitration is expensive. If arbitration fails to resolve the conflict, the final stage is litigation, litigation takes time and money, and most people avoid it. It is a legal process where a court decides on the outcome of the dispute. The judge's ruling is final.
NEW QUESTION # 133
Write down a list of assets that belong to an organization with which you are familiar.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Assets are things that an organization owns regarded as having value and available to meet debt and generate revenue. The following are list of assets owned by Fullpower project, a shoe manufacturing firm;
1) Machinery,
2) a factory,
3) an innovative software,
4) skills of its personnel,
5) land,
6) Distribution network.
7) Its long time relationship with experienced suppliers of raw materials and Distributors of finished shoes.
NEW QUESTION # 134
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