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| Section | Objectives |
|---|---|
| Topic 1: Understand market management in procurement and supply | - Compare the competitive forces that influence markets
|
| Topic 2: Understand the use of specifications in procurement and supply | |
| Topic 3: Understand how to develop a business case for requirements to be sourced from external suppliers | - Analyse how market factors affect procurement |
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NEW QUESTION # 66
A company is considering buying a new computer system to handle large amounts of personal data and expects the system to perform in a particular way. Which of the following should be included in the performance specification? Select TWO that apply.
System operating conditions
Answer: A,B
NEW QUESTION # 67
Ranjit is purchasing a large piece of laboratory equipment which is brand new to the market. Can this be classified as a straight re-buy?
Answer: D
Explanation:
Comprehensive and Detailed Explanation (paraphrased from CIPS L4M2 content) CIPS uses the classic buying situation model:
New buy - first time the item is purchased; high information need and perceived risk.
Straight re-buy - routine repurchase of a product that has been bought before and is well-known.
Modified re-buy - a repeat purchase with some changes (e.g. spec, price, supplier).
Here, the equipment is brand new to market, meaning:
It has not been purchased before by the organisation.
There is no previous sourcing history for this specific product, so it cannot be a straight re-buy.
Thus:
Option D is correct - it is not a straight re-buy because it has not been specified or sourced before.
Option A is incorrect - even if the supplier has been used before, the product is new.
Option B - there cannot be an "existing specification" for something new to the market; if there is, it would be a modified or straight re-buy, not a new product situation.
Option C - a standing purchase agreement would imply established purchasing arrangements: that contradicts
"brand new to market".
Relevant CIPS L4M2 areas:
Buying situations: new buy, straight re-buy, modified re-buy
Implications for information gathering, evaluation and risk
How new products affect sourcing and market management
NEW QUESTION # 68
Which of the following is part of a conformance specification?
Answer: C
Explanation:
Detailed Explanation:Conformance specifications are highly detailed, covering exact materials, dimensions, tolerances, and technical drawings. They ensure precision in manufacturing and consistency between suppliers. Reference: CIPS Level 4, Specification and Contract Development.
NEW QUESTION # 69
EV Inc is facing the following challenges:
1. The capital investment is enormous.
2. Most of company's working capital is in form of inventories, which include raw materials, work-in-progress and finished goods.
3. Competitors are increasingly deploying robotics and automation to boost productivity.
Which of the below business sectors does EV Inc belong to?
Answer: D
Explanation:
Every sector among the options requires intensive capital investment. However, only manufacturing and retails bury much of their working capital in form of inventory. Raw materials and WIP only present in manufacturing sector.
The manufacturing industry is undergoing massive change, rivaling the Industrial Revolution that began in England and continued on Detroit's assembly lines. But today's revolution is "smart," thanks to factories using artificial intelligence and robots.
A new trend is the "cobot" - a collaborative robot designed to work with humans. One company called Moduform uses them to make furniture in the U.S. The company credits using cobots for reducing their staffing turnover, since the robots do mundane repetitive tasks that bore humans, while people can now do cognitive tasks requiring judgment and diversified responsibilities. Other innovations include 3D printing, Artificial Intelligence and automation.
Today's artificial intelligence manufacturing revolution improves performance in two key areas of manufacturing: productivity and quality control.
Reference:
- The Key Characteristics of Manufacturing (bizfluent.com)
- CIPS study guide page 74-76
LO 2, AC 2.1
NEW QUESTION # 70
A procurement manager decided to use a conformance specification in a request for quotation (RFQ) for the manufacturing of a specialist item designed by their company. The company does not have the capability to manufacture the item in-house, but requires the item to be made to their detailed specification. Was this the correct thing to do?
Answer: D
Explanation:
Comprehensive and Detailed Explanation (paraphrased from CIPS L4M2 content) CIPS L4M2 clearly distinguishes between conformance and performance specifications.
* A conformance specification describes exactly what the item must be like - dimensions, materials, design drawings, tolerances, etc.
* It is appropriate when the buyer already has a detailed design and simply wants the supplier to manufacture to that design.
In this scenario:
* The buyer's organisation has designed the specialist item and has a detailed specification.
* They cannot manufacture it in-house, but they need the item exactly as designed.
This is precisely when CIPS says a conformance specification is appropriate: the purpose is to ensure the supplier delivers exactly what has been specified and that the item meets all the buyer's technical and functional requirements.
* Option D matches this principle exactly.
* Option A mentions cost-effectiveness, which might happen, but it is not the main reason for using conformance specifications.
* Options B and C describe issues that are either irrelevant or are more associated with over-specification or missed innovation opportunities, not with the basic correctness of using conformance specifications in this situation.
Relevant CIPS L4M2 areas:
* Types of specification: conformance vs performance vs outcome
* When to use buyer-designed (conformance) specifications
* Risks and benefits of restricting supplier design freedom
NEW QUESTION # 71
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