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CIPS L4M8 Exam Syllabus Topics:

Section	Objectives
Contracting and Legal Principles	- Contract management 1. Dispute resolution and remedies 2. Performance measurement - Contract formation 1. Key elements of contracts 2. Terms and conditions
Procurement Technology and Innovation	- Innovation in supply management 1. Automation and AI applications 2. Process optimisation - Digital procurement tools 1. Data analytics in procurement 2. E-procurement systems
Procurement Process and Sourcing	- Sourcing strategies 1. Outsourcing and insourcing approaches 2. Make or buy decisions - Supplier selection and evaluation 1. Supplier appraisal techniques 2. Pre-qualification and tendering
Supplier Relationships and Performance	- Supplier relationship management 1. Communication and governance 2. Collaboration and partnership models - Performance improvement 1. KPIs and measurement systems 2. Continuous improvement approaches
Procurement and Supply Context	- Role of procurement in organisations 1. Organisational objectives and procurement contribution 2. Stakeholder expectations and value delivery - External business environment 1. Economic and regulatory influences 2. Market conditions and supply markets
Risk, Ethics and Sustainability	- Ethical and sustainable procurement 1. Sustainable sourcing practices 2. Corporate social responsibility - Procurement risk management 1. Supply chain disruptions 2. Risk identification and mitigation

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In addition to our CIPS L4M8 exam questions, we also offer a CIPS Practice Test engine. This engine contains real L4M8 practice questions designed to help you get familiar with the actual L4M8 Exam Pattern. Our Procurement and Supply in Practice exam practice test engine will help you gauge your progress, identify areas of weakness, and master the material.

CIPS Procurement and Supply in Practice Sample Questions (Q51-Q56):

NEW QUESTION # 51
Which products or services should not be considered for outsourcing, according to Carter's out-sourcing matrix

Answer:

Explanation:
See the answer in explanation.
Explanation:
Carters outsource matrix is a useful tool that procurement professionals uses to decide which products or services has a high or low contribution to the organization operation performance and its strategic importance.
The matrix segments products/services into four quadrants. These are Eliminate, outsource, strategic alliance and retain.
According to Carters outsource matrix, all product/services that has a high strategic importance should not be outsourced. They should rather be retained in house or carefully chose suitable sup-pliers and go into strategic alliance.

NEW QUESTION # 52
Looking at stage 8 of the procurement and supply cycle, what does TCA mean?

Answer:

Explanation:
See the answer in explanation.
Explanation:
When evaluating offers, it is important to remember that the best price may not be the lowest. To ascertain that; the total cost of Acquisition TCA (the cost a buyer bears for placing orders and re-ceiving a product from a supplier) should be uncovered and compare against offers received. Things to consider that might make up the total cost of acquisition are;
1) logistics and handling costs
2) Cost of requisition
3) Rework
4) stock cost
5) Delay
6) Inspection
7) customer services
8) consumables
9) Training & support
* Refer to the question column for response

NEW QUESTION # 53
Think of a supply chain with which you are familiar and distinguish between the primary, second-ary and tertiary sector organization within it.

Answer:

Explanation:
See the answer in explanation.
Explanation:
Supply chain involves a network of individuals, organizations, technology activities and resources to make sure goods or services flow along the chain. If one point fails, every part further along the chain fails.
Fullpower projects (a flour manufacturer) supply chain begins with producers (raw materials, wheat farmers), suppliers, manufactures, distributors, retailers and end users (customer).
Fullpower projects supply chain falls within the primary sector (producers of wheat), the secondary sector include the manufacturing (those that converts the wheat the suppliers brings into flour) and tertiary sector (the distributor those that takes the wheat to the end users).

NEW QUESTION # 54
What effect is technology having on jobs within an organization with which you are familiar with?

Answer:

Explanation:
See the answer in explanation.
Explanation:
With the ever developing use of technology, organizations are often under pressure to keep up with numerous technological advances. Jobs could be created in line with technology. Advances in technology can also results in lack of requirement for human impact and as such, jobs could be lost. Though it can help save time and retain bulk files in no space.

NEW QUESTION # 55
Which contract term contains details of when a product or service should be delivered and ex-plained the potential loss of business?

Answer:

Explanation:
See the answer in explanation.
Explanation:
Contract terms are the right and duties agreed between parties with which are then documented in contract.
Terms can be either implied or expression.
Implied terms are always present in a contract and are set by national laws; like the sales of goods act, whereas express terms are negotiated and created, for example; time is of the essence. When the procurement professional is setting key performance indicators, where which the supplier's performance will be monitored and managed, the KPI is expected to be SMART. The SMART is an acronym that is used to set KPI and specification. It means:
Specific
Measurable
Achievable
Relevant
Time bound
* Refer to the question column for response

NEW QUESTION # 56
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