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| Section | Objectives |
|---|---|
| Topic 1: Understand compliance issues when sourcing from suppliers | - Codes of conduct and ethical standards - Anti-bribery and anti-corruption measures - Regulatory and legal compliance - Modern slavery and human rights in supply chains - Global sourcing considerations and Incoterms - Ethical sourcing and corporate social responsibility (CSR) - Sustainability and environmental considerations |
| Topic 2: Understand the key processes that can be applied to the analysis of potential external suppliers | - Financial analysis of suppliers - Supplier appraisal and evaluation methods - Supplier audits and due diligence - Risk assessment in supplier selection - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) |
| Topic 3: Understand options for sourcing of requirements from suppliers | - Sourcing strategies and approaches - Single, dual and multiple sourcing - Insourcing vs outsourcing decisions - Factors influencing sourcing decisions |
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NEW QUESTION # 264
In which type of sourcing arrangement would the development of astrategic alliancebe the most appropriate?
Answer: C
Explanation:
Astrategic allianceis most appropriate in asingle sourcingarrangement where the buyer relies on one supplier for a significant proportion of supply. Single sourcing encourages long-term collaboration, trust, joint investment, innovation, and shared risk management. Strategic alliances are not suitable for competitive or multiple sourcing, where maintaining competition and switching flexibility is the priority. Internal sourcing does not involve an external supplier relationship. Ethical and responsible sourcing promotes strategic alliances where long-term value, sustainability, quality improvement, and supply continuity are critical to organisational success.
Reference:CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - sourcing strategies; single sourcing and supplier relationships.
NEW QUESTION # 265
Why is it important to consider factors such as environmental, social, governance and ethics when analysing tender proposals from the market?
* To ensure adherence to sustainability initiatives
* To improve the process workflow
* To perform supplier spend and monitoring
* To identify potential risks within the supply chain
Answer: B
Explanation:
Incorporating Environmental, Social, and Governance (ESG) and ethical considerations into tender analysis is crucial for:
* Adherence to Sustainability Initiatives:Ensuring that suppliers align with the organisation's sustainability goals and legal obligations.
* Risk Identification:Assessing ESG factors helps in identifying potential risks in the supply chain, such as environmental violations or unethical labour practices, which can impact the organisation's reputation and operations.
Exact Extract from Study Guide:
"This unit focuses on responsible procurement practices, ensuring that sourcing decisions align with legal, environmental, and social governance (ESG) principles."
NEW QUESTION # 266
Tariffs and import duties imposed on a buying organisation for goods purchased from an international supplier provide benefit to ...
Answer: B
Explanation:
Tariffs/import duties increase the landed cost of imports, which shields domestic producers by making foreign alternatives relatively more expensive. They do not go to the foreign supplier and typically do not lower consumer prices.
Reference: CIPS L4M4 Study Guide (v2): LO "Implications of global sourcing" - trade barriers (tariffs/non- tariffs) and their market effects.
NEW QUESTION # 267
The use of Incoterms will eliminate all risks involved in international trade transactions. Is this statement true?
Answer: B
Explanation:
Incoterms clarify responsibilities between buyers and sellers, reducing certain risks but not eliminating them entirely. Responsible sourcing requires recognising that Incoterms are only part of risk management in international trade, and other factors, such as supplier reliability and quality, must be considered.
NEW QUESTION # 268
A buyer is responsible for the procurement of metals within the raw materials department. The buyer is preparing for next year's purchase orders and has been asked to confirm the month of order placement. The buyer has found three trends:
* In January and April, the supplier's local currency is stronger
* November typically has the lowest demand
* May typically has the highest demand
Which month should the buyer plan to place the purchase order?
Answer: D
Explanation:
Ordering in November, when demand is lowest, may allow the buyer to secure better pricing and availability, aligning with responsible sourcing by optimizing purchase timing to achieve cost savings and reliable supply.
NEW QUESTION # 269
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