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| Section | Objectives |
|---|---|
| Understand how to develop a business case for requirements to be sourced from external suppliers | - Analyse how market factors affect procurement |
| Understand the use of specifications in procurement and supply | |
| Understand market management in procurement and supply | - Compare the competitive forces that influence markets
|
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NEW QUESTION # 74
Which of the following events would increase the number of suppliers in a particular market?
Answer: C
Explanation:
Detailed Explanation:De-regulation removes barriers to entry, encouraging new suppliers to enter the market. Other factors, like high investment or stringent requirements, limit supplier participation. Reference:
CIPS Level 4, Market Entry and Supply Chain Factors.
NEW QUESTION # 75
Which of the following are the focuses of ISO 14001:2015?
Answer: C
Explanation:
ISO 14001:2015 specifies the requirements for an environmental management system that an or-ganization can use to enhance its environmental performance. ISO 14001:2015 is intended for use by an organization seeking to manage its environmental responsibilities in a systematic manner that contributes to the environmental pillar of sustainability.
ISO 14001:2015 helps an organization achieve the intended outcomes of its environmental man-agement system, which provide value for the environment, the organization itself and interested parties. Consistent with the organization's environmental policy, the intended outcomes of an environmental management system include:
* enhancement of environmental performance;
* fulfilment of compliance obligations;
* achievement of environmental objectives.
ISO 14001:2015 is applicable to any organization, regardless of size, type and nature, and applies to the environmental aspects of its activities, products and services that the organization determines it can either control or influence considering a life cycle perspective. ISO 14001:2015 does not state specific environmental performance criteria.
ISO 14001:2015 can be used in whole or in part to systematically improve environmental manage-ment.
Claims of conformity to ISO 14001:2015, however, are not acceptable unless all its require-ments are incorporated into an organization's environmental management system and fulfilled without exclusion.
In conclusion, ISO 14001:2015 focuses on: management system (including roles, leadership and processes) and the life cycle of product or service. Life cycle is defined as "consecutive and inter-linked stages of a product (or service) system, from raw material acquisition or generation from natural resources to final disposal. [...] The life cycle stages include acquisition of raw materials, design, production, transportation/ delivery, use, end-of-life treatment and final disposal." The answer is process and life cycle.
Reference:
- ISO 14001:2015 Environmental management systems - Requirements with guidance for use LO 3, AC 3.1
NEW QUESTION # 76
Which of the following factors might prompt an organisation to procure an alternative product? Select THREE that apply:
Answer: A,D,E
Explanation:
According to Michael Porter, the threat of substitution, is a function of three factors:
* The relative value/ price of a substitute compared to an industry's product
* The cost of switching to the substitute
* The buyer's propensity to switch
(Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 278). Free Press. Kindle Edition.) Reference: CIPS study guide page 92-97 LO 2, AC 2.2
NEW QUESTION # 77
Robert is a buyer at Pickton ' s Farm Products (PFP), a manufacturer of food products that are sold to supermarkets. Robert will be sourcing from local farmers to supply PFP with raw materials for PFP ' s products. What is a major supply chain risk that Robert needs to be aware of which is specific to this market?
Answer: D
Explanation:
Agricultural sourcing - such as buying from local farmers - is highly exposed to external risks, especially weather-related risks.
According to the CIPS L4M2 Defining Business Needs Study Guide, Chapter 4: Business Case Development, it explains:
"External risks can include factors such as economic trends, political instability, or natural factors like adverse weather, which can particularly impact sectors like agriculture and farming." Let's examine each option:
* A. Incorrect quantity causing storage charges - While possible, this is more of a logistical issue, not a major risk specific to agriculture.
* B. Extreme or unexpected weather conditions - This is a key risk in farming and agriculture. Weather affects crop yields, harvesting, and logistics. It directly impacts the supplier's ability to meet delivery terms.
* C. Prioritising other customers - A generic supply risk, but not unique to this market.
* D. Varying quality requiring returns - This could occur in any supply market and is part of routine quality assurance, not a primary agricultural risk.
Therefore, the correct answer is B, as weather risk is a market-specific and significant concern when sourcing from farmers.
CIPS Study Guide Reference:
* Module: L4M2 - Defining Business Needs
* Chapter 4: Developing the Business Case
* Section: External risks in specific supply markets (e.g. agriculture)
NEW QUESTION # 78
What criteria can be applied in the production of a business case?
Answer: C
Explanation:
Detailed Explanation:
A strong business case includes a clear assessment of costs, the expected benefits, and the viable options available. These criteria ensure a structured approach to decision-making and alignment with strategic goals.
Reference: CIPS Level 4, Business Case Development.
NEW QUESTION # 79
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