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NEW QUESTION # 282
Which of the following are secondary sources of market and supplier data? (Select TWO)
Answer: A,B
Explanation:
Secondary sources are data sets and publications that already exist and are not collected directly by the buyer.
Examples include published economic indices (A), which provide information on inflation, commodity prices, and market trends, and financial/trade press (D), which offers insights into industries, suppliers, and economic conditions. By contrast, a buyer's internal database and field observation studies are primary data sources, while supplier marketing materials are biased and less reliable. Responsible sourcing requires procurement professionals to use both secondary and primary sources for comprehensive market analysis, but secondary sources are especially useful for benchmarking and environmental scanning.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - sources of supplier and market intelligence.
NEW QUESTION # 283
Sourcing products internationally involves extra considerations when looking at the price of the item. Which of the following are additional price considerations for international sourcing? Select TWO
Answer: C,E
Explanation:
Exchange rates and tariffs are associated with international sourcing.
The other options are concerns for both local sourcing and international sourcing.
NEW QUESTION # 284
Yolo Inc. have recently run a tender opportunity to find a suitable supplier of yoyos and they have received a number of bids. The supplier will become a strategic partner to the business as yoyos are vital to the success to Yolo Inc. The tender asked for both price submissions and had a number of quality questions. Eamon is the Procurement Manager of Yolo Inc and is responsible for selectingthe most appropriate supplier. How should Eamon appraise the bids?
Answer: B
Explanation:
Eamon should use a cross-functional team (this rules out two of the options). The purpose of using a cross-functional team is to use the knowledge of people from other departments as they may better understand the service required and help assess any technical questions. Therefore a cross-functional team of procurement personnel, isn't cross-functional (they're all the same function). Yoyos is a bit of a silly example, the exam questions are a little more serious- but the learning outcome is the same; use a cross-functional team to evaluate bids.
NEW QUESTION # 285
Intra-company trading allows business units within a large enterprise to supply goods or services to another.
What are the likely objectives of intra-company trading?
Enhances production capacity utilisation
Offsets some of the fixed costs of the supplying entity
Compensates the supplying unit for the less effective technology applied Ensures internal technology always out-performs that of external suppliers
Answer: D
Explanation:
Intra-company trading aims to optimize internal resources by enhancing production capacity utilization and offsetting fixed costs. By supplying goods or services internally, organizations can achieve economies of scale and better allocate resources. However, compensating for less effective technology or ensuring superior internal technology over external suppliers are not primary objectives of intra-company trading.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 1.1.2: Make or buy decisions and the role of intra-company trading
NEW QUESTION # 286
Why should procurement collate and review the buying organisation's historic supplier spend data prior to tendering?
* To identify opportunities where savings can be achieved
* To ensure suppliers deliver goods and services on time
* To eliminate supplier corruption and favouritism
* To make informed decisions about the suppliers to work with
Answer: C
Explanation:
Reviewing historical supplier spend data enables procurement professionals to identify areas wherecost savings can be achieved by analyzing past expenditures and supplier performance. This analysis also aids in making informed decisions about future supplier engagements by understanding previous spending patterns and supplier reliability.
Exact Extract from Study Guide:
"Spend analysis is a process that analyses the historical spend data of your organisation to provide answers to questions concerning spend visibility, compliance, and cost-saving opportunities."
NEW QUESTION # 287
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