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| Section | Objectives |
|---|---|
| Topic 1: Managing Supplier Relationships | - Contract and relationship control
|
| Topic 2: Dynamics of Supplier Relationships | - Relationship development factors
|
| Topic 3: Partnering and Collaboration | - Supply chain integration
|
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NEW QUESTION # 133
What is value mapping?
Answer: C
Explanation:
The definition of value mapping is given on p.69 this is; 'a process in which value is created through the elimination of waste and operational inefficiencies'. It ties into JIT / Lean.
NEW QUESTION # 134
Red Manufacturing work with around 40 different suppliers. One of these suppliers is Blue Business. Red Manufacturing order regularly from Blue Business, and have never had any issues with their performance.
The materials Blue Business supply are of low value and there are several other suppliers of these materials in the market. What type of relationship should Red Manufacturing seek to have with Blue Manufacturing?
Answer: D
Explanation:
The correct answer is 'arms length'. This is a tactical purchase (as it is low value) and keeping the supplier at arms-length means that Red Manufacturing could possibly exploit them to reduce their prices (think back to the Kraljic matrix and where Blue Business would likely fall). A Partnership or Single- Source relationship requires investment into the relationship, and as the products are low value and Red Manufacturing have a lot of other suppliers, they should not be investing time in developing that relationship with Blue Business. An adversarial relationship wouldn't be advantageous as it may lower the performance of the supplier. See the relationship spectrum on p.5 - this is a hot topic for the exam
NEW QUESTION # 135
Tim manages the procurement department at a large retailer. He wants to ensure that his team are achieving value for money in their procurement activities. Which of the following should Tim set up?
Answer: A
Explanation:
Tim should do an audit. P.71 of the textbook says "to ensure that a procurement department is achieving value for money, an audit should be undertaken"
NEW QUESTION # 136
In public sector procurement, according to EU legislation, certain items must be procured via open-competition. What type of items are these?
Answer: C
Explanation:
The correct answer is 'items of high value'. This links into the EU procurement principle of 'Proportionality' meaning that the procurement process must be proportionate to the value of the contract. Therefore, high value contracts must be procured via competition. What is considered 'high value' is decided by 'thresholds'. These are amended every 2 years to account for inflation etc, but you don't need to know what the thresholds are for this exam. P.75
NEW QUESTION # 137
Expensive and technically complicated supplies generally carry high financial risk, but low supply risk for the buyer. Is this statement correct?
Answer: C
Explanation:
In CIPS L4M6, supply risk is analysed alongside financial risk. Expensive and technically complex items are frequently bespoke or highly specialised, meaning that:
* There are few alternative suppliers
* Switching suppliers is difficult, costly, or impossible
This significantly increases supply risk, not reduces it. While financial risk is high due to value and complexity, supply risk is also high due to dependency and limited market availability.
The incorrect options misunderstand supply risk:
* Single sourcing increases supply risk
* Easy switching is rarely possible for complex supplies
* High-value complex items never carry low combined risk
L4M6 Reference:
* Learning Outcome 2: Understand supply chain risk and resilience
* Topic: Financial risk vs supply risk
* CIPS L4M6 Study Guide - Risk positioning and Kraljic portfolio thinking
NEW QUESTION # 138
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