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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Procurement and Supply in Practice |
| Exam Number: | L4M8 |
| Exam Format: | Multiple choice questions, Computer-based exam, Objective test |
| Certificate Validity Period: | No expiry (qualification does not expire once awarded) |
| Available Languages: | English |
| Exam Duration: | 120 minutes |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Recommended Training: | CIPS Official Learning CIPS Study Resources |
| Exam Registration: | Pearson VUE CIPS Exams CIPS Qualifications Page |
| Sample Questions: | CIPS L4M8 Sample Questions |
| Exam Way: | Computer-based exam delivered via Pearson VUE test centres or authorised CIPS assessment centres (some regions may offer remote proctoring) |
| Pre Condition: | No formal prerequisite; CIPS Level 3 Diploma (or equivalent experience) is recommended |
| Official Syllabus URL: | https://www.cips.org/qualifications/diploma-level-4-procurement-and-supply/ |
The CIPS L4M8 certification exam and this will assist you to take the right decision for your career. The right decision is to enroll in the CIPS L4M8 exam and start preparation with top-notch CIPS L4M8 Exam Dumps. All CIPS L4M8 practice test questions formats are ready for quick download.
CIPS L4M8 exam is internationally recognized and is ideally suited for procurement and supply chain professionals who are looking to advance their careers. L4M8 exam is a requisite for individuals who wish to pursue higher-level courses in procurement and supply chain management, such as the CIPS L5M5: Managing Ethical Procurement and Supply course.
CIPS L4M8 exam covers a range of topics that are essential for procurement professionals to understand. These topics include supplier management, contract management, negotiation, and procurement strategy development. L4M8 exam also covers areas such as risk management, ethical considerations, and sustainable procurement practices. Overall, the exam is designed to test the candidate’s ability to apply procurement and supply chain management theory to real-world scenarios.
CIPS L4M8 Exam is a certification exam in procurement and supply that covers a wide range of topics related to the practice of procurement. L4M8 exam is designed to test the knowledge and skills of professionals who are working in procurement and supply, and who are looking to advance their careers in this field. L4M8 exam is administered by the Chartered Institute of Procurement and Supply (CIPS), which is the world's largest professional organization for procurement and supply management.
NEW QUESTION # 72
Explain how procurement should decide whether to make or buy a product or service.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Make or buy decision are about whether a products or services should be made within the organization or bought-in from an external supplier.
For a procurement professional to establish which method (make or buy) offers the best value, the item in question must be thought through if it is core to the organization and which option will add more value to the organization, as regards achieving its strategic goals. If it is core the procurement professional decide to make it and if it is not core the product or services can be bought in.
NEW QUESTION # 73
Describe two ways in which an organization with which you are familiar could use continuous im-provement as part of whole life asset management.
Answer:
Explanation:
Continuous improvement relates to removing waste from the supply chain and improving processes to increase efficiency within whole life asset management in a full power project (a flour producing firm) can benefit from continuous improvement in the following ways;
1) Reduce cost of spears by recondition parts, instead of disposing them out rightly.
2) Can reduce down time by conducting routine maintenance after hours.
3) Can reducing accident by up skilling operators on safety
4) Can reduce waste oil by following owner's manual instead of relying on experience.
5) Create efficiencies by operating a 24/7 shift pattern.
* Refer to the question column for response
NEW QUESTION # 74
What are the four stages of decommissioning?
Answer:
Explanation:
See the answer in explanation.
Explanation:
When a fixed asset reaches the end of its life, it requires decommissioning before reconditioning or disposal.
Decommissioning is to observe all the safety measures and technical procedures and stop active machinery or an asset from operation (example gas plan, generator, transformer etc.
Decommissioning process include the following aspect
1) Preparation: Plan the process
2) Dismantle: Take the asset apart and remove hazardous waste
3) Processing: make safe any hazardous waste
4) Disposal: Ensure paper work is received to confirm removal and disposal
NEW QUESTION # 75
What information should be included on a purchase requisition?
Answer:
Explanation:
RESPONSE
A purchase requisition should contain the following information
1) Date of the requisition
2) Description of what is required
3) Supplier if known
4) The quantity
5) when the need is required
6) why the need is required
7) who identified the need
8) who approved the need
9) if it's a re-buy
NEW QUESTION # 76
Use the balance sheet below to work out the correct ratio for coffee Time and explain whether the company appears to have enough assets to cover it liability.
Answer:
Explanation:
A current ratio of 1 shows that the organization has enough assets to repay (cover) it liability Buyers can be encouraged to deal with these suppliers after if they considered proven and strong in other areas.
Refer to the question column for response
NEW QUESTION # 77
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