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| Section | Objectives |
|---|---|
| Understand the use of specifications in procurement and supply | |
| Understand market management in procurement and supply | - Compare the competitive forces that influence markets
|
| Understand how to develop a business case for requirements to be sourced from external suppliers | - Analyse how market factors affect procurement |
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NEW QUESTION # 254
A large sports organisation requires some additional racing equipment to be built. It should match exactly the pre-determined technical specifications and requires exact compatibility. Which of the following specifications would be most appropriate?
Answer: D
Explanation:
This scenario calls for precise technical compatibility and predefined requirements - key indicators for a conformance specification.
According to the CIPS L4M2 Study Guide, Chapter 1: Developing Specifications, conformance specifications are:
"Used when the buyer defines exactly what is required in terms of technical standards, design, materials, and methods of production. These are appropriate where consistency, compliance, and compatibility are essential." Option analysis:
* A. Conformance specification - Correct. Specifies exact details and methods.
* B. Performance specification - Focuses on what the product must do, not how it ' s made.
* C. Outcome specification - Refers to the results of a service or project, not technical product design.
* D. Product specification - A broader term. Could be conformance or performance; lacks the precision required here.
Correct answer: A
CIPS Study Guide Reference:
* Module: L4M2 - Defining Business Needs
* Chapter 1: Specification Development
* Section: Conformance-Based Specifications
NEW QUESTION # 255
Which of the following are the focuses of ISO 14001:2015?
Answer: A
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 # 256
Which of the following are primary sources of market data for costs and prices? Select TWO that apply.
Answer: A,E
NEW QUESTION # 257
Builder Inc is a rapidly expanding business in construction sector. Due to an increase in projects, it cannot manage the flow of materials by Excel spreadsheets but by more dedicated software. Who would be a key internal stakeholder in defining software compatibility with company's current system?
Answer: D
Explanation:
Internal stakeholders may contribute to defining needs and drafting the specification by using their technical expertise. In this scenario, IT team may consult procurement team on the technical specification of the software, including compatibility with company's current IT system.
NEW QUESTION # 258
Which of the following are advantages of zero-based financial budgeting?
* Use of previous year figures
* Emphasis on short-term planning
* Budget treated as flexible
* Focus on operational issues
Answer: D
Explanation:
Detailed Explanation:Zero-based budgeting emphasizes starting from scratch and justifying all expenses.
* 3 (Budget flexibility): Ensures resources are allocated dynamically based on needs.
* 4 (Focus on operational issues): Encourages alignment with operational priorities rather than historical trends.Using prior figures (1) is contrary to zero-based budgeting principles. Reference: CIPS Level 4, Financial Planning and Budgeting.
NEW QUESTION # 259
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