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| Section | Objectives |
|---|---|
| Topic 1: Ending and Reconfiguring Supplier Relationships | - Supplier base rationalisation - Contract termination processes - Managing relationship dissolution professionally - Exit strategies and transition planning |
| Topic 2: Supplier Segmentation and Categorisation | - Kraljic matrix and portfolio analysis - Strategic, tactical, and transactional suppliers - Supplier classification criteria |
| Topic 3: Developing Supplier Relationships | - Trust and commitment in supplier partnerships - Relationship lifecycle stages - Supplier relationship management (SRM) frameworks - Partnership models and collaboration approaches |
| Topic 4: Supplier Risk and Resilience | - Risk identification and assessment - Supplier vulnerability analysis - Business continuity planning - Risk mitigation strategies |
| Topic 5: Managing Supplier Performance | - Scorecards and supplier audits - Performance measurement tools and techniques - Continuous improvement processes - Key Performance Indicators (KPIs) |
| Topic 6: Supply Chain Context | - Supplier market analysis - Understanding the supply chain environment - Stakeholder relationships in procurement |
>> L4M6 New Practice Questions <<
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NEW QUESTION # 137
Which of the following options are legitimate reasons for terminating a contract? Select TWO that apply.
Answer: A,D
Explanation:
Legitimate reasons for contract termination under CIPS guidelines include failure to perform duties and serious breaches of contract terms. Ordering errors or changes in stakeholder needs are not valid termination grounds unless explicitly stated in the contract. This protects both parties from unjustified termination risks.
NEW QUESTION # 138
Togo Bongos is a manufacturer of percussion instruments, in particular of bongo drums. It requires electricity to run its factories and this is a major factor of cost impact. There are lots of suppliers of electricity in the market and there is no switching costs if Togo Bongos wanted to switch suppliers. What type of supplier is Togo Bongo's electricity supplier?
Answer: A
Explanation:
This is a leverage supplier on the Kraljic Matrix; high cost impact and low risk impact. The diagram on p.20 gives the example of utility services such as electricity as a common leverage supplier. There are lots of questions on Kraljic in the exam - do revise this topic and ensure you understand each of the four quadrants of the matrix
NEW QUESTION # 139
Which of the following statements are true regarding the characteristics of a restricted market? Select TWO that apply.
* The marketplace is heavily regulated by Governments and legislation
* Existing suppliers within the marketplace offer excellent services
* There are many suppliers already in operation within the marketplace
* High financial investment is required to enter the marketplace
Answer: A
Explanation:
Comprehensive and Detailed Explanation:
A restricted market is characterized by high barriers to entry, often due to stringent government regulations and the need for substantial financial investment. These factors limit the number of new entrants, resulting in a market dominated by a few established suppliers. While existing suppliers may offer excellent services, the key defining features of a restricted market are the regulatory constraints and the significant capital required to compete.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 140
Rachel and Jacky work in the procurement department of Foddy Foods Ltd. They have been told by their CEO to build better relationships with strategic suppliers as this will create value for money for the company.
In what ways can value for money be achieved by building strong relationships with suppliers? Select TWO.
Answer: B,C
Explanation:
Supplier relationships can result in value for money in the reduction of waste and in innovation developed as part of collaborative projects. Remember that in CIPS waste doesn't necessarily mean physical waste (as in stuff you don't want any more). There are 7 types of waste including waiting, inventory, transportation etc. So when you develop a relationship with a supplier, this can reduce waste (e.g. you may be able to get deliveries quicker by integrating your ordering system with the supplier's, or you might reduce transportation by agreeing a Consignment stock). Having a good relationship with a supplier isn't necessarily going to get you a reduction in cost or better payment terms. See p.70 for more details on this- there's a short list of ways in which good supplier relationships can bring value for money to a business.
NEW QUESTION # 141
Which of the following are possible drivers for partnership sourcing? Select THREE.
Answer: A,C,D
Explanation:
To increase production costs and lead-times
Explanation:
The correct answers are; The marketplace has become more volatile, Working together will create synergies and The need to improve performance to satisfy the end customer. Further Drivers of Partnership Sourcing can be found on p.127. The other answers are incorrect as entering a partnership won't protect intellectual property rights- in fact that's one of the big risks of entering into a partnership. Partnerships won't increase costs and lead-times, they're likely to decrease them.
NEW QUESTION # 142
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