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| Section | Objectives |
|---|---|
| Understand how to develop a business case for requirements to be sourced from external suppliers | - Analyse how market factors affect procurement |
| Understand market management in procurement and supply | - Compare the competitive forces that influence markets
|
| Understand the use of specifications in procurement and supply |
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NEW QUESTION # 285
A buyer can use sources of information to review indirect costs associated with the manufacture of goods to support supplier negotiations. Is this statement true?
Answer: B
Explanation:
Detailed Explanation:Analyzing both direct and indirect costs helps buyers understand cost structures and negotiate effectively. Indirect costs, like overheads, can be identified through supplier data and market benchmarks, aiding in cost transparency. Reference: CIPS Level 4, Cost Management and Negotiation.
NEW QUESTION # 286
Which of the following are typical environmental considerations throughout the contract life cycle? Select the TWO that apply.
Answer: B,D
Explanation:
All procurement has some level of impact on the environment that needs to be minimised to ensure sustainable procurement practices.
The greatest opportunity to influence environmental outcomes is by selecting products and services with the least ongoing environmental impacts, such as use of water, electricity and fuel, waste/disposal management, and impact on human health over the life of the product or service.
Lifecycle stages that impact on the environment:
Diagram Description automatically generated
Most goods and services will have an element of environment impact in a number of areas. The five main impact areas are listed in the following table.
Graphical user interface, text, application, email Description automatically generated
Source: Buying for Victoria
Reference: CIPS study guide page 137-139
LO 3, AC 3.2
NEW QUESTION # 287
Is ISO 14000 a series of environmental standards?
Answer: B
Explanation:
Comprehensive and Detailed Explanation (paraphrased from CIPS L4M2 content) CIPS L4M2 describes key international standards that can be used in specifications.
* ISO 14000 series - focuses on environmental management systems. It includes frameworks and guidance to help organisations reduce negative environmental impacts, comply with regulations, and continually improve environmental performance. Typical concepts include:
* Environmental policy and planning
* Environmental performance monitoring
* Life cycle thinking / analysis
By contrast:
* ISO 9000 series - quality management and continuous improvement.
* ISO 27000 series - information security.
* ISO 31000 - risk management.
So:
* Option B is correct: ISO 14000 is about environmental standards and explicitly includes life cycle analysis / life cycle considerations.
* The other options incorrectly associate ISO 14000 with quality, information security, or risk management.
Specifications in procurement can reference ISO 14000 requirements to embed environmental sustainability criteria into supplier requirements.
Relevant CIPS L4M2 areas:
* Use of standards (ISO 9000, ISO 14000 etc.) in specifications
* Environmental management and sustainability requirements
* Life cycle and environmental performance in defining business needs
NEW QUESTION # 288
One of the disadvantages of using standards in specification is that...
Answer: A
Explanation:
Using standards in specification is very convenient. They reduce the time and effort to produce. They tend to be very accurate with correct technical terminologies. They are well recognised and accepted by a wide range of suppliers and buyers. However, since a standard is very specific, complex and lengthy, it requires a lot of time to be drafted and approved. Therefore, standard tends to be static and don't encourage innovation. It may also not accommodate latest technology and trends.
NEW QUESTION # 289
Which of the following factors is most likely to be a barrier to new entrant in agriculture?
Answer: B
Explanation:
Barriers to Entry to Agriculture: If stakeholders are going to address the need for new, conserva-tion-minded farmers, they must understand the barriers these farmers encounter when transitioning into the profession. A review of the literature revealed a number of barriers-most of them structural-to entry to agriculture. While each barrier is distinct, they are all interconnected. Though not an exhaustive list, the following barriers are ones that were most frequently mentioned in the literature:
- Access to Affordable Land
- Startup Capital
- Lack of Agricultural Knowledge and Experience
- Lack of Knowledge about Farm Business Planning
- Discrimination
- Student Loans
- Limited Access to Markets
- Affordable Housing and Affordable Healthcare
Source: Exploring the Barriers to Entry to Agriculture: Challenges Facing Beginning Farmers in North Carolina - Kelley Robbins-Thompson
NEW QUESTION # 290
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