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| Section | Objectives |
|---|---|
| Responsible Sourcing | - Environmental considerations and impacts - Sustainability in supply chains - Social responsibility and human rights |
| Supply Chain Risk and Compliance | - Managing ethical risks in sourcing - Supplier compliance and monitoring |
| Corporate Social Responsibility (CSR) | - Stakeholder expectations and governance - CSR frameworks and standards |
| Ethics in Procurement and Supply | - Principles of professional ethics - Codes of conduct and ethical decision-making |
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NEW QUESTION # 65
A buyer has been tasked with placing an order for steel from another country and using Incoterms for the delivery. The buyer's organisation has an in-house transportation and export clearance department. During negotiations, the buyer achieved a 25% cost reduction by accepting responsibility to arrange loading, transportation, and export clearance. Which Incoterm has been agreed?
Answer: C
Explanation:
Under the EXW (Ex Works) Incoterm, the buyer assumes responsibility for transportation and export clearance from the seller's premises. This term aligns with cost-saving measures and the buyer's internal capabilities for logistics, supporting efficient and responsible sourcing.
NEW QUESTION # 66
Commodities can be traded on a stock exchange and are generally divided into one of four categories. Which of the following is not one of these four categories?
Answer: B
Explanation:
Plastic is not a commodity. A commodity is something that is naturally occurring and plastic is manufactured.
The other category of commodity is agriculture.
NEW QUESTION # 67
A buyer is responsible for the procurement of metals within the raw materials department. The buyer is preparing for next year's purchase orders and has been asked to confirm the month of order placement. The buyer has found three trends:
* In January and April, the supplier's local currency is stronger
* November typically has the lowest demand
* May typically has the highest demand
Which month should the buyer plan to place the purchase order?
Answer: A
Explanation:
Ordering in November, when demand is lowest, may allow the buyer to secure better pricing and availability, aligning with responsible sourcing by optimizing purchase timing to achieve cost savings and reliable supply.
NEW QUESTION # 68
Tariffs and import duties imposed on a buying organisation for goods purchased from an international supplier provide benefit to ...
Answer: B
Explanation:
Tariffs/import duties increase the landed cost of imports, which shields domestic producers by making foreign alternatives relatively more expensive. They do not go to the foreign supplier and typically do not lower consumer prices.
Reference: CIPS L4M4 Study Guide (v2): LO "Implications of global sourcing" - trade barriers (tariffs/non- tariffs) and their market effects.
NEW QUESTION # 69
A procurement manager of a medium-sized company has suggested to their executive board that implementing an ISO environmental standard would improve procurement practices and reduce environmental and social impacts. However, some colleagues are concerned about the potential complexity and supplier resistance. Should the company go ahead with the recommendation?
Answer: A
Explanation:
Adopting ISO environmental standards aligns procurement practices with sustainability goals and helps reduce environmental and social impacts. Although implementing ISO standards may require initial adjustments, they foster long-term benefits by promoting responsible and ethical sourcing practices across the supply chain.
NEW QUESTION # 70
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