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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Understand ethical and responsible sourcing principles and practices | 25% | - Sustainable and responsible sourcing
|
| Topic 2: Understand key processes to analyse potential external suppliers | 25% | - Market analysis and intelligence
|
| Topic 3: Understand compliance issues when sourcing from suppliers | 25% | - Legislative and regulatory requirements
|
| Topic 4: Understand options for sourcing requirements from suppliers | 25% | - Sourcing approaches and strategies
|
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NEW QUESTION # 227
A buyer of bakery products sees wheat shortages due to poor harvests but demand remains high. How does this affect negotiation?
Answer: C
Explanation:
In commodity markets, shortages combined with sustained demand drive price increases. The buyer loses bargaining power, as suppliers can charge higher rates. Negotiating downward is unrealistic; instead, buyers should manage risk through hedging, forward contracts, or alternative sourcing. CIPS notes that responsible sourcing requires understanding market dynamics and their ethical implications (e.g., food security, affordability). The organisation must manage stakeholder expectations about pricing rather than assume negotiation leverage. This reflects the implications of market volatility in global supply chains.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implications" - commodity market dynamics, supply
/demand, and negotiation position.
NEW QUESTION # 228
Which of the following are secondary sources of market and supplier data? (Select TWO)
Answer: B,E
Explanation:
Secondary sources are data sets and publications that already exist and are not collected directly by the buyer.
Examples include published economic indices (A), which provide information on inflation, commodity prices, and market trends, and financial/trade press (D), which offers insights into industries, suppliers, and economic conditions. By contrast, a buyer's internal database and field observation studies are primary data sources, while supplier marketing materials are biased and less reliable. Responsible sourcing requires procurement professionals to use both secondary and primary sources for comprehensive market analysis, but secondary sources are especially useful for benchmarking and environmental scanning.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - sources of supplier and market intelligence.
NEW QUESTION # 229
A supplier operates in a monopolistic market where the threat of entry is low. The product that they offer is key in manufacturing certain types of submarines and there is no known substitute for the product at present.
What type of sourcing relationship is a buyer likely to have with this supplier?
Answer: A
NEW QUESTION # 230
Which of the following information can facilitate international imports and exports?
* Product quality statistics
* Certificate of origin
* Purchase order
* Supplier financial position
Answer: B
Explanation:
International trade relies on proper documentation. A certificate of origin (2) confirms where goods are produced, often required for customs clearance and to determine tariffs. A purchase order (3) provides formal buyer intent and agreement of terms, forming the basis for customs and logistics processes. Product quality statistics (1) and supplier financial position (4) are relevant for supplier selection and monitoring but not directly for import/export processes. Responsible sourcing requires procurement professionals to ensure correct documentation is used to avoid delays, penalties, or breaches of trade regulations.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - documentation in international sourcing.
NEW QUESTION # 231
What is a risk of pre-warning a supplier that you will conduct an audit of their facilities?
Answer: B
NEW QUESTION # 232
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