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| Section | Objectives |
|---|---|
| Understand options for sourcing of requirements from suppliers | - Sourcing strategies and approaches - Insourcing vs outsourcing decisions - Factors influencing sourcing decisions - Single, dual and multiple sourcing |
| Understand compliance issues when sourcing from suppliers | - Ethical sourcing and corporate social responsibility (CSR) - Regulatory and legal compliance - Global sourcing considerations and Incoterms - Sustainability and environmental considerations - Modern slavery and human rights in supply chains - Codes of conduct and ethical standards - Anti-bribery and anti-corruption measures |
| Understand the key processes that can be applied to the analysis of potential external suppliers | - Supplier appraisal and evaluation methods - Supplier audits and due diligence - Risk assessment in supplier selection - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Financial analysis of suppliers |
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NEW QUESTION # 214
In which type of market would you be most likely to find a 'perfect competition'?
Answer: C
Explanation:
An oligopoly. Perfect competition is a situation in a marketplace where there is plenty of competition. A monopoly or monopolistic competition would have 'imperfect competition'
NEW QUESTION # 215
The procurement manager has received the following data from the supplier's accounts to facilitate the calculation of the supplier's current ratio:
Current Assets: Stock $200; Debtors $60; Cash $40; Total $300
Short Term Liabilities: Bank overdraft $150
Which calculation will the procurement manager use to find out the current ratio?
Answer: A
Explanation:
The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by dividing current assets by current liabilities. In this case:
Current Assets = $300
Current Liabilities = $150
Current Ratio = 300 ÷ 150 = 2.0
This indicates that the supplier has twice as many current assets as current liabilities, suggesting good short- term financial health.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 2.3: Financial Appraisal of Suppliers
NEW QUESTION # 216
Procurement professionals should never appoint any suppliers that have a low credit rating. Is this statement TRUE?
Answer: A
Explanation:
A credit rating is one of many tools used to assess a supplier's financial health. Responsible sourcing requires a comprehensive assessment of suppliers, considering multiple factors, to ensure a balanced and ethical approach to supplier selection.
NEW QUESTION # 217
You have been asked to set some key performance indicators (KPIs) for your local stationery provider and you decide to set the following requirements:
To deliver all orders within a one-hour period
To collect any returns within one hour
Are these KPIs appropriate?
Answer: D
Explanation:
KPIs must be realistic, measurable, and achievable to drive performance improvement without creating unfair or unworkable expectations. Requiring delivery and returns within one hour is unlikely to be practical, even for a local supplier, and could increase costs, operational strain, or service failure. Ethical and responsible sourcing promotes setting proportionate KPIs that support continuous improvement and sustainable supplier relationships. Unrealistic KPIs undermine collaboration, damage trust, and may result in non-compliance rather than improved performance.
Reference: CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - performance management; KPIs and supplier relationship management.
NEW QUESTION # 218
Ramesh is a procurement manager who is looking at his supplier base. He is pursuing a sourcing strategy with the aim of enabling logistical cost reductions. He has made the decision to scale-down his supplier base and purchase from one supplier.
Which type of sourcing arrangement has Ramesh began?
Answer: D
NEW QUESTION # 219
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