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| Section | Objectives |
|---|---|
| Risk, sustainability, and compliance considerations | - Sustainability and ethical sourcing requirements - Managing procurement and supply risks - Legal and regulatory constraints affecting specifications |
| Specification development | - Stakeholder engagement in requirements definition - Key performance indicators and measurable requirements - Types of specifications (input, output, conformance) |
| Understanding and defining business needs | - Role of procurement in identifying and defining needs - Alignment of procurement with organisational objectives |
| Demand management and value for money | - Whole life costing and total cost of ownership - Demand analysis and forecasting - Balancing cost, quality, and risk |
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NEW QUESTION # 210
Which of the following might be consequences of over-specification? Select TWO that apply:
Answer: A,D
Explanation:
Over-specification can cause problems to buying organisation, include the following:
- Higher expense due to unnecessary features embedded into the product
- Stifle competition because higher requirements will lead to fewer suppliers in the market are able to supply
- Harder to evaluate the trade-offs between different features and attributes in the specification
NEW QUESTION # 211
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: D
Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2 - Cost Management and Analysis) CIPS teaches that indirect costs (e.g. overheads, admin, factory costs) can be estimated by using:
* Supplier financial statements,
* Benchmarking,
* Industry cost models.
Analysing these supports negotiations by revealing true cost drivers.
Therefore, Option B is correct - buyers can and should assess indirect costs when evaluating total cost and negotiating.
Relevant L4M2 references:
* "Understanding direct and indirect cost elements"
* "Cost analysis and should-cost models in business case preparation"
NEW QUESTION # 212
Which of the following problems may be identified as closed problems? Select TWO that apply:
Answer: B,C
Explanation:
Closed problem is something happens that should not have happened. To solve this type of prob-lem, procurement professional should find a way to correct the situation or try to adapt to it. On the other hand, open ended problem is a obstacle to your short-term objective. You will need to overcome this obstacle.
Shortage of key medicines is a situation in which procurement must find a substitution or try to save the current stock.
In case of cyber attack, procurement should find a way to recover the IT system as soon as possible.
Otherwise, 'There are not enough data for procurement analytics' is an open-ended problem be-cause it prevents company to conduct procurement analytics (an objective).
'Logistics costs incur a large portion in wholesale prices': In this situation, logistics costs are hur-dles that prevent companies to reach lower wholesale.
'The suppliers don't comply with the company's policy on underage labour': In this situation, pro-curement should seek ways to help supplier comply with the company's labour policy.
LO 1, AC 1.1
NEW QUESTION # 213
Warwickshire Ambulance Service (WAS) is an NHS Trust. It operates throughout Warwickshire and the neighbouring areas. It has three core areas of activity, namely the provision of Emergency Ambulance Services, routine Patient Transport Services, and Logistic Medical Services. The agency is working towards higher service level through benchmarking. Which of the following is the benefit of benchmarking to WAS?
Answer: B
Explanation:
Benchmarking is 'the pursuit by organisations of enhanced performance by learning from the suc-cessful practices of others. Benchmarking is a continuous activity; key internal processes are adjusted, performance is monitored, new comparisons are made with the current best performers and further changes are explored.
Where information about these key processes is obtained through a co-operative partnership with specific organisations (rather than via a third party such as an independently-maintained database), there is an expectation of mutual benefit over a period of time.
Text Description automatically generated
Graphical user interface, text, application, email Description automatically generated
NEW QUESTION # 214
A buying organisation may not have technical capability to produce a highly complex specification. Which of the following are sources of information that can be used to create the specification? Select TWO that apply
Answer: C,D
Explanation:
If an organisation doesn't have capability to produce a technical specification, they can draft one based on standards or consulting the suppliers.
Reference:
LO 3, AC 3.1
NEW QUESTION # 215
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