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CIPS L4M8 Exam Syllabus Topics:

Section	Objectives
Topic 1: Contracting and Legal Principles	- Contract formation 1. Key elements of contracts 2. Terms and conditions - Contract management 1. Dispute resolution and remedies 2. Performance measurement
Topic 2: Procurement and Supply Context	- Role of procurement in organisations 1. Organisational objectives and procurement contribution 2. Stakeholder expectations and value delivery - External business environment 1. Market conditions and supply markets 2. Economic and regulatory influences
Topic 3: Supplier Relationships and Performance	- Performance improvement 1. Continuous improvement approaches 2. KPIs and measurement systems - Supplier relationship management 1. Communication and governance 2. Collaboration and partnership models
Topic 4: Procurement Process and Sourcing	- Sourcing strategies 1. Make or buy decisions 2. Outsourcing and insourcing approaches - Supplier selection and evaluation 1. Pre-qualification and tendering 2. Supplier appraisal techniques
Topic 5: Risk, Ethics and Sustainability	- Procurement risk management 1. Supply chain disruptions 2. Risk identification and mitigation - Ethical and sustainable procurement 1. Sustainable sourcing practices 2. Corporate social responsibility
Topic 6: Procurement Technology and Innovation	- Digital procurement tools 1. E-procurement systems 2. Data analytics in procurement - Innovation in supply management 1. Process optimisation 2. Automation and AI applications

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CIPS Procurement and Supply in Practice Sample Questions (Q48-Q53):

NEW QUESTION # 48
What are the five stages in Tuckman's team Development model?

Answer:

Explanation:
Tuckman's team development model depicts from where a team is formed to the various stages they might experience before the end where the objective is achieved and these includes.
1) Forming: here they are just being put together
2) Storming: conflict and competition begin to arise
3) Norming: here agreement and consensus is reached as roles and responsibility is clear.
4) Perform: They start carrying out the roles and responsibility
5) Adjourning: Task is complete and they are discharged
* Refer to the question column for response

NEW QUESTION # 49
Create a list of tangible, intangible, direct and indirect needs within an organization with which you are familiar.

Answer:

Explanation:
Tangible costs are the cost an organization incur acquiring items that can be physically touched and or seen. Examples includes; 1) Capital Purchase 2) Raw materials 3) Sundry items 4) Vehi-cles/transport 5) Utilities Intangible costs are the cost an organization incurs acquiring something that cannot be physically seen or touched. Examples include; 1) Insurance 2) Marketing 3) Research and development 4) Salaries and/pension 5) Services 6) Training.
Direct costs - These are costs that an organization incurs acquiring product and services directly attributable/traceable to its production, for example, the cost of labour and materials directly uses to produce the goods/services which the organization sells. In the case of buying and running a Lorry for transport fleet, this would be 1) total cost of acquiring the lorry,) Tooling 3) Operation.
Indirect cost - These are costs that are not directly associated to production, for example, materials and services not used in production, labour/ staff cost not directly attributed to production, such as management, sales and marking, ICT support, rents. In the case of buying and running a Lorry for transport fleet. Examples are; 1) Insurance 2) Disposal.

NEW QUESTION # 50
Which four procurement cycle stages happen after the award of the contract?

Answer:

Explanation:
The procurement cycle is the heart of purchasing, sourcing and supplying and should be followed in day-to-day practice in the industry. The procurement cycle has thirteen stages. Contract award is stage 9, and the stages after the contract award are; Stage 10: ware house, logistic and receipt Stage 11: Contract performance review and continuous improvement Stage 12: SRM/SCM and contract management Stage 13: Asset management, lessons learned, end of life.

NEW QUESTION # 51
Why is it important to keep ethical codes of practice up to date?

Answer:

Explanation:
A code of ethics is a set of morals and principle set out by an organization to state what it deems to be acceptable conduct and behavior An ethical code of practice is a continually changing and developing document with society changing and different suppliers coming to market, the document has to remain current Suppliers should continually monitor their codes of ethics to ensure that;
1. They are looking after the interest of the supply chain
2. That potential customers can be reassured that they are conforming to the required regulation, e.g. ISO
14001.
Ethical code of conduct should be constantly monitored and updated in accordance with the changes organization faces. This include 1) Define (2) prevent (3) detect (4) reprove (5) evaluate.

NEW QUESTION # 52
What do STEEPLE and SWOT stand for?

Answer:

Explanation:
See the answer in explanation.
Explanation:
RESPONSE
After a need in an organization has been identified/understood, defined, justified and authorized, the next stages are to understand how commodity prices are reacting, which suppliers are available and their strength.
The make or buy decision can be reached with knowledge from this; the procurement professional can consider the organization external environment, strength, weakness opportunity and threat to develop strategy
/plan of how to achieve the procurement.
'STEEPLE' is an effective way to evaluate the external environment. It helps buyers to assess factors that could affect the need in hand and helps them to develop the plan accordingly. 'STEEPLE' is an acronym which stands for, Social, Technology, Economic, Environment, Political, Legal, Ethical
'SWOT' helps the organization to analyze its strength and within the organization and the oppor-tunity and threats outside the organization.
'SWOT' is an acronym which stands for, strength, weakness, opportunity and threats.
* Refer to the question column

NEW QUESTION # 53
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