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| Section | Objectives |
|---|---|
| Topic 1: Ethics in Procurement and Supply | - Codes of conduct and ethical decision-making - Principles of professional ethics |
| Topic 2: Supply Chain Risk and Compliance | - Managing ethical risks in sourcing - Supplier compliance and monitoring |
| Topic 3: Corporate Social Responsibility (CSR) | - Stakeholder expectations and governance - CSR frameworks and standards |
| Topic 4: Responsible Sourcing | - Environmental considerations and impacts - Social responsibility and human rights - Sustainability in supply chains |
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NEW QUESTION # 55
Henry is importing cheese from South East Asia into the UK. He is doing some research on the costs and risks of this and has discovered that the product may be considered of 'non-preferential origin'. What implications would this mean for Henry?
Answer: D
Explanation:
Items of 'Non-Preferential Origin' are subject to tariff quotas and other customs commercial regulations.
'Preferential Origin' goods have no duties or tariffs.
The good news is CIPS have significantly simplified section 3.2 of the syllabus. The new study-guide is much lighter on names of documents and protocols for importing and quotas etc. The focus of this Learning Outcome has shifted more to Inco Terms so I would focus on that for revision, but do make sure you have a basic understanding of documents, law and jurisdiction.
NEW QUESTION # 56
Intra-company trading allows business units within a large enterprise to supply goods or services to another.
What are the likely objectives of intra-company trading?
* Enhances production capacity utilisation
* Offsets some of the fixed costs of the supplying entity
* Compensates the supplying unit for the less effective technology applied
* Ensures internal technology always out-performs that of external suppliers
Answer: B
Explanation:
Intra-company trading aims to optimize internal resources by enhancing production capacity utilization and offsetting fixed costs. By supplying goods or services internally, organizations can achieve economies of scale and better allocate resources. However, compensating for less effective technology or ensuring superior internal technology over external suppliers are not primary objectives of intra-company trading.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 1.1.2: Make or buy decisions and the role of intra-company trading
NEW QUESTION # 57
According to the CIPS code of conduct, which laws should a procurement professional adhere to?
Answer: C
Explanation:
The CIPS Code of Conduct says to adhere to all laws of countries in which I practice. So if you're in the UK and procure stuff from China, you need to abide by both UK and Chinese laws, not just UK laws.
There's no international procurement laws- these are all different for different countries.
ILO doesn't publish laws.
NEW QUESTION # 58
Jack Green is using an open tender to source a new component for a product. What must be considered if using an open tender?
Answer: A
Explanation:
An open tender is advertised publicly and open to all interested suppliers. For it to be effective, there must be a sufficient supplier market (A) to justify competition. If supplier numbers are too low, restricted or negotiated procedures may be more appropriate. Pre-qualification applies to restricted tenders, not open ones.
Price-only evaluation breaches responsible sourcing principles, which require balanced criteria. Responsible sourcing highlights that open tendering ensures transparency and fairness but must be used appropriately depending on market conditions.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implementation" - tendering methods and considerations.
NEW QUESTION # 59
A buyer of bakery and cereal products is tracking wheat prices. Severe weather causes crop failure in a major wheat-producing country, creating global shortage while demand remains high. How can this research help the buyer?
Answer: A
Explanation:
In situations of global commodity shortages, basic supply-and-demand principles mean that prices increase when demand remains constant or high. This reduces the buyer's bargaining power, making it difficult to negotiate lower prices (C). Instead, suppliers are likely to increase costs due to scarcity. Options A and D are incorrect because reduced availability drives prices up, not down. Option B is misleading - prices are affected by shortages. Responsible sourcing requires procurement professionals to anticipate such volatility through market intelligence, consider alternative supply sources, or explore hedging/forward contracts to mitigate risks.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implications" - commodity markets, supply/demand dynamics, negotiation power.
NEW QUESTION # 60
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