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| Section | Objectives |
|---|---|
| Risk, sustainability, and compliance considerations | - Managing procurement and supply risks - Legal and regulatory constraints affecting specifications - Sustainability and ethical sourcing requirements |
| Demand management and value for money | - Whole life costing and total cost of ownership - Demand analysis and forecasting - Balancing cost, quality, and risk |
| Understanding and defining business needs | - Role of procurement in identifying and defining needs - Alignment of procurement with organisational objectives |
| Specification development | - Stakeholder engagement in requirements definition - Types of specifications (input, output, conformance) - Key performance indicators and measurable requirements |
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NEW QUESTION # 226
Daytona Ltd is developing a new product which is more environmental friendly. Though the objectives are set, the project team has no idea on which functions will be customers' favourites. Which of the following will help them decide the 'should-have' functions of the new product?
Answer: C
Explanation:
The Kano model is useful in gaining a thorough understanding of a customer's needs. You can translate and transform the resulting verbatims using the voice of the customer table that, subse-quently, becomes an excellent input as the whatsin a quality function deployment (QFD) House of Quality.
The model involves two dimensions:
Achievement (the horizontal axis), which goes from the supplier didn't do it at all to the supplier did it very well.
Satisfaction (the vertical axis), which goes from total dissatisfaction with the product or service to total satisfaction with the product or service.
Dr. Noriaki Kano isolated and identified three levels of customer expectations: that is, what it takes to positively impact customer satisfaction. The figure below portrays the three levels of need: expected, normal, and exciting.
The Thomas-Kilmann Conflict Mode Instrument (TKI) is a conflict style inventory, which is a tool developed to measure an individual's response to conflict situations.
Genichi Taguchi, a Japanese engineer, proposed several approaches to experimental designs that are sometimes called "Taguchi Methods." These methods utilize two-, three-, and mixed-level fractional factorial designs. Large screening designs seem to be particularly favored by Taguchi adherents.
Six Sigma is a method that provides organizations tools to improve the capability of their business processes. This increase in performance and decrease in process variation helps lead to defect re-duction and improvement in profits, employee morale, and quality of products or services.
Source:
- CIPS study guide page 171-172
- WHAT IS THE KANO MODEL?
LO 3, AC 3.4
NEW QUESTION # 227
Which of the following events would increase the number of suppliers in a particular market?
Answer: B
Explanation:
Detailed Explanation:De-regulation removes barriers to entry, encouraging new suppliers to enter the market. Other factors, like high investment or stringent requirements, limit supplier participation. Reference:
CIPS Level 4, Market Entry and Supply Chain Factors.
NEW QUESTION # 228
A company is evaluating two investment projects: Project A and Project B. Project A has a high initial cost but generates substantial cash flows over time. Project B has a lower initial cost but generates modest cash flows consistently. The company's cost model indicates a payback period of three years for Project A and a payback of four years for Project B. Which of the following statements is correct regarding the cost models and cash flow profiling for these projects?
Answer: B
Explanation:
Detailed Explanation:Project A's shorter payback period means the initial investment is recovered more quickly, which is often preferred in cost models. The higher initial cost is offset by substantial cash flows, making it the more viable option based on ROI. Reference: CIPS Level 4, Investment Appraisal Techniques.
NEW QUESTION # 229
Which of the following events would increase the number of suppliers in a particular market?
Answer: B
Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2 - Market Structure and Barriers to Entry) De-regulation removes government controls and barriers, allowing new competitors to enter, thereby increasing supplier numbers and competition.
The other options raise barriers to entry (more costs or requirements), thus reducing potential entrants.
Relevant L4M2 references:
* "Barriers to market entry and exit"
* "Impact of deregulation on supply market dynamics"
NEW QUESTION # 230
Standards are documents that stipulate or recommend minimum levels of performance and quality levels of goods and services. The government is the only source of any standards that are applied by businesses in nations. Is this correct?
Answer: D
NEW QUESTION # 231
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