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| Section | Objectives |
|---|---|
| Understand how to develop a business case for requirements to be sourced from external suppliers | - Analyse how market factors affect procurement |
| Understand the use of specifications in procurement and supply | |
| Understand market management in procurement and supply | - Contrast direct costs and indirect costs
|
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NEW QUESTION # 192
The procurement team of a global supermarket has created a business case for a corporate social responsibility (CSR) sourcing strategy to meet the corporate objective of sustainability. This would require sourcing only from suppliers who meet ethical standards, a reduction in plastic, and using recycled material where possible. Which of the following business benefits would be mentioned in the business case? Select TWO that apply:
Answer: D,E
Explanation:
Detailed Explanation:
* A (Fulfilment of business objective): Aligning procurement practices with sustainability goals supports the overall corporate strategy.
* D (Improved brand equity): Sustainable practices enhance reputation and consumer trust.Other options, like increased capacity or reduced costs, are secondary or unrelated to CSR initiatives.
Reference: CIPS Level 4, CSR and Sustainability.
NEW QUESTION # 193
Which factor would increase a buyer's bargaining power in a negotiation?
Answer: B
Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2 - Market Power and Negotiation Leverage) Buyer power increases when the buyer has more supply alternatives and can switch easily.
A high number of suppliers fosters competition, giving the buyer stronger leverage.
Options B-D limit choice and increase supplier power.
Relevant L4M2 references:
* "Factors increasing buyer power"
* "Supplier competition and negotiation advantage"
NEW QUESTION # 194
Which of the following factors is most likely to be a barrier to new entrant in agriculture?
Answer: B
Explanation:
Barriers to Entry to Agriculture: If stakeholders are going to address the need for new, conserva-tion-minded farmers, they must understand the barriers these farmers encounter when transitioning into the profession. A review of the literature revealed a number of barriers-most of them structural-to entry to agriculture. While each barrier is distinct, they are all interconnected. Though not an exhaustive list, the following barriers are ones that were most frequently mentioned in the literature:
- Access to Affordable Land
- Startup Capital
- Lack of Agricultural Knowledge and Experience
- Lack of Knowledge about Farm Business Planning
- Discrimination
- Student Loans
- Limited Access to Markets
- Affordable Housing and Affordable Healthcare
Source: Exploring the Barriers to Entry to Agriculture: Challenges Facing Beginning Farmers in North Carolina - Kelley Robbins-Thompson
NEW QUESTION # 195
When drafting a business case. Benjamin believes he has power over a supplier and will consider this when detailing budget information. Is adopting a powerful approach with the supplier a reasonable approach?
Answer: B
NEW QUESTION # 196
Which of the following is an assumption of Kano model?
Answer: C
Explanation:
Kano model of excitement and basic quality (Kano et al, 1984; Berger et al, 1993; Matzler et al, 1996) brings a different perspective for the analysis of improvement opportunities in products and services because it takes in consideration the asymmetrical and non-linear relationship between performance and satisfaction. The Kano model classifies customers requirements in three categories (figure 3):
a) Basic Requirements. The basic requirements fulfill the basic functions of a product. If they are not present or their performance is insufficient, customers will be extremely dissatisfied. On the other hand, if they are present or have sufficient performance, they don't bring satisfaction. Customers see them as prerequisites. For instance, for luxury automobiles, "air bags" are considered basic. A customer won't feel satisfied if the automobile has "air bag", however he/she will not buy it if "air bag" is not present.
b) Performance Requirements. As for these requirements, satisfaction is proportional to the performance level - the higher the performance, the higher the customer's satisfaction will be and vice-versa. Gas consumption in automobiles is an example of these requirements. Usually customers explicitly demand performance requirements.
c) Excitement Requirements. These requirements are key to customer satisfaction. If they are pre-sent or have sufficient performance, they will bring superior satisfaction. On the other hand, if they are not present or their performance is insufficient, customers will not get dissatisfied. For instance, a surprise gift at the end of a dinner in a restaurant will certainly bring satisfaction, but it will not cause dissatisfaction if not offered. These requirements are not demanded nor expected by customers.
Two other types of requirements may be identified in the Kano model: neutral and reverse ones. Neutral requirements do not bring either satisfaction or dissatisfaction. Reverse requirements bring more satisfaction if absent than if present.
Reference:
- Integrating Kano model and QFD for Designing New Products
- CIPS study guide page 171-172
NEW QUESTION # 197
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