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CIPS L4M8 Exam Syllabus Topics:

Section	Objectives
Risk, Ethics and Sustainability	- Ethical and sustainable procurement 1. Sustainable sourcing practices 2. Corporate social responsibility - Procurement risk management 1. Risk identification and mitigation 2. Supply chain disruptions
Contracting and Legal Principles	- Contract formation 1. Key elements of contracts 2. Terms and conditions - Contract management 1. Performance measurement 2. Dispute resolution and remedies
Procurement Process and Sourcing	- Sourcing strategies 1. Make or buy decisions 2. Outsourcing and insourcing approaches - Supplier selection and evaluation 1. Supplier appraisal techniques 2. Pre-qualification and tendering
Procurement and Supply Context	- Role of procurement in organisations 1. Stakeholder expectations and value delivery 2. Organisational objectives and procurement contribution - External business environment 1. Economic and regulatory influences 2. Market conditions and supply markets
Supplier Relationships and Performance	- Supplier relationship management 1. Collaboration and partnership models 2. Communication and governance - Performance improvement 1. Continuous improvement approaches 2. KPIs and measurement systems
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 (Q46-Q51):

NEW QUESTION # 46
What are the two options for the disposal of an asset if resale is not possible?

Answer:

Explanation:
Disposal of an asset is the final stage in the decommissioning process of a fixed asset.
When a fixed asset reaches the end of its useful or cost effective life time within an organization, the decision is made as to whether it should be removed from the premises or disposed off.
If the asset is truly at the end of its life, no longer fit for purpose, not cost effective to repair and is not able to be exchanged, then disposal is the only option; there are two options for disposal;
1) Take the asset to land fill site
2) Taking the asset to a recycling plant.
* Refer to the question column for response

NEW QUESTION # 47
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 # 48
What are the 3Ps in the triple bottom line.

Answer:

Explanation:
Trying to measure how sustainable an organization was use to be challenging undertaking. However, during the 1990s, a concept brought up by American John Elkington change the way sustainability was measured. This framework is known as the triple bottom line (TBL) and measures sustainability in relation to organizational performance and investment against the 3Ps (1) Profits (2) People (3) Planet. For example; Profit: A packaging manufacturer reinvesting its profits in State- of-the-art recycling machinery for it wasted cardboard.
People: A large privately owned call centre donate its end of life computers to a local youth clubs and social groups to help gain internet cases.
Planet: A driving instructors using only hybrid vehicles to teach her learners, thus to reducing Co2 emission.

NEW QUESTION # 49
What are the eight elements of whole life asset management?

Answer:

Explanation:
See the answer in explanation.
Explanation:
Whole life asset management is the process of evaluating the total price and all associated costs of a product to make an informed decision as to which option will provide the organization with the best value for money option: To achieve this the organization works at the following eight elements.
1. Identify need/objectives/risk: The first stage of the whole life asset management is the same as the first stage in the CIPS procurement and supply cycle: identify the need prior to any asset being procured; the need could be competition in the marketplace, raised/reduced demands or financial concern. Once this need has been identified, the objectives of the new assets need to be set, and this may include being more energy efficient, reducing cost or saving money.
Risk also needs to be explored. When investing in a new asset there are factors to be considered that may or may not be advantageous to the investment. These include; downtime, lost sale/revenue or associated cost.
2. Procurement: Procurement professional would have to source and arrange supply of the asset.
3. Construction: ones the supply has being arranged, then the designing and the manufacturing of the asset begins.
4. Commissioning
5. Deterioration/maintenance
6. Condition performance monitoring
7. Decommissioning
8. Renewal/replacement

NEW QUESTION # 50
What are the four quadrants within the Kraljic portfolio matrix?

Answer:

Explanation:
At the early stages In procurement and supply cycle, buyers begin segmenting current supplies in the categories, depending on their level of integration into the organization. To help get this done, the buyer may use the Kraljic portfolio matrix. The kraljic portfolio matrix segment suppliers into four categories, which are;
1) Routine 2) Bottleneck 3) Leverage 4)strategic supplier

NEW QUESTION # 51
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