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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Procurement and Supply in Practice |
| Exam Number: | L4M8 |
| Exam Duration: | 180 minutes |
| Real Exam Qty: | 4 scenario-based questions |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply CIPS Level 6 Professional Diploma in Procurement and Supply CIPS Level 5 Advanced Diploma in Procurement and Supply |
| Certificate Validity Period: | Valid for life; certification does not expire |
| Available Languages: | English |
| Exam Price: | £150 / €155 / $190 approx |
| Passing Score: | 50/100 |
| Exam Format: | Essay / short answer style, Constructed Response, Scenario-based questions |
| Recommended Training: | CIPS Business Training CIPS Official Study Materials |
| Exam Registration: | CIPS Official Exam Booking |
| Sample Questions: | CIPS L4M8 Sample Questions |
| Exam Way: | Computer-based exam; available online remote or at approved test centres |
| Pre Condition: | Recommended completion of all prior Level 4 modules (L4M1–L4M7); no strict mandatory requirement |
| Official Syllabus URL: | https://www.cips.org/exam-booking/l4m8-procurement-and-supply-in-practice-core |
>> Certification L4M8 Questions <<
ExamTorrent's web-based CIPS L4M8 practice test also contains mock exams just like the desktop practice exam software with some extra features. As this is a web-based software, this is accessible through any browser like Opera, Safari, Chrome, Firefox and MS Edge with a good internet connection. Procurement and Supply in Practice (L4M8) practice test is also customizable so that you can easily set the timings and change the number of questions according to your ease.
CIPS L4M8 exam, also known as Procurement and Supply in Practice, is a certification offered by the Chartered Institute of Procurement and Supply. L4M8 exam is designed for professionals who want to gain an in-depth understanding of procurement and supply chain management practices. L4M8 Exam covers various topics such as procurement strategy, supplier management, contract management, risk management, and performance measurement.
NEW QUESTION # 14
When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?
Answer:
Explanation:
When evaluating potential suppliers, procurement professionals can carry out bench-marking. Benchmarking is the process of comparing a function, a process performance with another which is best in-class.
Other factors, apart from price that can be considered to find the total cost of acquisi-tion include the product or service quality, lead time, supplier culture, its environmental awareness and sustainability.
NEW QUESTION # 15
KPI should be written to match which area of an organization?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Key performance indicator (KPI) is another method of monitoring how a supplier is delivering on a contract.
When creating KPIs to manage suppliers and their contracts the areas monitored should be related to the organization's overall strategy that is where organization's success will be measured.
NEW QUESTION # 16
Using the case study about Toyata, which type of benchmarking Tada has used when comparing the Toyata with Porsche?
Answer:
Explanation:
See the answer in explanation.
Explanation:
Benchmarking is the process of comparing a function, process or performance with another which is best-in- class. Benchmarking is either internal or external. External benchmarking has three types;
1) Competition benchmarking,
2) Functional
3) Generic
Company Toyota with the Porsche a competition in the same industry and by suggesting that drives will find the cars performances comparable with that of Porsche Cayman sports car, suggest think it is an external competitive benchmark.
* Refer to the question column for response
NEW QUESTION # 17
What is business case?
Answer:
Explanation:
A business case is a document containing the justification and the commercial benefits achievable for a potential project or an identified need, for example, the purchase of a capital equipment, con-struction of an additional warehouse or procuring more innovative software to replace the current on in use.
The essence of the business case is to obtain support and get buy-in from senior management.
In order to gain authority to apply whole life asset management a business case will need to be created and presented. A developed business case will cover the following element.
1) Introduction: Outline of what the business case is all about
2) Objective: Explanation of what the business case desired outcome is.
3) Approach that will be undertaken
4) List of resources required
5) Benefits of achieving the objective
* Refer to the question column for response
NEW QUESTION # 18
In relation to the case study 'Walmart and H & M in spotlight regarding human rights in media ex-plain which human rights are not being granted to the workers.
Answer:
Explanation:
Human rights are the statutory ways in which individual expects to and should be treated. Ethical and responsible sourcing includes the protection of human rights, not violating it.
When young women are being bound into contracts where they work for two to three years, they are not being granted the right to freedom from slavery.
Forcing these women to live in hostels under restrictions that prevent them from moving and are denied the opportunity to improve on their living condition is a violation of their right to life, liberty and personal security, also, their freedom from torture and degrading treatment is being violated.
* Refer to the question column for response
Case Study
A series of news stories reporting events such as the collapse of the Rana Plaza building in 2013 have drawn attention to the poor conditions in garment factories across India and South East Asia. Human rights groups have long be critical of the excessive hours and poor wages workers are forced to endure, as well as the abuse they receive from supervisor. With consumers becoming increasingly aware of these conditions, more pressure is being put on global brands and retailers to ensure their supply chains are fair and ethical.
Certain areas have been notorious for the mistreatment of workers. In India's textile valley', young women are been bound into contracts where they work for two to three years, in exchange for a lump sum of money that they can then put towards a dowry. This is known as the 'Sumangali [a married woman] Thittam' scheme. These women are forced to live in hostels under restrictions that prevent them from moving, and are denied the opportunity to improve their living conditions. Retailers including Walmart and H & M are known to source garments from factories in the 'textile valley'.
Reports by organizations including the Asia Floor Wage Alliance (AFWA), Central Combodia, Global Labor Justice, Sedane Labour Resource Centre (LIPS) Indonesia, and Society for Labour and Development (SLD) India have exposed unethically run factories that supply garments to H & M, Gap and Walmart. However, retailers will continue to benefit from expensive labour until mounting customers pressure causes them to change.
NEW QUESTION # 19
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