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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Supplier Relationship Management | 20-25% | - Partnership and collaboration models - Supplier development and improvement - Supplier relationship types - Risk management in supplier relationships - Supplier performance measurement (KPI, scorecards) |
| Topic 2: Strategic Sourcing and Category Management | 20-25% | - Spend analysis techniques - Supplier segmentation and criticality analysis - Category segmentation - Strategic sourcing process |
| Topic 3: Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Environmental sustainability in procurement - Modern slavery and fair trade - Ethical sourcing considerations - Supply chain transparency |
| Topic 4: Practical Application Scenarios | 15-20% | - Applying theory to real-world procurement situations - Case study analysis - Problem-solving and decision-making - Recommendation and justification skills |
| Topic 5: Procurement Process and Procedures | 25-30% | - Procurement cycle stages - Requirements gathering and specification - Purchase ordering and goods receipt - Supplier selection methods - Contract award criteria |
Because the Procurement and Supply in Practice (L4M8) practice exams create an environment similar to the real test for its customer so they can feel themselves in the Procurement and Supply in Practice (L4M8) real test center. This specification helps them to remove Procurement and Supply in Practice (L4M8) exam fear and attempt the final test confidently.
NEW QUESTION # 186
Which type of power is most likely to be used in corruption?
Answer:
Explanation:
The abuse of power within the supply chain can be linked to corruption. If individuals with seniority favor one supplier over another, they can exercise their power to award the contract to whoever they wish.
According to CIPS code of conduct, this is not acceptable.
According to French and Raven, there are five types of power (Legitimate power, Reward, Expert, Referent and Coercive), and these powers can most likely be used in corruption.
NEW QUESTION # 187
Create two KPIs and two SLAs for a contract with which you are familiar.
Answer:
Explanation:
See the answer in explanation.
Explanation:
Key performance Indicators (KPIs) and service level Agreement (SLA) are measures that demon-strate the effectiveness of a supplier. By using KPIs and SLAs as part of suppliers management, procurement professionals can monitor and evaluate performance and identify areas that need attention or improvement.
KPIs and SLAs are used for product and service contract respectively.
Two KPI
1) Number of defects: Not more than two defects is allowed on the generator and its accessories
2) Supplier Lead Time: Delivery after placing order should not be anytime longer than 14 days.
Two SLAs
1) The toilet should be washed with soap, and deodorant should be sprayed twice a day
2) Bathroom and toilet should not be allowed to smell out to the passage. Bathroom smelling out to the passage twice a month is a violation of the contract.
* Refer to the question column for response
NEW QUESTION # 188
Describe two ways in which an organization with which you are familiar could use continuous im-provement as part of whole life asset management.
Answer:
Explanation:
Continuous improvement relates to removing waste from the supply chain and improving processes to increase efficiency within whole life asset management in a full power project (a flour producing firm) can benefit from continuous improvement in the following ways;
1) Reduce cost of spears by recondition parts, instead of disposing them out rightly.
2) Can reduce down time by conducting routine maintenance after hours.
3) Can reducing accident by up skilling operators on safety
4) Can reduce waste oil by following owner's manual instead of relying on experience.
5) Create efficiencies by operating a 24/7 shift pattern.
* Refer to the question column for response
NEW QUESTION # 189
Explain the concept of the 3Ps/TBL and how it can be used by an organization.
Answer:
Explanation:
Trying to measure how sustainable an organization was used to be challenging undertaking. How-ever, 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 reinventing its profits in a State- of-the-art recycling machinery for it wasted cardboard.
People: A large privately owned call center 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.
The TBL, although a useful tool, is simply a way of recording how sustainable an organization is. Alone, it does not contribute towards any improvements or generate any actions promoting a more favorable, sustainable outlook. Objectives should be set in relation to what the 3Ps show and then monitored by implementing KPIs or other measuring methods.
* Refer to the question column for response
NEW QUESTION # 190
Research the values and ethical code of practice of an organization with which you are familiar.
Answer:
Explanation:
Fullpower projects is a training firm that trains on project management and procurement. It has the following values and ethical code of practice
1) Accountability
2) selflessness
3) openness
4) integrity
5) objectives
6) Honesty
7) Leadership
NEW QUESTION # 191
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