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| Section | Weight | Objectives |
|---|---|---|
| Understand key processes to analyse potential external suppliers | 25% | - Market analysis and intelligence
|
| Understand compliance issues when sourcing from suppliers | 25% | - Legislative and regulatory requirements
|
| Understand options for sourcing requirements from suppliers | 25% | - Sourcing approaches and strategies
|
| Understand ethical and responsible sourcing principles and practices | 25% | - Ethical frameworks and concepts
|
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NEW QUESTION # 203
Which of the following is a strategic cost associated with outsourcing cyber-security from an in-house IT function to a specialist supplier?
Answer: D
Explanation:
Outsourcing critical functions like cybersecurity can lead to a loss of in-house expertise, which is a strategic cost. This loss may impact the organization's ability to respond swiftly to security threats, innovate, and maintain control over sensitive operations. Retaining core competencies is vital for sustaining competitive advantage and ensuring long-term resilience.
Exact Extract from Study Guide:
"Outsourcing core activities risks - loss of in-house skill, loss of key staff to competitors, risk that supplier cannot be found, loss of control over operating activities, risk of loss of control over confidential information
/IP.
NEW QUESTION # 204
A 'carnet' provides evidence of the origin of goods shipped in an international trade transaction. Is this statement correct?
Answer: A
Explanation:
A carnet (ATA Carnet) is an international customs document that allows for the temporary, duty-free and tax- free movement of goods across borders, usually for exhibitions, trade fairs, or professional equipment. It is not proof of origin (which is confirmed by a certificate of origin), nor is it an insurance document. It is also not restricted to European exports. By reducing customs paperwork and costs for temporary movements, carnets support trade efficiency but do not replace origin or insurance documents. Responsible sourcing requires procurement professionals to know which trade documents are appropriate for compliance and risk management.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - international trade documentation.
NEW QUESTION # 205
A procurement manager has developed some reports in order to analyse total company expenditure on bought- in goods and services from external suppliers. Expenditure information by product category or supplier can achieve which of the following? Select TWO that apply.
Answer: A,D
Explanation:
Analysing expenditure data by product category or supplier enables procurement managers to:
* Negotiate Better Prices:Identifying high-spend areas or suppliers can provide leverage in negotiations, leading to cost reductions.
* Monitor Cost Trends:Tracking expenditure over time helps in understanding cost fluctuations, budgeting, and forecasting future spend.
Exact Extract from Study Guide:
"Spend analysis is a process that analyses the historical spend data of your organisation to provide answers to questions concerning spend visibility, compliance, and cost-saving opportunities."
NEW QUESTION # 206
A buyer has been working with managers on a tender and is now assessing supplier proposals. Is it good practice for the procurement buyer to make sourcing recommendations?
Answer: C
Explanation:
Good governance in procurement requires collaboration. The buyer provides expertise in sourcing methods, evaluation, and compliance with procurement rules, but decisions should also involve business managers who understand operational needs. Acting independently could cause conflict and undermine accountability.
Conversely, leaving all decisions to managers risks bypassing procurement expertise. The best practice is for procurement to advise and recommend, while engaging stakeholders in final award decisions, ensuring transparency, fairness, and shared accountability. This balances compliance with ethical sourcing requirements and operational business needs.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implementation" - roles and responsibilities in procurement governance.
NEW QUESTION # 207
A supplier of copper cable has notified the buyer that the price of the cable is increasing by 6% due to increases in the cost of copper, a key component of the cable.
Which of the following indices could be utilised to check the validity of the supplier's proposed changes in the price of the cable?
Answer: D
Explanation:
Commodity Price Indices track movements in the prices of raw materials such as metals, oil, and agricultural products. Since copper is a traded commodity, changes in its market price can be independently verified through commodity indices. This allows buyers to validate supplier claims objectively and ensure price increases are justified and transparent. Purchasing Managers' Index measures business confidence, CPI measures consumer inflation, and stock indices reflect equity performance rather than raw material costs.
Ethical and responsible sourcing requires procurement professionals to use reliable market data to challenge unjustified price increases and maintain fairness in supplier negotiations.
Reference:CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - market analysis, price indices, cost drivers.
NEW QUESTION # 208
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