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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 |
| Exam Format: | Essay / short answer style, Constructed Response, Scenario-based questions |
| Exam Price: | ยฃ150 / โฌ155 / $190 approx |
| Related Certifications: | CIPS Level 5 Advanced Diploma in Procurement and Supply CIPS Level 6 Professional Diploma in Procurement and Supply CIPS Level 4 Diploma in Procurement and Supply |
| Available Languages: | English |
| Certificate Validity Period: | Valid for life; certification does not expire |
| Passing Score: | 50/100 |
| Recommended Training: | CIPS Official Study Materials CIPS Business Training |
| 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 (L4M1โL4M7); no strict mandatory requirement |
| Official Syllabus URL: | https://www.cips.org/exam-booking/l4m8-procurement-and-supply-in-practice-core |
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CIPS L4M8 exam is internationally recognized and is ideally suited for procurement and supply chain professionals who are looking to advance their careers. L4M8 exam is a requisite for individuals who wish to pursue higher-level courses in procurement and supply chain management, such as the CIPS L5M5: Managing Ethical Procurement and Supply course.
CIPS L4M8 exam is an essential qualification for individuals seeking to work in procurement and supply chain management. L4M8 course provides a comprehensive understanding of the procurement process, including sourcing, negotiation, contract management, and supplier relationship management. L4M8 exam is designed to test the knowledge and skills acquired during the course and assess the candidate's ability to apply these concepts to real-world situations.
NEW QUESTION # 143
What topics are covered within ethics?
Answer:
Explanation:
Topics that are covered within ethics are;
1. Environmental factors
2. The triple bottom line: profit, people and planet
3. Adopting sustainable practice.
4. considering the social impact of organization's behaviors
NEW QUESTION # 144
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 # 145
Describe three ways that hidden cost could present themselves within the logistics operation
Answer:
Explanation:
Hidden costs are costs that do not always present themselves at the onset of the project.
Logistics can provide a hidden cost within global sourcing. The movement of goods can generate risk within a localized supply chain, but the risk is greater within global sourcing. Within global sourcing there are usually many more aspects to the logistics operation, hidden cost associated with the logistics process includes,;1) delays that can be experienced after placing orders, 2) unclear and poor/incorrect communication that might affect the successes of the transaction, also 3) goods could be confiscated by customs for unseen reasons.
NEW QUESTION # 146
Describe three benefits of working cross-functionally
Answer:
Explanation:
Working cross-functionally is the involvement of all departments involved in an organization to contribute knowledge, skills and innovation towards adding value of achieving the organization's strategic goal. All functions may include; procurement, maintenance, marketing, finance, human resources working together in procurement activity to come up with the best strategy or selecting the supplier that best suit the organization.
When working cross functionally, members of the organization gives support by believing in the end goal, assist during difficult time, help troubleshoot any issue, providing the required resources and sharing information.
* Refer to the question column for response
NEW QUESTION # 147
The supplier is responsible for delivering the goods to a named port or destination (such as an air-port or warehouse), as well as unloading them from the terminal from this point, risk passes to the buyer.
Answer: C
NEW QUESTION # 148
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