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CIPS L4M8 Exam Syllabus Topics:

Section	Weight	Objectives
Sourcing Process & Supplier Management	25%	- Stages of strategic sourcing 1. Creation of contract terms and specifications 2. Supplier evaluation, selection and award 3. Supplier performance monitoring and development 4. Stakeholder engagement and communication
Application of Procurement Cycle	25%	- Key stages of procurement cycle in practice 1. Market analysis and supplier research 2. Defining business needs and requirements 3. Contract formation and management 4. Tendering and selection processes
Ethics, Responsibility & Compliance	25%	- Ethical and responsible sourcing application 1. Sustainability and ESG integration 2. Regulatory compliance and ethical governance 3. Anti-bribery, corruption and human rights protection 4. CIPS Code of Conduct and professional standards
Whole Life Asset & Cost Management	25%	- Total cost of ownership concept 1. Purchase, operation, maintenance and disposal costs 2. Legal, environmental and waste management obligations 3. Cross-functional collaboration and data use 4. Hidden costs and supply chain risks

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CIPS Procurement and Supply in Practice Sample Questions (Q191-Q196):

NEW QUESTION # 191
What is business case?

Answer:

Explanation:
See the answer in explanation.
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 # 192
Explain the concept of the 3Ps/TBL and how it can be used by an organization.

Answer:

Explanation:
See the answer in explanation.
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.

NEW QUESTION # 193
What is CSR policy?

Answer:

Explanation:
See the answer in explanation.
Explanation:
Corporate Social responsibility (CSR) policies state how organizations aim to contribute towards the community and how an organization portrays itself towards social impacts.

NEW QUESTION # 194
What are the four quadrants in the Mendelow stakeholder matrix?

Answer:

Explanation:
Stakeholder are individuals or organizations that can be affected directly or indirectly by any project or decision. For successful procurement activities to take place, stakeholders must be identified, engaged and managed. Not all stakeholders require the same level of engagement and management. To appropriately manage identified stakeholders, the Mendelow management matrix has categorized stakeholders in four quadrants, according to how low or high their power and interest in the project could be. The four categories are:
1) Minimum effort (low power-Low interest)
2) Keep satisfied (high power-Low interest)
3) Keep informed (Low power - high interest)
4) Manage closely (High power- High interest)
* Refer to the question column for response

NEW QUESTION # 195
Explain how procurement should decide whether to make or buy a product or service.

Answer:

Explanation:
See the answer in explanation.
Explanation:
Make or buy decision are about whether a products or services should be made within the organization or bought-in from an external supplier.
For a procurement professional to establish which method (make or buy) offers the best value, the item in question must be thought through if it is core to the organization and which option will add more value to the organization, as regards achieving its strategic goals. If it is core the procurement professional decide to make it and if it is not core the product or services can be bought in.

NEW QUESTION # 196
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