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| Section | Objectives |
|---|---|
| Topic 1: Understand the key processes that can be applied to the analysis of potential external suppliers | - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Supplier appraisal and evaluation methods - Financial analysis of suppliers - Risk assessment in supplier selection - Supplier audits and due diligence |
| Topic 2: Understand compliance issues when sourcing from suppliers | - Regulatory and legal compliance - Modern slavery and human rights in supply chains - Ethical sourcing and corporate social responsibility (CSR) - Anti-bribery and anti-corruption measures - Codes of conduct and ethical standards - Sustainability and environmental considerations - Global sourcing considerations and Incoterms |
| Topic 3: Understand options for sourcing of requirements from suppliers | - Sourcing strategies and approaches - Single, dual and multiple sourcing - Factors influencing sourcing decisions - Insourcing vs outsourcing decisions |
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NEW QUESTION # 200
Economic indices track a market's stability and health. One of these indices is the Consumer Price Index (CPI). Which of the following are aspects of the Consumer Price Index? Select TWO that apply.
Answer: B,E
Explanation:
The Consumer Price Index (CPI) measures the average change over time in the prices paid by consumers for a market basket of goods and services. It reflects price variations in specific geographical locations and tracks the weighted average prices of selected commodities, providing insights into inflation and cost of living.
Exact Extract from Study Guide:
"The Consumer Price Index (CPI) tracks variations in prices for a range of consumer goods and services over time, in a particular geographic location."
NEW QUESTION # 201
In order to assess whether a company is able to meet its current liabilities, which financial ratio should you use?
Answer: D
Explanation:
"Meet current liabilities" is a posh way of saying "can you pay your bills". You're therefore looking for a liquidity ratio- a ratio that looks at assets vs liabilities (i.e. money in the bank vs money owed out). The Acid Test is a liquidity ratio. It's sometimes called the 'quick ratio'. Both terms come up on the exam. The other options are financial ratios but aren't for liquidity.
NEW QUESTION # 202
When conducting an ABC analysis- what category of items and type of suppliers would you typically find in the A category?
Answer: C
Explanation:
A Category spend is high value and strategic suppliers. C category is low value, high volume of spend aka tail spend. The bits in the middle are B category.
For example when you have a baby you have to buy lots of stuff for it. Your A spend is the big, important and expensive purchases like the pram, cot, carseat. You spend a lot of time in this category because they're important purchases you want to get right. The Tail Spend / C are all the little bits like nappies, baby shampoo, sippy cups. The B category are the bits in between - the purchases are kinda important but aren't as strategic or important as A category. Toys may fall into this category.
NEW QUESTION # 203
A buyer might opt to do an 'Invitation to Tender' (ITT) rather than a 'Request for Quotation' (RFQ) process because ...
Answer: A
Explanation:
An Invitation to Tender (ITT) is used when requirements are complex, high-value, or strategic, requiring detailed supplier submissions, robust evaluation, and structured governance. RFQs are better for low-value, straightforward purchases where price is the main factor. ITTs ensure fairness, transparency, and comprehensive evaluation when the stakes are high. It is not chosen simply because of oligopolies or time pressure. Responsible sourcing requires matching the sourcing process to the complexity and risk of the procurement, ensuring appropriate competition and governance.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implementation" - sourcing procedures and their application.
NEW QUESTION # 204
Which of the following are reasons to outsource part of a business to an external supplier? Select TWO.
Answer: A,D
Explanation:
Reasons to outsource include; 'overheads can be kept as effective as possible' and 'the reduction in the need to continually invest in new machinery'.
When you outsource, you transfer the costs of overheads to the supplier and it is their responsibility to buy new machinery as and when is required. For example if you outsource cleaning, the cleaning company is responsible for replacing the hoovers and floor cleaner The other two options would be reasons to keep something 'in-house'.
NEW QUESTION # 205
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