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| Section | Objectives |
|---|---|
| Risk, sustainability, and compliance considerations | - Legal and regulatory constraints affecting specifications - Managing procurement and supply risks - Sustainability and ethical sourcing requirements |
| Specification development | - Types of specifications (input, output, conformance) - Stakeholder engagement in requirements definition - Key performance indicators and measurable requirements |
| Understanding and defining business needs | - Role of procurement in identifying and defining needs - Alignment of procurement with organisational objectives |
| Demand management and value for money | - Demand analysis and forecasting - Whole life costing and total cost of ownership - Balancing cost, quality, and risk |
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NEW QUESTION # 60
British Steel needs to source a set of instruments that will improve quality of steel. Without these instruments British Steel will loss control of the temperature. The bucket may freeze up, or if it is too hot it leaks out of the casting process, damaging the machine. There is limited supply on the market and quality varies greatly.
Which of the following will be the most appropriate managing approach to procure these items?
Answer: D
Explanation:
The instrument plays a crucial role in steel manufacturing because it presents in the majority of products, in which case lacking this instrument would have significant impact on the organisation ' s output (production lines stop or damaging other machine). Otherwise, the risk of supply is high because there is limitation in supply. Therefore, it is considered as a strategic item in term of Kraljic ' s portfolio matrix. Procurement manager should form partnership with suppliers to maximise the value.
The following graph illustrates Kraljic ' s portfolio matrix:
Reference: CIPS Study guide page 84.
LO 2, AC 2.1
NEW QUESTION # 61
Which of the following are typical environmental considerations throughout the contract life cycle? Select the TWO that apply.
Answer: B,C
Explanation:
All procurement has some level of impact on the environment that needs to be minimised to ensure sustainable procurement practices.
The greatest opportunity to influence environmental outcomes is by selecting products and services with the least ongoing environmental impacts, such as use of water, electricity and fuel, waste/disposal management, and impact on human health over the life of the product or service.
Lifecycle stages that impact on the environment:
Diagram Description automatically generated
Most goods and services will have an element of environment impact in a number of areas. The five main impact areas are listed in the following table.
Graphical user interface, text, application, email Description automatically generated
Source: Buying for Victoria
NEW QUESTION # 62
When preparing through-life specification, which of the following requirements should procure-ment team define besides the physical asset? Select TWO that apply.
Answer: C,D
Explanation:
Through-life Management involves the life-cycle management of the products, services and activities required to deliver a fully integrated capability to the customer, while reducing the cost of ownership for the customer.
Diagram, table Description automatically generated
Source: Andrew Graves
With through-life management, buyer not only cares about the physical asset but also other factors like customer services and maintenance.
Reference: CIPS study guide page 130
LO 3, AC 3.2
NEW QUESTION # 63
The procurement team of a global supermarket has created a business case for a corporate social responsibility (CSR) sourcing strategy to meet the corporate objective of sustainability. This would require sourcing only from suppliers who meet ethical standards, a reduction in plastic, and using recycled material where possible. Which of the following business benefits would be mentioned in the business case? Select TWO that apply:
Answer: C,D
Explanation:
Detailed Explanation:
* A (Fulfilment of business objective): Aligning procurement practices with sustainability goals supports the overall corporate strategy.
* D (Improved brand equity): Sustainable practices enhance reputation and consumer trust.Other options, like increased capacity or reduced costs, are secondary or unrelated to CSR initiatives.
Reference: CIPS Level 4, CSR and Sustainability.
NEW QUESTION # 64
When procuring a machinery, at which stage buyer must check whether it is working to the stand-ards set out in the design specification?
Answer: A
Explanation:
Through-life Management involves the life-cycle management of the products, services and activities required to deliver a fully integrated capability to the customer, while reducing the cost of ownership for the customer.
Diagram, table Description automatically generated
Source: Andrew Graves
The installation stage occurs in In-Service Operations. At this stage, the machinery is shipped and installed on the buyer's premises and check to ensure that it is working to the standards set out in the design specification.
NEW QUESTION # 65
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