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NEW QUESTION # 212
A procurement manager has a new contract to award. They know there will be considerable interest from potential suppliers, as there are approximately twelve companies in the market. Which of the following is a benefit of using a full competitive tendering process for this new contract?
Answer: D
Explanation:
A full competitive tendering process ensures fairness by treating all suppliers equally, allowing them to compete on a level playing field. This aligns with ethical sourcing principles, especially in the public sector, where transparency and equal opportunity are paramount.
NEW QUESTION # 213
Supplier selection focuses on which of the following?
* Supplier suitability and capability of meeting requirements
* Which pre-qualified supplier represents the best outcome
* Financial stability and quality culture of the supplier
* Most time-efficient tender from a supplier
Answer: D
Explanation:
Supplier selection is about ensuring that suppliers are capable and suitable to meet the buyer's requirements, including quality, reliability, and alignment with ethical standards. It also focuses on identifying, from a pool of pre-qualified suppliers, which supplier offers the best overall outcome. Financial stability and culture are considered earlier in pre-qualification, not during final selection. Similarly, "time-efficiency" in tender response is not a primary factor in supplier selection. Responsible sourcing emphasises due diligence, capability, and alignment with sustainability and ethical practices as part of selection decisions.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implementation" - supplier pre-qualification vs. selection criteria.
NEW QUESTION # 214
What are the risks of outsourcing?
* Loss of control of project
* Loss of assets
* Loss of future business opportunities
* Loss of private information
Answer: C
Explanation:
Loss of control and loss of private information are significant risks in outsourcing. Responsible sourcing involves mitigating these risks by setting clear agreements, monitoring, and safeguarding sensitive information to maintain control over outsourced activities.
NEW QUESTION # 215
Which of the following financial ratios would indicate a supplier's potential exposure risk to a steep rise in inflation?
Answer: D
Explanation:
The correct answer is 'gearing ratio'.
Gearing measures how much of a company's funding is based on long-term debt or loans- this would be affected by a steep rise in inflation. If a company has a mortgage on their offices or facto-ry and they need to remortgage and inflation has gone up a lot- they'll be paying a lot more on their mortgage. This will severely effect the gearing ratio as they'll have more outgoings than incoming.
Gross profit margin COULD be affected by inflation, for example if you've got hyper-inflation and the country goes into recession and people stop buying your product. However, this answer isn't al-ways right and depends on many factors- the industry, the product, the company etc, so for the purpose of CIPS should be discounted.
There are many industries which are immune to inflation.
NEW QUESTION # 216
Brooklyn Ltd is a manufacturer of windows and has a single sourcing relationship with their supplier of glass.
What relationship style would be best suited?
Answer: B
Explanation:
When single sourcing, you should aim to have a collaborative relationship with the supplier. They're the only ones who provide you with glass, which is a vital part of windows. So you need to make sure you have a good relationship with them and work with them to overcome any issues such as supply chain disruptions. If not- you've got no windows to sell!
NEW QUESTION # 217
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