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| Section | Objectives |
|---|---|
| Understand options for sourcing of requirements from suppliers | - Single, dual and multiple sourcing - Insourcing vs outsourcing decisions - Factors influencing sourcing decisions - Sourcing strategies and approaches |
| Understand the key processes that can be applied to the analysis of potential external suppliers | - Supplier appraisal and evaluation methods - Financial analysis of suppliers - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Supplier audits and due diligence - Risk assessment in supplier selection |
| Understand compliance issues when sourcing from suppliers | - Global sourcing considerations and Incoterms - Sustainability and environmental considerations - Regulatory and legal compliance - Anti-bribery and anti-corruption measures - Modern slavery and human rights in supply chains - Codes of conduct and ethical standards - Ethical sourcing and corporate social responsibility (CSR) |
The CIPS L4M4 certification exam offers a great opportunity for professionals to demonstrate their expertise and knowledge level. In return, they can become competitive and updated with the latest technologies and trends. To do this they just need to enroll in CIPS L4M4 Certification Exam and have to put all efforts and resources to pass this challenging L4M4 exam.
NEW QUESTION # 31
According to the CIPS code of conduct, which laws should a procurement professional adhere to?
Answer: D
Explanation:
The CIPS Code of Conduct says to adhere to all laws of countries in which I practice. So if you're in the UK and procure stuff from China, you need to abide by both UK and Chinese laws, not just UK laws.
There's no international procurement laws- these are all different for different countries.
ILO doesn't publish laws.
NEW QUESTION # 32
A restricted tender process involves supplier selection. This process focuses on which of the following?
* Production capacity
* Decommissioning costs
* Total life cost
* Financial stability
Answer: B
Explanation:
Restricted tendering involves filtering suppliers through a prequalification stage and then evaluating proposals. The selection focuses on ensuring suppliers have adequate production capacity and financial stability to deliver on requirements. These are critical to continuity, quality, and risk management.
Decommissioning costs are not typically part of supplier selection, and total life cost is an award criterion considered later in evaluation. By checking production capacity and financial stability, buyers mitigate risks of underperformance or financial collapse. This approach aligns with responsible sourcing, where due diligence ensures suppliers can sustainably meet obligations.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implementation" - supplier qualification and restricted tendering.
NEW QUESTION # 33
A "carnet" provides evidence of the origin of goods shipped in international trade. Is this correct?
Answer: D
Explanation:
An ATA Carnet is an international customs document that allows temporary duty-free movement of goods for exhibitions, trade fairs, or professional use. It is not a certificate of origin, which proves where goods are manufactured, nor is it insurance. Carnets reduce administrative barriers and duties for temporary imports
/exports. Responsible sourcing requires buyers to understand the correct use of trade documents to ensure compliance and avoid penalties, while distinguishing between documents that confirm origin, provide insurance, or facilitate temporary movement.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - international trade documentation.
NEW QUESTION # 34
Polygon Incorporated is a new company in the mining industry, which often gets bad press due to issues of sustainability. Which of the following should Polygon Incorporated consider when developing sustainable business practices?
Answer: D
Explanation:
The three pillars of sustainability are profit, people and planet. This may also be referred to as social, economic and environmental.
NEW QUESTION # 35
Mark is a category manager responsible for buying large pieces of laboratory equipment in the public (government) sector. Which of the following Incoterms would ensure that an overseas supplier is responsible for paying all delivery costs, including import duties and taxes for these goods?
Answer: D
Explanation:
DDP (Delivered Duty Paid) requires the supplier to cover all delivery costs, including import duties and taxes.
This term ensures that the buyer receives the goods without additional charges, aligning with public sector procurement practices for cost-effective and transparent sourcing.
NEW QUESTION # 36
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