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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Procurement and Supply in Practice |
| Exam Number: | L4M8 |
| Related Certifications: | CIPS Level 6 Professional Diploma in Procurement and Supply CIPS Level 4 Diploma in Procurement and Supply CIPS Level 5 Advanced Diploma in Procurement and Supply |
| Certificate Validity Period: | Valid for life; certification does not expire |
| Exam Duration: | 180 minutes |
| Exam Format: | Constructed Response, Essay / short answer style, Scenario-based questions |
| Real Exam Qty: | 4 scenario-based questions |
| Exam Price: | £150 / €155 / $190 approx |
| Passing Score: | 50/100 |
| Available Languages: | English |
| Recommended Training: | CIPS Official Study Materials CIPS Business Training |
| Exam Registration: | CIPS Official Exam Booking |
| Sample Questions: | CIPS L4M8 Sample Questions |
| Exam Way: | Computer-based exam; available online remote or at approved test centres |
| Pre Condition: | Recommended completion of all prior Level 4 modules (L4M1–L4M7); no strict mandatory requirement |
| Official Syllabus URL: | https://www.cips.org/exam-booking/l4m8-procurement-and-supply-in-practice-core |
>> L4M8 Zertifizierungsantworten <<
Um Ihre Zertifizierungsprüfungen reibungslos erfolgreich zu meistern, brauchen Sie nur unsere Prüfungsfragen und Antworten zu CIPS L4M8 （Procurement and Supply in Practice）auswendigzulernen. Viel Erfolg!
Die CIPS L4M8-Zertifizierungsprüfung wurde entwickelt, um das Verständnis der Kandidaten für wichtige Beschaffungs- und Lieferkettenkonzepte sowie deren Fähigkeit zu testen, sie in realen Szenarien anzuwenden. Die Prüfung besteht aus 60 Fragen der Multiple-Choice-Fragen und Kandidaten haben zwei Stunden Zeit, um sie zu vervollständigen. Die Fragen sollen eine Herausforderung darstellen und sicherstellen, dass nur die kenntnisreichsten und qualifizierten Fachkräfte die Zertifizierung erhalten.
169. Frage
Why is it important to have adequate procedures in place within an organization in relation to bribery?
Antwort:
Begründung:
See the answer in explanation.
Explanation:
Bribery is the act of giving someone something of value to persuade them to do something that benefits you.
Ethical and responsible sourcing requires conducting due diligence on bribery before going into contractual relationship because failure to this might lead to loss in reputation.
In other for an organization to defend itself against a case of suspected bribery, the United Kingdom bribery Act introduced in 2010 suggests that organizations should have adequate procedures' in place.
The following are six procedures an organization should have in place to be able to defend itself against bribery
1) Proportionate procedure
2) Top level commitment
3) risk assessment
4) due diligence
5) communication
6) monitoring and reviewing
* Refer to the question column for response
170. Frage
Explain how a lack of understanding of a global supplier's culture and ethical behavior could cost buying organization money.
Antwort:
Begründung:
See the answer in explanation.
Explanation:
Organizational culture is made up of behaviors, traits, values and beliefs and these differ signifi-cantly across the globe. Gestures that may be positive in one country can be highly offensive in another. This culture could mean; for example, individualistic/collectivistic, masculine/feminine, uncertainty avoidance, power distance, Time perspective, indulgence/restraint.
When negotiating and forming contracts within the extended supply chain, it is important that the culture of the suppliers is understood to be compatible with the buying organization or else their might be loss of reputation, time, money material and equipment.
Also, being not aware of what is an acceptable ethically behavior in global sourcing can cost a buying organization. In some countries, bribery and kickbacks are a standard part of doing business. If procurement professional is not aware of the fact that some countries methods of doing business involves or expect kickbacks, for example, this could be costly to the organization and cancel out any savings that had originally been seen.
Cost of poor quality and rework: if the product or service quality is poor the organization may not satisfy it customers and this can lead to a loss of reputation in the market. For example, a residential building construction company contracting a supplier that supply would require home owners to reinstall a new door within three months. The organization would spend more funds in carrying out rework.
More administrative cost in contract management: an organization will have to manage it sup-pliers and the contracts to ensure they are delivering what they were contracted to do. A poor con-tract management is a waste in the process of delivery that can lead to loss of money. Also, to cor-rect this would cost the organizations administrative cost.
* Refer to the question column for response
171. Frage
How does positive social impact present itself?
Antwort:
Begründung:
Organizations which display good behavior create a positive social impact. The community in which they are based and to which they supply will benefit from the following.
1. High employment
2. Fair wages
3. low pollution
4. sustainable resources
5. Engagement and movement with local organization
172. Frage
Describe two negative factors associated with ordering excess inventory.
Antwort:
Begründung:
See the answer in explanation.
Explanation:
In the decision to not run out of supplies, organizations can anticipate a peak were by it products will be in a high demand or a period of scarcity of raw materials and may want to increase the in-ventory. However, if this forecast is not accurate, it may lead the organization to holding excess inventory. This can expose the organization to some negative factors.
Acquisition Cost: The organization will incur an acquisition cost for the excess inventory which is inclusive of the cost of placing the order and the cost of purchasing the goods.
Holding Cost: The organization will spend more money holding the stock, trying to keep it in good condition by providing the required light, temperature, skilled handlers and so on.
Working Capital not adding value: This will off shoot the holding cost. Also valuable working capital in excess stock which in the time not adding value, can affect the liquidity of the business. This is also an opportunity cost and increase solvency.
* Refer to the question column for response
173. Frage
What are the reasons that a contract can legally be terminated?
Antwort:
Begründung:
See the answer in explanation.
Explanation:
A contract is written or verbal agreement, made between two or more parties that are legally en-forceable. For a contract to be legally binding it must include intention of parties entering into the contracts. All parties must have the capacity to contract or be contracted. They must be of a sound mind, there should be a promise (offer) for performance from the other party and an exchange (consideration) of one thing for another within an agreement for contract to be binding, there must be an acceptance of the offeror's offer by the offeree.
There are many reasons contract can legally be terminated, including non-performance by one or both parties, a significant change in the requirement.
There are several reasons contract can legally be terminated, including non-performance by one or both parties; breach of material, failure to meet service level agreement, ethical breaches, a significant change in the requirement of either party caused by ethical change in the market, change in Demand, obsolescence, contract completion. The procurement professionals should get an exit strategy that should encourage a stress free disengagement should incase there are no profitable reason to continue with the contract.
174. Frage
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