Efficient CIPS - L4M8 - Detailed Procurement and Supply in Practice Study Plan

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CIPS L4M8 Exam Syllabus Topics:

Section	Weight	Objectives
Ethics, Responsibility & Compliance	25%	- Ethical and responsible sourcing application 1. Anti-bribery, corruption and human rights protection 2. Regulatory compliance and ethical governance 3. Sustainability and ESG integration 4. CIPS Code of Conduct and professional standards
Application of Procurement Cycle	25%	- Key stages of procurement cycle in practice 1. Tendering and selection processes 2. Contract formation and management 3. Defining business needs and requirements 4. Market analysis and supplier research
Sourcing Process & Supplier Management	25%	- Stages of strategic sourcing 1. Stakeholder engagement and communication 2. Supplier performance monitoring and development 3. Creation of contract terms and specifications 4. Supplier evaluation, selection and award
Whole Life Asset & Cost Management	25%	- Total cost of ownership concept 1. Hidden costs and supply chain risks 2. Purchase, operation, maintenance and disposal costs 3. Legal, environmental and waste management obligations 4. Cross-functional collaboration and data use

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CIPS Procurement and Supply in Practice Sample Questions (Q95-Q100):

NEW QUESTION # 95
Which four procurement cycle stages happen after the award of the contract?

Answer:

Explanation:
See the answer in explanation.
Explanation:
The procurement cycle is the heart of purchasing, sourcing and supplying and should be followed in day-to- day practice in the industry. The procurement cycle has thirteen stages. Contract award is stage 9, and the stages after the contract award are; Stage 10: ware house, logistic and receipt Stage 11: Contract performance review and continuous improvement Stage 12: SRM/SCM and contract management Stage 13: Asset management, lessons learned, end of life.

NEW QUESTION # 96
What does the acronym SMART stand for?

Answer:

Explanation:
When the procurement professional is setting key performance indicator (KPI) where which the supplier performance will be monitored and managed. The KPI is expected to be SMART. SMART is an acronym that is used to set KPI and specification.
S - specific ,
M - measurable,
A - achievable,
R - relevant, and
T - timebound.

NEW QUESTION # 97
Describe three ways that hidden cost could present themselves within the logistics operation

Answer:

Explanation:
See the answer in explanation.
Explanation:
Hidden costs are costs that do not always present themselves at the onset of the project.
Logistics can provide a hidden cost within global sourcing. The movement of goods can generate risk within a localized supply chain, but the risk is greater within global sourcing. Within global sourcing there are usually many more aspects to the logistics operation, hidden cost associated with the logistics process includes,;1) delays that can be experienced after placing orders, 2) unclear and poor/incorrect communication that might affect the successes of the transaction, also 3) goods could be confiscated by customs for unseen reasons.
* Refer to the question column for response

NEW QUESTION # 98
Explain why it is deemed better to use Sea freight rather than air

Answer:

Explanation:
It would be rare to find a supplier who does not emit any form of pollution. However, part of ethical and responsible sourcing is to make effort to reduce impact of population on the planets. Pollution can be factory emission, Noise, smell, Transportation Development, waste disposal. Transportation is a major cause of pollution. The carbon dioxide emitted from vehicles contributes greatly to air contamination. Yet it is better to use sea freight rather than air because it has a smaller impact on the environment.

NEW QUESTION # 99
Explain the difference between bonded and forced labor.

Answer:

Explanation:
See the answer in explanation.
Explanation:
Bonded labour and forced labour are among the five types of modern slavery which is against ethical and responsible sourcing.
Bonded labour also known as debt bondage, this is an individual's promise to provide services through exploitation as repayment, or part of them, of a debt or other obligation whereas forced labour is work that people are forced to do with the heat of punishment if it is not carried out.

NEW QUESTION # 100
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