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CIPS L4M8 Exam is designed to evaluate the candidate's proficiency in procurement and supply chain practices. L4M8 exam focuses on the practical application of procurement processes, supplier relationships, and risk management in the global market. It is an advanced level exam offered by the Chartered Institute of Procurement and Supply (CIPS) to professionals working in procurement, supply chain management, and related fields.
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CIPS L4M8 exam is an important qualification for procurement and supply professionals who are looking to advance their career in this field. By passing L4M8 exam, candidates are able to demonstrate their knowledge and skills in procurement and supply and show that they have the ability to perform at an operational level. L4M8 exam is also a prerequisite for the CIPS Level 5 Advanced Diploma in Procurement and Supply, which is a higher-level qualification that prepares professionals for more senior roles in the industry.
CIPS L4M8 Exam is part of the CIPS Level 4 Diploma in Procurement and Supply, which is designed for individuals who are starting or progressing a career in procurement and supply chain management. L4M8 exam is essential for professionals who want to demonstrate their knowledge and skills in procurement and supply chain management and gain a recognized qualification in the industry. Passing the CIPS L4M8 exam is a significant milestone in the career of a procurement and supply chain professional.
NEW QUESTION # 73
Which products or services should not be considered for outsourcing, according to Carter's out-sourcing matrix
Answer:
Explanation:
Carters outsource matrix is a useful tool that procurement professionals uses to decide which products or services has a high or low contribution to the organization operation performance and its strategic importance.
The matrix segments products/services into four quadrants. These are Eliminate, outsource, strategic alliance and retain.
According to Carters outsource matrix, all product/services that has a high strategic importance should not be outsourced. They should rather be retained in house or carefully chose suitable sup-pliers and go into strategic alliance.
NEW QUESTION # 74
What are the four quadrants within the Kraljic portfolio matrix?
Answer:
Explanation:
See the answer in explanation.
Explanation:
At the early stages In procurement and supply cycle, buyers begin segmenting current supplies in the categories, depending on their level of integration into the organization. To help get this done, the buyer may use the Kraljic portfolio matrix. The kraljic portfolio matrix segment suppliers into four categories, which are;
1) Routine 2) Bottleneck 3) Leverage 4)strategic supplier
* Refer to the question column for response
NEW QUESTION # 75
What are the two types of damage clauses that can be created within a contract?
Answer:
Explanation:
Damages are 'sum of money that the supplier pays if it fails to carry out its contractual obligation. Damages are categorized into two types; liquidated and un-liquidated.
Liquidate Damages are fixed amount of money agreed between the parties that is payable if a contract is breached. For example, knowing that supplier not being able to install a device properly in a power transformer may destroy the device and going ahead to include a fee in the contract if the device was destroyed.
Un-liquidated damages are unfixed amount of money. It is used when the amount of money that will compensate the injured party cannot be known in advance. A court decides the amount when the damages occur. For example, knowing that supplier not being able to install a device properly in a power transformer may destroy the device, other appliances and equipment unknown, cause the buyer delay in the process and reputational damage as in customer dissatisfaction. Yet, unquantifiable as both party are unable to fix a fee in advance on the damages and leaving it to the court to decide the damage if it may occur.
* Refer to the question column for response
NEW QUESTION # 76
What Incoterm applies here?
The supplier is responsible for delivering the goods to a carrier or to an intermediate agreed place. From this point, the buyer is responsible for ensuring these goods reach their named destination.
Answer: B
NEW QUESTION # 77
Describe two negative factors associated with ordering excess inventory.
Answer:
Explanation:
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.
NEW QUESTION # 78
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