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| Section | Objectives |
|---|---|
| Topic 1: Understand compliance issues when sourcing from suppliers | - Ethical sourcing and corporate social responsibility (CSR) - Sustainability and environmental considerations - Regulatory and legal compliance - Codes of conduct and ethical standards - Global sourcing considerations and Incoterms - Anti-bribery and anti-corruption measures - Modern slavery and human rights in supply chains |
| Topic 2: Understand the key processes that can be applied to the analysis of potential external suppliers | - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Risk assessment in supplier selection - Supplier appraisal and evaluation methods - Financial analysis of suppliers - Supplier audits and due diligence |
| Topic 3: Understand options for sourcing of requirements from suppliers | - Sourcing strategies and approaches - Factors influencing sourcing decisions - Single, dual and multiple sourcing - Insourcing vs outsourcing decisions |
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NEW QUESTION # 263
Chantelle is a procurement apprentice working in the public sector for an education organisation. As a result of studying towards the CIPS qualification, Chantelle has become aware of the importance of incorporating sustainability and environmental award criteria into tender exercises and has informed her manager of this.
For the purchase of IT supplies, which requirement could be evaluated within the sustainability and environmental award criterion?
Answer: D
Explanation:
Incorporating sustainability and environmental criteria into procurement decisions is essential for promoting responsible sourcing practices.Consolidated deliveryrefers to combining multiple shipments into a single delivery, which can significantly reduce the carbon footprint associated with transportation. By minimizing the number of deliveries, organizations can decrease fuel consumption and emissions, aligning with environmental sustainability goals.
This practice is particularly relevant in the procurement of IT supplies, where frequent, small deliveries can be consolidated to improve efficiency and environmental performance. Evaluating suppliers based on their ability to provide consolidated deliveries demonstrates a commitment to sustainable procurement practices.
References:
CIPS Study Guide: Ethical and Responsible Sourcing - Study Guides - CIPS Quizlet: CIPS L4M4 Ethical and Responsible Sourcing Flashcards
NEW QUESTION # 264
If a company is described as 'liquid' what does this mean?
Answer: C
Explanation:
liquid = the ability to pay short and medium term debts. In simple terms do you have more in stuff (money, assets) than you owe in debt?
Understanding Liquidity and How to Measure It (investopedia.com)
This is a hot topic for the exam. Learn everything in this section.
NEW QUESTION # 265
Which beneficial outcomes would result from a procurement decision to change supply to alocal sourcefor a services contract?
Select TWO that apply.
Answer: B,E
Explanation:
Sourcing services locally can deliversocial and economic benefits, including the creation oflocal employment opportunitiesandeconomic stimulation within the community. Local suppliers often reinvest in the local economy, supporting regional development and social value objectives. While reduced environmental impact may occur, it is not guaranteed for services, and contract management requirements remain regardless of supplier location. Ethical and responsible sourcing encourages consideration of social value outcomes, particularly where procurement decisions can positively impact local communities and stakeholders.
Reference:CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - social value; local sourcing benefits.
NEW QUESTION # 266
Which of the following is not a type of fraud that procurement professionals should be vigilant for?
Answer: B
Explanation:
Coercion is not a type of fraud. The other three are.
NEW QUESTION # 267
Liquidity is a solvency measure which determines whether an organisation is able to pay its debt. Which of the following would you use to assess a supplier's liquidity? Select TWO.
Answer: B,C
Explanation:
The correct answer is current assets and current liabilities. There are manyQuestionsabout financial ratios on the exam.
If you're unsure on them I suggest doing further reading outside of the study guide as this will help. I like this youtube video (I'm not associated with the makers of this video but think it's a great way to explain liquidity) Liquidity ratios (youtube.com) You can be asked to work out liquidity in the exam. If you are asked this, the numbers will be very simple to the point you may be able to do the sums in your head. There is also a calculator on the test app you can use.
NEW QUESTION # 268
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