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CIPS L4M8 exam covers a wide range of topics related to procurement and supply chain best practices. These topics include sourcing strategies, supplier selection, contract management, negotiation skills, and supply chain risk management. L4M8 Exam is designed to test the candidate's ability to apply these concepts in real-world situations.
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CIPS L4M8 Certification Exam is a valuable investment for procurement and supply chain professionals who want to enhance their knowledge and skills. It is a comprehensive course that covers essential topics and provides practical skills that can be applied in the workplace. Certification demonstrates an individual's commitment to the profession and can lead to new opportunities and career advancement.
Passing the CIPS L4M8 certification exam is essential for professionals who want to further their careers in procurement and supply. Procurement and Supply in Practice certification is recognized globally and is highly valued by employers. It demonstrates that the candidate has a thorough understanding of the procurement and supply chain industry and can apply this knowledge in a practical setting. Furthermore, it shows that they have the skills and expertise needed to manage procurement projects and negotiate with suppliers.
NEW QUESTION # 59
What are the four stages of decommissioning?
Answer:
Explanation:
See the answer in explanation.
Explanation:
When a fixed asset reaches the end of its life, it requires decommissioning before reconditioning or disposal.
Decommissioning is to observe all the safety measures and technical procedures and stop active machinery or an asset from operation (example gas plan, generator, transformer etc.
Decommissioning process include the following aspect
1) Preparation: Plan the process
2) Dismantle: Take the asset apart and remove hazardous waste
3) Processing: make safe any hazardous waste
4) Disposal: Ensure paper work is received to confirm removal and disposal
NEW QUESTION # 60
Describe three types of fraud that could occur within the supply chain of an organization with which you are familiar.
Answer:
Explanation:
Fraud occurs when a person acts deliberately to secure monies from another party through dishonest method. Within the supply chain of an organization, fraud can represent itself in the following ways:
1. Kickbacks: e.g. (commission given to a bribe taker for service perform)
2. Corrupt influence (e.g ordering more than what is required)
3. Collusion: (group of suppliers working together to submit multiple bids and split profit.
4. Bid Rigging (a contract is informally agreed with a chosen supplier prior to the official process
5. invoicing fraud
6. Substitution (submitting products that are below the required quality
7. False claims (files false document)
Case Study
A series of news stories reporting events such as the collapse of the Rana Plaza building in 2013 have drawn attention to the poor conditions in garment factories across India and South East Asi a. Human rights groups have long be critical of the excessive hours and poor wages workers are forced to endure, as well as the abuse they receive from supervisor. With consumers becoming increasingly aware of these conditions, more pressure is being put on global brands and retailers to ensure their supply chains are fair and ethical.
Certain areas have been notorious for the mistreatment of workers. In India's textile valley', young women are been bound into contracts where they work for two to three years, in exchange for a lump sum of money that they can then put towards a dowry. This is known as the 'Sumangali [a married woman] Thittam' scheme. These women are forced to live in hostels under restrictions that prevent them from moving, and are denied the opportunity to improve their living conditions. Retailers including Walmart and H&M are known to source garments from factories in the 'textile valley'.
Reports by organizations including the Asia Floor Wage Alliance (AFWA), Central Combodia, Global Labor Justice, Sedane Labour Resource Centre (LIPS) Indonesia, and Society for Labour and Development (SLD) India have exposed unethically run factories that supply garments to H&M, Gap and Walmart. However, retailers will continue to benefit from expensive labour until mounting customers pressure causes them to change.
NEW QUESTION # 61
What are the four quadrants within the Kraljic portfolio matrix?
Answer:
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
NEW QUESTION # 62
What information should be included on a purchase requisition?
Answer:
Explanation:
RESPONSE
A purchase requisition should contain the following information
1) Date of the requisition
2) Description of what is required
3) Supplier if known
4) The quantity
5) when the need is required
6) why the need is required
7) who identified the need
8) who approved the need
9) if it's a re-buy
NEW QUESTION # 63
What are five recognized types of modern slavery?
Answer:
Explanation:
Modern slavery is against ethical and responsible sourcing. Modern slavery is one of the areas to understudy for procurement professionals to carry out ethical and responsible sourcing and this is recognized in five ways.
1. Human trafficking: The process of seeking, recruiting, transporting and exploiting individuals to work against their will. Often human trafficking includes violence, deception, and coercion.
2. Bonded labour (debt bondage): This is an individual's promise to provide service through ex-ploitation as repayment, or part thereof, of a dept or other obligation.
3. Forced labour: Work that people are forced to do with the treat of punishment if it is not carried out.
4. Children labour: The exploitative and illegal employment of children.
5. Domestic slavery: Individuals exploited through working in private households for little or no money in return for living accommodation
NEW QUESTION # 64
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