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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Procurement and Supply in Practice |
| Exam Number: | L4M8 |
| Exam Format: | Objective test, Computer-based exam, Multiple choice questions |
| Exam Duration: | 120 minutes |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Available Languages: | English |
| Certificate Validity Period: | No expiry (qualification does not expire once awarded) |
| Recommended Training: | CIPS Official Learning CIPS Study Resources |
| Exam Registration: | CIPS Qualifications Page Pearson VUE CIPS Exams |
| Sample Questions: | CIPS L4M8 Sample Questions |
| Exam Way: | Computer-based exam delivered via Pearson VUE test centres or authorised CIPS assessment centres (some regions may offer remote proctoring) |
| Pre Condition: | No formal prerequisite; CIPS Level 3 Diploma (or equivalent experience) is recommended |
| Official Syllabus URL: | https://www.cips.org/qualifications/diploma-level-4-procurement-and-supply/ |
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The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body that provides training and qualifications for procurement and supply chain professionals. The CIPS L4M8 exam, also known as Procurement and Supply in Practice, is a critical exam for procurement and supply chain professionals. L4M8 Exam aims to test the knowledge and skills of candidates in procurement and supply chain management, including sourcing, negotiation, contract management, and supplier relationship management.
NEW QUESTION # 72
What are the ILO and ETI?
Answer:
Explanation:
ILO stands for International Labour Organization- It is a United Nations agency whose mandate is to advance justice and promote decent work by setting international labor standard.
ETI is Ethical Trading Initiative: It is a leading alliance of companies, trade unions and NGOs that promote respect for workers right around the globe. Its vision is a world where all workers are free from exploitation and discrimination and enjoys condition of freedom, security and equity.
NEW QUESTION # 73
How can procurement professionals select suppliers?
Answer:
Explanation:
See the answer in explanation.
Explanation:
During the sourcing stage of the procurement cycle, the procurement professional needs to identify and select suppliers to fulfill the business needs. Supplier selection involves evaluating suppliers against predetermine criteria to assess their suitability in working with the buying organization. Suppliers can be evaluated according to Carter's 10Cs which are as follows: (1) Competency (2) capacity (3) consistency (4) control (5) cost (6) commitment (7) cash (8) Clean (9) culture (10) communication.
Procurement professionals can decide to evaluate and select suppliers based on the overall strategy and the business objectives. After that, it most suitable suppliers receive the documentation (Invitation to tender/ request for quotation).
* Refer to the question column for response
NEW QUESTION # 74
What is PQQ and what does it include?
Answer:
Explanation:
Pre-qualification questionnaire (PQQ) is often standard forms that buyers send to potential suppli-ers. The purpose is to ensure that these potential suppliers could, if they win the contract, supply the product or service to the standard required. PQQ includes requesting details from the potential suppliers on the following information
1. Company Details
2. Environment policies
3. Trading history
4. Ethical policies
5. Financial information
6. Health and safety policies
7. Quality standards
8. References
9. Insurance.
NEW QUESTION # 75
What are the 3Ps in the triple bottom line.
Answer:
Explanation:
Trying to measure how sustainable an organization was use to be challenging undertaking. However, during the 1990s, a concept brought up by American John Elkington change the way sustainability was measured. This framework is known as the triple bottom line (TBL) and measures sustainability in relation to organizational performance and investment against the 3Ps (1) Profits (2) People (3) Planet. For example; Profit: A packaging manufacturer reinvesting its profits in State- of-the-art recycling machinery for it wasted cardboard.
People: A large privately owned call centre donate its end of life computers to a local youth clubs and social groups to help gain internet cases.
Planet: A driving instructors using only hybrid vehicles to teach her learners, thus to reducing Co2 emission.
NEW QUESTION # 76
Describe three ways that hidden cost could present themselves within the logistics operation
Answer:
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 # 77
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