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| Section | Objectives |
|---|---|
| Understand compliance issues when sourcing from suppliers | - Modern slavery and human rights in supply chains - Anti-bribery and anti-corruption measures - Sustainability and environmental considerations - Global sourcing considerations and Incoterms - Regulatory and legal compliance - Codes of conduct and ethical standards - Ethical sourcing and corporate social responsibility (CSR) |
| 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) - Supplier audits and due diligence - Financial analysis of suppliers - Risk assessment in supplier selection - Supplier appraisal and evaluation methods |
| Understand options for sourcing of requirements from suppliers | - Insourcing vs outsourcing decisions - Sourcing strategies and approaches - Single, dual and multiple sourcing - Factors influencing sourcing decisions |
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NEW QUESTION # 240
A procurement manager has a new contract to award. They know there will be considerable interest from potential suppliers, as there are approximately twelve companies in the market. Which of the following is a benefit of using a full competitive tendering process for this new contract?
Answer: A
Explanation:
A full competitive tendering process ensures fairness by treating all suppliers equally, allowing them to compete on a level playing field. This aligns with ethical sourcing principles, especially in the public sector, where transparency and equal opportunity are paramount.
NEW QUESTION # 241
A "carnet" provides evidence of the origin of goods shipped in international trade. Is this correct?
Answer: A
Explanation:
An ATA Carnet is an international customs document that allows temporary duty-free movement of goods for exhibitions, trade fairs, or professional use. It is not a certificate of origin, which proves where goods are manufactured, nor is it insurance. Carnets reduce administrative barriers and duties for temporary imports
/exports. Responsible sourcing requires buyers to understand the correct use of trade documents to ensure compliance and avoid penalties, while distinguishing between documents that confirm origin, provide insurance, or facilitate temporary movement.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - international trade documentation.
NEW QUESTION # 242
Which of the following payment mechanisms is most beneficial to the buyer?
Answer: B
Explanation:
Open account (aka credit account) is most beneficial to the buyer. The supplier delivers the goods then the buyer pays.
Cash in advance is most beneficial to the supplier. The buyer pays for the item before receiving it.
This is a known exam topic.
NEW QUESTION # 243
Commodities can be traded on a stock exchange and are generally divided into one of four categories. Which of the following is not one of these four categories?
Answer: B
Explanation:
Plastic is not a commodity. A commodity is something that is naturally occurring and plastic is manufactured.
The other category of commodity is agriculture.
NEW QUESTION # 244
Intra-company trading allows business units within a large enterprise to supply goods or services to another.
What are the likely objectives of intra-company trading?
* Enhances production capacity utilisation
* Offsets some of the fixed costs of the supplying entity
* Compensates the supplying unit for the less effective technology applied
* Ensures internal technology always out-performs that of external suppliers
Answer: A
Explanation:
Intra-company trading aims to optimize internal resources by enhancing production capacity utilization and offsetting fixed costs. By supplying goods or services internally, organizations can achieve economies of scale and better allocate resources. However, compensating for less effective technology or ensuring superior internal technology over external suppliers are not primary objectives of intra-company trading.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 1.1.2: Make or buy decisions and the role of intra-company trading
NEW QUESTION # 245
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