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CIPS L4M8 Q&A - in .pdf
- Exam Code: L4M8
- Exam Name: Procurement and Supply in Practice
- Q & A: 198 Questions and Answers
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- Exam Code: L4M8
- Exam Name: Procurement and Supply in Practice
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CIPS L4M8 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Procurement and Supply Context | - Role of procurement in organisations
|
| Topic 2: Risk, Ethics and Sustainability | - Procurement risk management
|
| Topic 3: Supplier Relationships and Performance | - Supplier relationship management
|
| Topic 4: Procurement Technology and Innovation | - Innovation in supply management
|
| Topic 5: Procurement Process and Sourcing | - Sourcing strategies
|
| Topic 6: Contracting and Legal Principles | - Contract formation
|
CIPS Procurement and Supply in Practice Sample Questions:
Question #1
What are the four quadrants within the Kraljic portfolio matrix?
Reveal Solution Discussion 0Correct Answer:
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
Question #2
What are the definition of a new buy and a modified re-buy?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
A new buy is the purchase of goods and services by an organization or an individual for its first time. For example a transport organization for the very first time contracting the purchase of a Lorry out to an external supplier. In situations like this, it is advisable to start the procurement cycle from the very first stage. Which is understanding the need and developing high level specification.
Modified re-buy is the purchase of goods or services that an organization has bought before there was a need but with changes to the specification or supplier or quantity or quality. In carrying out modified re-buy, procurement professional should start from the very first stage of the procurement cycle to justify the added need and follow through. Not in all cases that buyer would have to start from understanding the need. In a situation where the changes required is a change of supplier, the organization will start from its preferred suppliers list and contract the next ranking supplier as the case may be.
Question #3
What is PQQ and what does it include?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
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.
Question #4
What matrix helps to define how to manage stakeholders?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Stakeholders are individuals or organizations who are directly affected by a decision for example, community, shareholders, employees, suppliers, distributors, customers etc. stakeholders can be internal (employers, staffs), connected (such as suppliers, shareholders, financers and customers) external (Government, pressure groups, and community).
The matrix that helps define how to manage stakeholders is mendelow's stakeholders manage-ment matrix.
This matrix is based on the theory that the level of management stakeholders require depends on the level of their power and interest within the project or organization The matrix groups stakeholders in to four quadrants according to their power and interest and ad-vice how to manage them.
1) Low power - Low interest (minimum effort)
2) Low power - High interest (keep inform)
3) High power - Low interest (keep satisfied)
4) High power - high interest (manage closely)
Question #5
Write down a list of assets that belong to an organization with which you are familiar.
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Assets are things that an organization owns regarded as having value and available to meet debt and generate revenue. The following are list of assets owned by Fullpower project, a shoe manufacturing firm;
1) Machinery,
2) a factory,
3) an innovative software,
4) skills of its personnel,
5) land,
6) Distribution network.
7) Its long time relationship with experienced suppliers of raw materials and Distributors of finished shoes.
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