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CIPS L4M8 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Procurement Process and Procedures | 25-30% | - Supplier selection methods - Purchase ordering and goods receipt - Procurement cycle stages - Contract award criteria - Requirements gathering and specification |
| Practical Application Scenarios | 15-20% | - Recommendation and justification skills - Applying theory to real-world procurement situations - Case study analysis - Problem-solving and decision-making |
| Supplier Relationship Management | 20-25% | - Risk management in supplier relationships - Supplier relationship types - Supplier development and improvement - Partnership and collaboration models - Supplier performance measurement (KPI, scorecards) |
| Strategic Sourcing and Category Management | 20-25% | - Supplier segmentation and criticality analysis - Strategic sourcing process - Spend analysis techniques - Category segmentation |
| Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Ethical sourcing considerations - Supply chain transparency - Environmental sustainability in procurement - Modern slavery and fair trade |
CIPS Procurement and Supply in Practice Sample Questions:
Describe three ways that hidden cost could present themselves within the logistics operation
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
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
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)
* Refer to the question column for response
Describe four factors that could damage reputation within the supply chair
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
The reputation of all the organizations within a supply chain is linked. A Company's reputation is an intangible asset that can contribute to the failure of an organization if damaged. Factors that could damage organizational reputation within the supply chain are;
1. Quality: if the product or service quality is poor the organization may not satisfy it customers and this can lead to a loss of reputation in the market. For example, a residential building construction company contracting a supplier that would do a bad job which in three months may require home owners to reinstall new doors.
2. Sustainability: if the organization is not replenishing that which it is extracting, it will some day run out of business or probably loss loyal customers. For example a drilling company that spills hydrocarbon as it drills.
3. Fit for purpose: if an organization produce a product or carry out services that are not fit for purpose, it may run at loss for there will be so much rejection and rework. This can lead to customers switching to another organization which product or services are fit for their purpose.
4. Contract management: an organization will have to manage its suppliers and the contracts to ensure they are delivering what they were contracted to do. A poor contract management is a waste in the process of delivery that can lead to reputational loss.
Which four procurement cycle stages happen after the award of the contract?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
The procurement cycle is the heart of purchasing, sourcing and supplying and should be followed in day-to- day practice in the industry. The procurement cycle has thirteen stages. Contract award is stage 9, and the stages after the contract award are; Stage 10: ware house, logistic and receipt Stage 11: Contract performance review and continuous improvement Stage 12: SRM/SCM and contract management Stage 13: Asset management, lessons learned, end of life.
Explain how procurement should decide whether to make or buy a product or service.
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Make or buy decision are about whether a products or services should be made within the organization or bought-in from an external supplier.
For a procurement professional to establish which method (make or buy) offers the best value, the item in question must be thought through if it is core to the organization and which option will add more value to the organization, as regards achieving its strategic goals. If it is core the procurement professional decide to make it and if it is not core the product or services can be bought in.
* Refer to the question column for response
Jerome -
The number of the Q%A and the content are the same with the real exam. I come to this L4M8 study material by chance and after I passed my L4M8 exam.