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Candidates who successfully complete the CIPS L4M8 Exam will be awarded the CIPS Diploma in Procurement and Supply, which is a globally recognized qualification that demonstrates a commitment to professional development and continuous learning. Whether you are just starting out in your career or looking to take it to the next level, the CIPS L4M8 Exam can help you develop the skills and knowledge you need to succeed in procurement and supply chain management.

The CIPS L4M8 Exam covers a range of topics, including the procurement process, strategic sourcing, contract management, supplier relationship management, and ethical procurement practices. It is a rigorous exam that tests both theoretical knowledge and practical application. Passing the exam demonstrates a high level of competence and understanding of the procurement and supply chain field, and can enhance career prospects and earning potential.

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CIPS Procurement and Supply in Practice Sample Questions (Q49-Q54):

NEW QUESTION # 49
What are Carter's 10Cs?

Answer:

Explanation:
Carter's 10cs is a detailed mechanism that procurement professional uses to evaluate potential supplier. What the procurement professional should consider in supplier are the following 10 things.
1) Competency 2) capacity 3) Cost 4) Cash 5) Clean 6) Consistency 7) Control 8) Cul-ture 9) Commitment
10) Communication.


NEW QUESTION # 50
What is the method of monitoring suppliers?

Answer:

Explanation:
When a contract has been awarded, either is to meet tangible needs or intangible needs, contractors or suppliers should be managed to ensure that they are meeting up with fulfilling their contractual agreement. To establish this, there are methods of managing contracts and suppliers.
Service level agreement (SLA) clauses: is placed in contract to ensures that supplier meets the expected and agreed level of service Key performance indicator (KPI): are used to manage contracts that fulfill tangible needs, the KPIs are set performance thresholds that are used to monitor supplier's performance.
Management by objectives (MBO): is the process of defining objective that are strategic to the organization relating them to the vision and mission and communicating them to the supplier through the contract and ensuring that this objective is met during contract performance.
Reviews: Regular supplier reviews are good practices, for it gives the buyer opportunity to give feedback on performance.
Continuous Improvement: Contracts and suppliers can be monitored through how they are chang-ing for better incrementally as they are fulfilling the schedule. There must be a set down system to timely improve on the process, people and continuously reduce waste.
Training: It is essential that training, are provided to come up on areas supplier is lacking.


NEW QUESTION # 51
What are the four quadrants in the Mendelow stakeholder matrix?

Answer:

Explanation:
Stakeholder are individuals or organizations that can be affected directly or indirectly by any project or decision. For successful procurement activities to take place, stakeholders must be identified, engaged and managed. Not all stakeholders require the same level of engagement and management. To appropriately manage identified stakeholders, the Mendelow management matrix has categorized stakeholders in four quadrants, according to how low or high their power and interest in the project could be. The four categories are:
1) Minimum effort (low power-Low interest)
2) Keep satisfied (high power-Low interest)
3) Keep informed (Low power - high interest)
4) Manage closely (High power- High interest)
* Refer to the question column for response


NEW QUESTION # 52
When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?

Answer:

Explanation:
When evaluating potential suppliers, procurement professionals can carry out benchmarking. Benchmarking is the process of comparing a function, a process performance with another which is best in-class.
Other factors, apart from price that can be considered to find the total cost of acquisition include the product or service quality, lead time, supplier culture, its environmental awareness and sustainability.
Case study:
Tetsuya Tada, Chief engineer of the Toyata Supra Sports car has revealed how the process of benchmarking contributed to the car's design.
Tada has worked by comparing the Supra to other cars. For example, it has been intentionally designed with a shorter wheelbase, than the Toyata 86 to make it more suitable for track racing. Furthermore, Tada has benchmarked the Supra against competition by suggesting that drivers will find the car's performance comparable with that of Posche's Cayman sports car.
Tada's knowledge of the features belonging to different sports cars in his industry shows how benchmarking can be used by companies to successfully differentiate their products and remain competitive through awareness of their competitor's activities.


NEW QUESTION # 53
What is CSR policy?

Answer:

Explanation:
Corporate Social responsibility (CSR) policies state how organizations aim to contribute towards the community and how an organization portrays itself towards social impacts.


NEW QUESTION # 54
......

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