Pass CIPS L4M4 Guide, L4M4 Reliable Test Question

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CIPS L4M4 Exam Syllabus Topics:

Topic	Details
Topic 1	Understand options for sourcing requirements from suppliers: This section covers the sourcing process, approaches, options, and award criteria for obtaining requirements from suppliers. The sub-topics provide a foundation for strategic sourcing.
Topic 2	Understand the key processes that can be applied to the analysis of potential external suppliers:
Topic 3	Understand compliance issues when sourcing from suppliers: It explores legislative, regulatory, and organizational requirements for sourcing. It compares the use of audit and other mechanism of feedback.
Topic 4	This section examines analyzing market data, obtaining quotations tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.

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L4M4 Reliable Test Question - Test L4M4 Pattern

The Ethical and Responsible Sourcing (L4M4) practice test software also keeps a record of attempts, keeping users informed about their progress and allowing them to improve themselves. This feature makes it easy for L4M4 desktop-based practice exam software users to focus on their mistakes and overcome them before the original attempt. Overall, the Windows-based Ethical and Responsible Sourcing (L4M4) practice test software has a user-friendly interface that facilitates candidates to prepare for the Ethical and Responsible Sourcing (L4M4) exam without facing technical issues.

CIPS Ethical and Responsible Sourcing Sample Questions (Q11-Q16):

NEW QUESTION # 11
What is a risk of pre-warning a supplier that you will conduct an audit of their facilities?

A. they will not be able to make that time and date
B. they may coach staff in what to say
C. they will not achieve KPIs
D. they will not perform regular duties that day

Answer: B

Explanation:
A risk of pre-planning an audit is the supplier has time to prepare for it. It's a good thing in that they can get their paperwork in order but the downside is they can overprepare so you don't get a realis-tic representation of what they're doing. One way they can do this is coaching staff in what to say to the auditors.

NEW QUESTION # 12
The International Chamber of Commerce (ICC) publish a list of commercial rules known as Inco-terms. What is the purpose of these rules?

A. to state which products can be exported from which countries
B. to ensure buyers and suppliers pay the correct level of tax on imported and exported goods
C. to describe the point at which an item is considered delivered
D. to provide internationally recognized product descriptions

Answer: C

Explanation:
Incoterms describe the point at which an item is considered 'delivered' and explains who has the risk of what during the transport of the goods.

NEW QUESTION # 13
GDP is an economic index that a procurement professional can use to measure economic data. What does GDP tell you?

A. the monatary value of the goods manufactured in a financial period
B. average changes in price over a year
C. the value of commodities such as steel, oil and wheat at a point in time
D. the value of public limited companies within a country

Answer: A

Explanation:
GDP = gross domestic product = "the monetary value of goods and services manufactured or sup-plied in a financial period". People use it to say whether a country's economy is strong or weak.
Stock markets look at the value of public limited companies within a country.
Commodity indices look at the value of commodities such as steel, oil and wheat at a point in time Average changes in price over a year can be measured by CPI or PPI

NEW QUESTION # 14
Weighted points systems can be applied to evaluate and compare potential suppliers. For which of the following factors would it be appropriate to use this method?
* Financial stability
* Supplier reliability
* Market demand
* Negotiation styles

A. 1 and 2 only
B. 2 and 3 only
C. 3 and 4 only
D. 1 and 4 only

Answer: A

Explanation:
Financial stability and supplier reliability are quantifiable factors suited to weighted points systems, allowing procurement professionals to objectively assess and compare suppliers. This method aligns with ethical sourcing practices by promoting fairness and transparency in supplier selection.

NEW QUESTION # 15
A procurement manager has developed some reports in order to analyse total company expenditure on bought- in goods and services from external suppliers. Expenditure information by product category or supplier can achieve which of the following? Select TWO that apply.

A. Help the organisation set its marketing strategy
B. Highlight opportunities for negotiating better prices and reducing costs with suppliers
C. Identify how obsolete stock items can be disposed of in a sustainable way
D. Provide information on costs and trends to compare with previous time periods
E. Provide analysis to help with planning production schedules

Answer: B,D

Explanation:
Analysing expenditure data by product category or supplier enables procurement managers to:
* Negotiate Better Prices:Identifying high-spend areas or suppliers can provide leverage in negotiations, leading to cost reductions.
* Monitor Cost Trends:Tracking expenditure over time helps in understanding cost fluctuations, budgeting, and forecasting future spend.
Exact Extract from Study Guide:
"Spend analysis is a process that analyses the historical spend data of your organisation to provide answers to questions concerning spend visibility, compliance, and cost-saving opportunities."

NEW QUESTION # 16
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PASS CIPS L4M4 GUIDE, L4M4 RELIABLE TEST QUESTION

Pass CIPS L4M4 Guide, L4M4 Reliable Test Question