CIPS Exam L4M8 Topic 1 Question 57 Discussion

Actual exam question for CIPS's L4M8 exam

Question #: 57
Topic #: 1

[All L4M8 Questions]

What is contract performance review and continuous improvement?

AExplanation:
Contract performance review and continuous improvement is the stage 11 of the CIPS procurement and supply cycle.
In order to effectively manage supplier performance and contractual obligations, the suppliers per-formance against key performance indicators (KPI) should be reviewed regularly. This KPI should have been agreed doing the post contract award negotiation. In addition to review KPIs suppliers and the procurement team should work towards continuous improvement. This is a continuous ef-fort to improve product or services within an organization. This may involve improving quality, reducing waste in the supply chain and focusing on innovation. It is an ongoing process that works toward perfection.

Show Suggested Answer

Suggested Answer: A

by Sanda at Apr 08, 2025, 04:09 PM

Limited Time Offer

25%

Off

Get Premium L4M8 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Carol

2 months ago

I agree, it's crucial for maintaining high standards and driving innovation within the organization.

upvoted 0 times

...

Garry

2 months ago

I like the emphasis on reducing waste and focusing on innovation. That's the kind of forward-thinking that can really give an organization an edge.

upvoted 0 times

Mitsue

17 days ago

Continuous improvement helps drive efficiency and effectiveness in procurement processes.

upvoted 0 times

...

Alberta

22 days ago

It's important to regularly review supplier performance to ensure they are meeting KPIs.

upvoted 0 times

...

Annice

24 days ago

I agree, continuous improvement is key to success in any organization.

upvoted 0 times

...

Luann

1 months ago

Yes, reducing waste and focusing on innovation is crucial for staying competitive.

upvoted 0 times

...

Hester

2 months ago

Yes, it helps in ensuring that suppliers are meeting their obligations and allows for continuous improvement in the procurement process.

upvoted 0 times

...

Adelle

2 months ago

Haha, continuous improvement, the never-ending quest for perfection. I guess we'll always have something to work on, but that's what keeps things interesting!

upvoted 0 times

...

Carol

2 months ago

Contract performance review and continuous improvement is important for supplier management.

upvoted 0 times

...

Sean

2 months ago

Absolutely! Continuous improvement is vital for staying competitive and meeting evolving customer needs. This stage is often overlooked but can yield significant benefits.

upvoted 0 times

Gearldine

2 months ago

Yes, it's important to regularly review supplier performance to ensure they are meeting our expectations.

upvoted 0 times

...

Rebecka

2 months ago

Contract performance review is essential for maintaining accountability and driving continuous improvement. I agree that regular KPI monitoring and a collaborative approach are key.

upvoted 0 times