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CIPS L3M2 Exam
Free CIPS L3M2 Exam Actual Questions
Note: Premium Questions for L3M2 were last updated On May. 10, 2024 (see below)
Accurate specification of requirements along with suitable-chosen quality standards is most likely to influence which of the five Rights?
Quality.
Specification is fundamental to receiving the right quality.
Standards can be seen as a form of specification intended for recurrent use (Lysons)
'Sometimes descriptions of the need are best created by a cross-XXXX team'. What does XXXX represent here?
Cross-functional.
That is, drawn from a number of functions, or departments, within an organisation.
The letters 'EOQ' refer to:
The Economic Order Quantity is a formula which attempts to calculate the most efficient quantity to order at any given time, by attempting to reconcile the cost of stockholding and the cost of plac-ing an order. This could then have implications for the timing of an order being placed.
The cost of holding stock can be reasonably accurately calculated and agreed with one's peers. However, determining the cost of placing an order can keep colleagues up late into the night, and can be a great topic to liven up a sleepy procurement / finance function.
In developed economies such as the European Union and North America, there is no forced labour (modern slavery) in supply chains. True or false?
The statement is false.
CIPS actively campaigns against modern slavery anywhere in the world.
'I'm not really well up on ethics within organisations, especially within procurement. Where can I find some really good quality up-to-date information about ethics?' Choose one.
CIPS is keenly interested in procurement ethics, and you can find a wealth of information on the CIPS website as well as other CIPS publications, such as Supply Management magazine.
CIPS members are also encouraged to undertake the ethical training and test, also available online via the CIPS website.
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