CIPS L4M8 Exam

Name: CIPS L4M8 Exam
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SKU: L4M8
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Exam Name: Procurement and Supply in Practice

Exam Code: L4M8

Related Certification(s): CIPS Level 4 Diploma in Procurement and Supply Certification

Certification Provider: CIPS

Number of L4M8 practice questions in our database: 104 (updated: May. 10, 2024)

Expected L4M8 Exam Topics, as suggested by CIPS :

Topic 1: Demonstrate the application of the procurement cycle/ Market analysis and testing
Topic 2: Supplier evaluation/ Tendering processes/ Supplier and stakeholder management/ Defining business need Demonstrate the application of the key stages of the sourcing process/ Creation of contract terms
Topic 3: Stages of the sourcing process/ Contract award/ Supplier selection/ Contract or supplier management
Topic 4: Demonstrate the application of whole life assetmanagement/ Ensure senior management support
Topic 5: Cross functional support ? ensure access to data/ Legal aspects ? waste management
Topic 6: Hidden costs ? global sourcing, risks associated with extended supply chain/ Removal or disposal processes
Topic 7: Include all costs ? purchase price through to disposal and end-of-life/ Only develop for larger purchases
Topic 8: Team working ? reduce data collection time/ Decommissioning
Topic 9: Demonstrate the application of ethical and responsible sourcing within an organisation/ Environmental factors
Topic 10: Expand reporting frameworks to include ecological and social performance/ Ethical codes of practice
Topic 11: Adopt sustainable practices, standards and specifications in the supply chain/ Application of the CIPS Code of Conduct
Topic 12: Consider the social impact of the organisation?s behaviours/ Bribery, Corruption, Fraud, Human rights, Modern slavery
Topic 13: Supporting information on ethical practices in supplier quotations and tenders/ Supplier monitoring and KPIs

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Free CIPS L4M8 Exam Actual Questions

Note: Premium Questions for L4M8 were last updated On May. 10, 2024 (see below)

Question #1

What effect is technology having on jobs within an organization with which you are familiar with?

AExplanation:
With the ever developing use of technology, organizations are often under pressure to keep up with numerous technological advances. Jobs could be created in line with technology. Advances in technology can also results in lack of requirement for human impact and as such, jobs could be lost. Though it can help save time and retain bulk files in no space.

Reveal Solution

Correct Answer: A

Question #2

Research the ethical standard or accreditations of an industry with which you are familiar

AExplanation:
If a supplier is accredited or is a member of an association that promotes good ethical conduct, a statement to this effect is likely to be featured on its company documentation. This could be in a form of letters after the organization name or the authorized use of logo.
Accreditation information should be verified by procurement professionals either asking organiza-tion for certification to prove membership or accreditation or checking on a professional register.
Below are associated bodies that form some industries.
1. ISO 14001 -- for quality management
2. CIPS -- for procurement and Supply
3. Red Tractor -- NGO Registered in the UK, promoting human right
4. Amnesty International -- human right
5. Carbon Trust -- For Carbon neutral status.

Reveal Solution

Correct Answer: A

Question #3

What is the method of monitoring suppliers?

AExplanation:
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.

Reveal Solution

Correct Answer: A

Question #4

What are the ILO and ETI?

AExplanation:
ILO stands for International Labour Organization- It is a United Nations agency whose mandate is to advance justice and promote decent work by setting international labor standard.
ETI is Ethical Trading Initiative: It is a leading alliance of companies, trade unions and NGOs that promote respect for workers right around the globe. Its vision is a world where all workers are free from exploitation and discrimination and enjoys condition of freedom, security and equity.

Reveal Solution

Correct Answer: A

Question #5

Research the ethical standard or accreditation of an industry with which you are familiar.

Reveal Solution

Correct Answer: A

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