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CIPS L4M8 (Procurement and Supply in Practice) Certification Exam is an essential qualification for anyone looking to pursue a career in procurement and supply chain management. Procurement and Supply in Practice certification is recognized internationally and provides candidates with the necessary skills and knowledge to succeed in this field. Passing the CIPS L4M8 Exam demonstrates a candidate's commitment to professional development and their ability to apply best practices in procurement and supply chain management.

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CIPS L4M8 certification exam is designed to assess the knowledge and skills of procurement and supply professionals. Procurement and Supply in Practice certification is ideal for individuals who are looking to advance their careers in procurement and supply chain management. L4M8 Exam covers a wide range of topics, including procurement processes, contract management, supplier relationship management, and risk management.

CIPS Procurement and Supply in Practice Sample Questions (Q85-Q90):

NEW QUESTION # 85
Explain which factors should be considered when deciding the quantity of a product to order.

Answer:

Explanation:
When reviewing supplier's response the procurement professional should consider the right quantity of product or service that has to be ordered at anytime as against the price to decide how to gain the best cost.
Factors to consider include the following
(1)Cost of inventory
(2) cost of insurance
(3) cost of transportation.
These three should be considered against price.
Note: Incoterms are versatile and procurement professionals should understand how they are ap-plied and what point the risk transfers from being the supplier's responsibility to being the buyer's responsibility. It is important to consult the ICC for the most recent definitions, but in the following questions (101-111) you can understand the rules.
Note: sharpen your knowledge on INCOTERMS. Please consider the following Objective Re-sponse questions

 

NEW QUESTION # 86
Why is it important to have adequate procedures in place within an organization in relation to bribery?

Answer:

Explanation:
Bribery is the act of giving someone something of value to persuade them to do something that benefits you. Ethical and responsible sourcing requires conducting due diligence on bribery before going into contractual relationship because failure to this might lead to loss in reputation.
In other for an organization to defend itself against a case of suspected bribery, the United Kingdom bribery Act introduced in 2010 suggests that organizations should have adequate procedures' in place.
The following are six procedures an organization should have in place to be able to defend itself against bribery
1) Proportionate procedure
2) Top level commitment
3) risk assessment
4) due diligence
5) communication
6) monitoring and reviewing

 

NEW QUESTION # 87
Which Incoterm applies here?
The supplier is responsible for delivering the goods directly onto the vessel that will transport them to their named destination and must also cover the cost of this. The supplier bears all risks until the goods are delivered to the buyer at their named place.

  • A. DAP - Cost and Freight
  • B. FOB - Free On Board
  • C. CIF - Cost Insurance and Freight
  • D. AS - Free Alongside Ship

Answer: A

 

NEW QUESTION # 88
What is Iso 14001?

Answer:

Explanation:
14001 set out as international standards for an environmental management system.

 

NEW QUESTION # 89
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 # 90
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