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CIPS L4M8 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Ethical and Sustainable Procurement | 15-20% | - Corporate Social Responsibility (CSR) - Ethical sourcing considerations - Environmental sustainability in procurement - Modern slavery and fair trade - Supply chain transparency |
| Topic 2: Practical Application Scenarios | 15-20% | - Case study analysis - Recommendation and justification skills - Applying theory to real-world procurement situations - Problem-solving and decision-making |
| Topic 3: Supplier Relationship Management | 20-25% | - Supplier performance measurement (KPI, scorecards) - Supplier development and improvement - Supplier relationship types - Partnership and collaboration models - Risk management in supplier relationships |
| Topic 4: Strategic Sourcing and Category Management | 20-25% | - Supplier segmentation and criticality analysis - Strategic sourcing process - Category segmentation - Spend analysis techniques |
| Topic 5: Procurement Process and Procedures | 25-30% | - Contract award criteria - Purchase ordering and goods receipt - Requirements gathering and specification - Procurement cycle stages - Supplier selection methods |
CIPS Procurement and Supply in Practice Sample Questions:
What potential costs could an organization face if it fails to conduct Due diligence effectively?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Though strong due diligence procurement professionals can assess which suppliers or potential suppliers appear to meet the criteria associated with ethical practice.
Prior to the contract being awarded, strong due diligence can save the organization from the following cost:
1) Cost of reputation
2) Environmental damage
3) Stakeholders dissatisfaction,
4) poor quality and rework
5) Breach of contract
6) Ethical concerns
What is needed for a contract to be binding?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
A contract is written or verbal agreement, made between two or more parties that is legally enforceable. For a contract to be legally binding it must include intention of parties entering into the contracts. All parties must have the capacity to contract or be contracted. They must be of a sound mind, there should be a promise (offer) for per-formance from the other party and an exchange (consideration) of one thing for another within an agreement for contract to be binding, and there must be an acceptance of the offeror's offer by the offeree.
Explain which factors should be considered when deciding the quantity of a product to order.
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
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.
* Refer to the question column for response
What Incoterm applies here?
The supplier is responsible of placing the goods in the hands of a chosen carrier by the buyer, at which point the buyer takes on the risk.
- A. CIP - Carriage and Insurance Paid to
- B. CPT - Carriage Paid To
- C. FCA - Free Career
- D. EXW - Ex Works
Correct Answer: C 🗳️
Which contract term contains details of when a product or service should be delivered and ex-plained the potential loss of business?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Contract terms are the right and duties agreed between parties with which are then documented in contract.
Terms can be either implied or expression.
Implied terms are always present in a contract and are set by national laws; like the sales of goods act, whereas express terms are negotiated and created, for example; time is of the essence. When the procurement professional is setting key performance indicators, where which the supplier's performance will be monitored and managed, the KPI is expected to be SMART. The SMART is an acronym that is used to set KPI and specification. It means:
Specific
Measurable
Achievable
Relevant
Time bound
* Refer to the question column for response
