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100% Pass L4M4 - Efficient Ethical and Responsible Sourcing Pass Rate

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CIPS L4M4 Exam Syllabus Topics:

Topic
Details

Topic 1

This section examines analyzing market data, obtaining quotations
tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.

Topic 2

Understand compliance issues when sourcing from suppliers: It explores legislative, regulatory, and organizational requirements for sourcing. It compares the use of audit and other mechanism of feedback.

Topic 3

Understand options for sourcing requirements from suppliers: This section covers the sourcing process, approaches, options, and award criteria for obtaining requirements from suppliers. The sub-topics provide a foundation for strategic sourcing.

Topic 4

Understand the key processes that can be applied to the analysis of potential external suppliers:

CIPS Ethical and Responsible Sourcing Sample Questions (Q43-Q48):

NEW QUESTION # 43
Faisal is a medical equipment maintenance services procurement specialist within a local hospital. Faisal is responsible for ensuring contracts are in place that will ensure operational continuity of high-value pieces such as radiology equipment. When carrying out tender opportunities for these services, Faisal will specify, as an essential requirement, that certain standards are adhered to. Which of the following is a benefit of incorporating standards as a requirement within a specification?

A. Standards will ensure low pricing is submitted in the tender response
B. Standards will mirror the buyer's requirements in its entirety
C. Standards will ensure suppliers meet all the buyer's requirements
D. Standards provide clear guidelines and remove the risk of ambiguity

Answer: D

Explanation:
Incorporating standards within specifications provides clear guidelines for suppliers, reducing ambiguity and helping ensure consistency in quality and performance. This aligns with ethical and responsible sourcing practices by promoting transparency and setting consistent expectations for suppliers.

NEW QUESTION # 44
Ivan is an investor who is looking to invest in new businesses. He is reviewing several companies and working out what his equity would be. Which of the following does Ivan need to know to calculate shareholder equity?
Select TWO.

A. total liabilities
B. net income
C. total assets
D. net profit

Answer: A,C

Explanation:
Shareholder Equity = Total Assets - Total Liabilities

NEW QUESTION # 45
For complex and high value tenders, which document is the most appropriate to send to those suppliers who have already been appraised and deemed suitable?

A. PQQ
B. ITT
C. RFT
D. RFQ

Answer: B

Explanation:
The correct answer is Invitation to Tender. This is sent out to suitable suppliers inviting them to bidfor the opportunity.
A PQQ - pre-qualification questions naire- is sent to suppliers to see if they are suitable. The question states these suppliers have already been deemed suitable, so they've already passed PQQ A RFQ - request for quotation- would be used when the only variable is price, so is not suitable for complex tenders.
RFT isn't a thing. I made the last one up.

NEW QUESTION # 46
When might a company send a Request for Information (RFI) to a supplier instead of a Request for Quotation (RFQ)? Select TWO that apply:

A. To establish the details of environmental and quality certificates that the supplier may have
B. To negotiate the payment terms detailed in the terms and conditions of sale
C. To ask for the details of the product or the range of services that the supplier has to offer
D. To determine whether the supplier is able to fulfill a purchase order that has already been placed
E. To obtain indicative prices that could be offered for a range of required products

Answer: A,C,D,E

Explanation:
A Request for Information (RFI) is utilized during the early stages of the procurement process to gather general information about potential suppliers' capabilities, products, or services. It helps in understanding the market and narrowing down supplier options before moving to more detailed requests like RFQs or RFPs.
* Option B:Obtaining indicative prices helps in budgeting and understanding market rates.
* Option C:Gathering details about products or services allows the buyer to assess the supplier's offerings and suitability.
Options A, D, and E are more appropriate for later stages in the procurement process, such as during RFQs or contract negotiations.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 2.1: Sourcing and Contracting Process

NEW QUESTION # 47
As a procurement officer for a large organisation, a supplier approaches you on social media offering to take you out for dinner to discuss a recent open opportunity and mentions a financial reward if you help them win the business. You accept the invite. Was this the right thing to do?

A. No, but you will go for the dinner and see what they offer, because it is up to you to decide if you should accept
B. No, it is not appropriate to discuss open opportunities with one provider and not another
C. Yes, you are free to do what you like outside of business hours
D. Yes, you are keen to see what is on offer as you are only on minimum wage currently and need extra money

Answer: B

Explanation:
Accepting an invitation under such circumstances would violate ethical standards, as it could create a conflict of interest. Ethical sourcing and procurement practices require impartiality, and any perceived favoritism or bias can harm the organisation's integrity.

NEW QUESTION # 48
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