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CIPS Supplier Relationships (L4M6) Paper *4.
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1.
Kenpoly Ltd requires high-pressure aluminum die castings, which are both essential and costly for its operations. To manage this need, the company has created a cross-functional team to develop cost models for the project. These models must be reliable to predict scenarios, such as price fluctuations when sourcing from international suppliers or the feasibility of simplifying the design. The team uses accounting data to identify cost factors such as materials, labor, and overhead. Do they have a sound basis for their evaluation?
2.
PK Ltd, a global retail giant, aims to enter the Indian market but faces numerous regulatory barriers intended to protect local businesses. In light of these challenges, the company's senior managers are considering acquiring a local retailer. What are the potential benefits of this approach?
1. Gain the ability to lobby the government officials
2. Access to the restricted market
3. Gain the knowledge on local market
4. Increase the anxiety of the acquired company's employees
3.
Can we confidently declare that a partnership exists if both parties achieve their desired outcomes, such as improved cost efficiency or higher revenue, through collaboration?
4.
When evaluating supplier relationships, which of the following tools could help categorize the risk associated with each group?
1. Whole life costing (WLC)
2. Kraljic's matrix
3. RAQSCI model
4. Supplier preferencing model
5.
Michael Porter identified three primary competitive strategies: low cost, differentiation, and focus. Is it accurate to say that in the differentiation strategy, businesses aim to provide unique services to a specialized market segment?
6.
According to Mendelow’s matrix, if a stakeholder has significant power but little interest, the recommended approach is to "Keep Satisfied."
7.
The procurement manager’s thorough analysis of a contractor’s historical performance, market conditions, and external factors to anticipate potential risks aligns with the initial stages of business continuity planning. This activity falls under which phase of risk management?
8.
In the Kraljic matrix, procurement teams categorize products based on the risk associated with each. Which two criteria are considered when assessing the risk level for each quadrant?
9.
Is it accurate to say that a partnership is ideal for implementing the Just-In-Time (JIT) method?
10.
Senior management at Jotex Company is considering expanding into the Asian retail market but has concerns about its profitability. Which tool could they use to assess the profitability of the industry?
11.
Which three elements does the 'E' in the STEEPLE framework represent?
12.
A newly formed project team from various parts of the organization has worked together for three months. The team members now cooperate effectively, solving problems, making decisions, and following the team’s established rules. They rarely disagree, and when they do, the team manager resolves the conflict. Does this indicate the team is in the "performing" stage, according to Tuckman’s model of team development?
13.
Which processes contribute to continuous improvement in an organization? Select two applicable options:
14.
Bungoma Airlines’ goal is to make air travel both affordable and enjoyable, offering low fares, exceptional service, and quality comfort. The company ensures a pleasant flying experience with amenities like in-flight WiFi, touchscreen entertainment, and onboard meals. Which strategy does Virgin Airlines employ for a competitive edge?
15.
Can you identify an example of political factors within the STEEPLE framework?
16.
When should procurement professionals use the Kraljic portfolio matrix to categorize purchased items and establish supplier relationships?
17.
Before proceeding with their partnership, Balenciaga Ltd and Puma Ltd should address the procurement manager's concerns regarding fair benefit distribution. What approach should they adopt to resolve these concerns?
18.
How should procurement manage stakeholders resistant to a project or initiative?
19.
In what ways can procurement enhance the value of an organization? Select three relevant actions:
20.
As supplier-buyer relationships evolve from adversarial to collaborative, several changes occur. Which TWO of these changes are most significant?
21.
When evaluating tenders through a weighted scoring system, is price always the most important factor for a private sector organization in competitive bidding?
