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CIPS-Ethical and Responsible Sourcing L4M4 Paper 15.
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2.
What are the two types of sourcing?
3.
Specification is defined as a detailed description of the product or service required.
4.
According to Novacic and Simco’s sourcing process, which stage is incorrect?
5.
Which stages occur after the contract has been awarded in the procurement cycle?
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Understand the need
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Supplier selection
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Supplier management
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Assets management
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Market analysis
6.
The make-or-buy decision determines whether a product or service should be produced internally or sourced externally. Which factors should influence this decision?(Select all that apply)
7.
Porter’s five forces model includes which incorrect element?
8.
Which of the following correctly provide more detailed explanations of two categories in the Kraljic Portfolio Matrix?
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Non-critical — Low profit impact, low supply risk. Arm’s length.
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Bottleneck — Low profit impact, high supply risk. Close management.
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Non-critical — High profit impact, low supply risk. Transactional.
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Bottleneck — High profit impact, high supply risk. Collaboration.
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Leverage — High profit impact, low supply risk. Competitive sourcing.
9.
Outsourcing core functions is generally considered:
10.
Is insourcing defined as bringing a previously outsourced function back in-house?
11.
What best characterizes a “retain in-house” sourcing strategy?
12.
What characterizes outsourcing?
13.
Which model is used by procurement professionals to assess a supplier’s capability, reliability, and suitability before awarding a contract?
14.
KPIs and SLAs are used to measure contractor performance.
15.
What are the risks associated with outsourcing?(Select all that apply)
16.
Are low-cost countries defined as those with slow-growing economies and significantly lower wages compared to wealthier economies?
17.
Under which circumstance is a single sourcing approach typically used?
18.
Which is NOT an advantage of single sourcing?
19.
Which stage is not part of the generic tendering process?
20.
Which of the following is not a valid approach to tendering?
21.
Different negotiating styles result in different outcomes. Which is incorrect?
22.
Is centralized procurement defined as procurement being handled by a dedicated function for the entire organization, often from a centralized location?
23.
Offshoring refers to relocating business functions, usually operations, to another country to reduce costs.
24.
Which of the following is NOT a benefit of international sourcing?
25.
Letter of credit is document issued from one bank to supplier as a guarantee of the payment against agreed terms and conditions, including the presentation of complient document.
26.
Intercoms is International Commercial terms of sale that assign costs and responsibilities between the buyer and seller when delivering products
27.
Lead times are increased with the domestic sourcing.
28.
Transfer of ownership is the moment when the title of goods shifts from one party to another.
29.
There are two types of specification: outcome-focused and conformance.
30.
The Kaizen philosophy is based on continuously improving processes to eliminate waste and enhance quality.
