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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 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 3	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 4	Understand the key processes that can be applied to the analysis of potential external suppliers:

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CIPS Ethical and Responsible Sourcing Sample Questions (Q148-Q153):

NEW QUESTION # 148
ABC Ltd works with supplier XYZ Ltd who uses a variety of subcontractors. ABC has recently learned of an ethical breach being committed by one of XYZ's subcontractors. What should ABC do?

A. Seek compensation
B. Research alternative suppliers
C. Terminate the contract
D. Recommend remedial action

Answer: D

Explanation:
ABC should do a 'root cause analysis' to find out where the issue has come about, and why. From there, once they know what the breach is and how serious it is, they can suggest corrective action.
They can't jump straight to terminating the contract or seeking damages as it's not the supplier itself but rather the subcontractor. Also that would be really hasty considering we don't know what the issue is and what the market conditions are like. That supplier may be the only one who can provide the product. We also don't know if the supplier knows about the issue themselves.

NEW QUESTION # 149
Which of the following payment mechanisms is most beneficial to the buyer?

A. open/ credit account
B. sight draft
C. term / time draft
D. cash in advance

Answer: A

Explanation:
Open account (aka credit account) is most beneficial to the buyer. The supplier delivers the goods then the buyer pays.
Cash in advance is most beneficial to the supplier. The buyer pays for the item before receiving it.
This is a known exam topic.

NEW QUESTION # 150
Which of the following would be a valid reason to make a product inhouse, rather than buy it from a supplier?

A. improved quality control
B. killset of supplier is higher
C. threat of substitutions
D. less inventory

Answer: A

Explanation:
One of the biggest advantages to making an item over buying it is 'improved quality control'.
When you make the product yourself, you can set the quality parameters you require and aren't re-stricted to, or dependant on, what the supplier does. The other options are incorrect- making stuff inhouse would mean you hold more inventory. If the supplier has a higher skillset than you, you would outsource. Threat of substitutions wouldn't impact this decision.
For a list of pros and cons relating to the 'make or buy' decision see p.5. This is a hot topic for the exam.

NEW QUESTION # 151
In which type of market would you be most likely to find a 'perfect competition'?

A. monopoly
B. oligopoly
C. commodity
D. monopolistic competition

Answer: B

Explanation:
An oligopoly. Perfect competition is a situation in a marketplace where there is plenty of competition. A monopoly or monopolistic competition would have 'imperfect competition'

NEW QUESTION # 152
What type of ratio is used to measure a company's ability to meet its short-term financial obligations, specifically focusing on its ability to convert assets into cash to cover current liabilities?

A. Earnings per share
B. Liquidity ratio
C. Profitability ratio
D. Dividend per share

Answer: B

Explanation:
Liquidity ratios, such as the current and quick ratios, evaluate a company's ability to meet short-term liabilities with current assets. This metric is crucial for assessing a supplier's financial stability, ensuring continuity and reliability in the supply chain, which aligns with ethical and responsible sourcing principles.

NEW QUESTION # 153
......

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Latest CIPS L4M4 Test Fee - Latest L4M4 Exam Materials

CIPS L4M4 Exam Syllabus Topics:

Ethical and Responsible Sourcing practice certkingdom dumps & L4M4 pdf training torrent

CIPS Ethical and Responsible Sourcing Sample Questions (Q148-Q153):

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