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Derek is a Supply Chain Manager conducting a risk assessment. A supplier from 10,000 miles away could fail to deliver, and the risk is classified as major. Using a 1-5 scale for severity and likelihood, which score applies?
A. 0
B. 1
C. 2
D. 3
Answer: B
Explanation:
The correct score is 25, which is the highest possible risk score on a 1-5 scale. This reflects a major risk with both severity [5] and likelihood [5] rated as high. The risk assessment methodology multiplies these two factors [5 ¡Á 5 = 25] to produce a risk rating.
This scoring system enables supply chain managers to rank risks and prioritise mitigation strategies. A risk scored at 25 requires urgent attention, such as developing contingency plans, dual sourcing, increasing safety stock, or renegotiating terms with suppliers.
Lower scores such as 1, 5, or 10 indicate lower overall risk exposure, but in this case, the combination of long geographical distance, reliance on a low-cost country supplier, and criticality of the order elevates the risk to the maximum score.
Risk assessment tools like this are central to category management because they support proactive risk mitigation rather than reactive crisis management.
[Ref: CIPS L5M6 Study Guide, p.56 - Risk assessment scoring and protocols]
NEW QUESTION # 91
Caleb is completing a risk assessment on his supply chain using a matrix categorising risks on a scale of 1-5.
He identifies one risk with a score of 2. Which category of risk would this fall into?
A. Main
B. Moderate
C. Major
D. Minor
Answer: D
Explanation:
Risk assessments in procurement often use a likelihood ¡Á severity matrix. Risks are scored on scales from 1-
5, and the scores are multiplied. A score of 2 indicates a minor risk with low impact and/or low probability.
For comparison, risks with scores in the upper range (e.g., 20-25) are considered major risks that demand immediate mitigation. Minor risks, although not ignored, are often monitored rather than heavily resourced.
This structured approach ensures procurement teams focus resources on the most significant threats while still maintaining oversight of low-level risks. By categorising risks this way, category managers create clarity for decision-makers and align procurement risk management with enterprise-wide frameworks.
Reference: CIPS L5M6 Study Guide, p.56
NEW QUESTION # 92
What is the purpose of a Category Board?
A. To select the Category Manager
B. To develop and implement a category strategy
C. To mitigate all risks
D. To approve spending over a certain amount
Answer: B
Explanation:
A Category Board [sometimes called a Category Council or Committee] is a cross-functional group of stakeholders responsible for overseeing the development and implementation of a category strategy. It brings together representatives from procurement, finance, operations, and other relevant departments to ensure that sourcing decisions align with overall business objectives.
While boards may also review spending or risk, their main role is strategic governance. They provide input into category planning, approve strategies, resolve conflicts, and ensure stakeholder buy-in. This collaboration is essential, as category management is a cross-functional discipline that cannot succeed if procurement operates in isolation.
Options A and B are too narrow, while option D is unrealistic-no body can "mitigate all risks." Instead, the board ensures risks are recognised and addressed within the strategy.
The study guide highlights the importance of such structures in embedding category management within an organisation's governance framework.
[Ref: CIPS L5M6 Study Guide, pp.614 - Category Boards and governance in category management]
NEW QUESTION # 93
High exit barriers in a marketplace mean that rivalry between suppliers is low. Is this statement TRUE?
A. Yes - rivalry is low as supplier power is strong
B. No - high exit barriers mean no new suppliers will enter the marketplace
C. Yes - rivalry is low as buyer power is strong
D. No - rivalry between existing suppliers is high
Answer: D
Explanation:
The correct response is No - rivalry between existing suppliers is high. Exit barriers refer to the difficulty suppliers face when attempting to leave a market or industry. These barriers may include high investment in specialised assets, contractual obligations, redundancy costs, or reputational damage. When suppliers are unable or unwilling to exit, they remain within the industry regardless of declining profitability. This forces them to compete aggressively to retain market share, which increases rivalry among existing firms.
Options A and B are incorrect because the question relates to rivalry, not directly to buyer or supplier power.
Option D is also incorrect because exit barriers do not influence new suppliers entering; they affect current suppliers trying to leave.
A practical example is the oil and energy industry, where huge capital investments make it very costly to exit. Companies stay even during downturns, resulting in fierce rivalry.
[Ref: CIPS L5M6 Study Guide, p.114 - Porter's Five Forces: Exit Barriers and Rivalry]
NEW QUESTION # 94
Randoxx Ltd is a manufacturing company which has four main categories of expenditure:
* Category 1: The market of this category is highly innovative and has rapidly changed over the past five years. There are many suppliers who provide similar products at similar price points.
* Category 2: This category of spend is for highly specialised products and it is important to Randoxx that the products are carbon neutral. Because of this, there is a reduced number of suppliers who provide products to this category and Randoxx has little influence over the price that they pay.
* Category 3: This category of spend is for natural resources which are only found in very few parts of the world. Because of this Randoxx imports all of these items from one country abroad and currency fluctuations have a huge impact on the profit margin of this category spend.
* Category 4: This is a highly technical product which has a patent. It is used in the creation of laptops and phones and it would be impossible to make these with a different product. Due to the growing population Randoxx forecasts that demand for this product will increase.
Task:
Complete the table below by identifying each category's Porter's Force driver and STEEPLE factor challenge. Each response should be used only once. Answer:
Explanation:
Explanation:
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Category 1: Highly innovative, many suppliers with similar products at similar price points
* Porter's Force: Competitive Rivalry - High
* STEEPLE Factor: Technological
Explanation (150-200 words):
Category 1 operates in a market that is highly innovative and subject to rapid technological change.
Innovation means suppliers are constantly developing new features or solutions, making technology the primary STEEPLE factor. Additionally, because there are many suppliers offering similar products at similar price points, competitive rivalry is intense. Buyers can switch easily, and suppliers must compete aggressively on features, pricing, and differentiation.
This combination of high rivalry and technological change creates both opportunity and risk for Randoxx.
On one hand, innovation drives new solutions that can be leveraged; on the other hand, it increases pressure to manage supplier relationships strategically. Randoxx must monitor technological trends closely while maintaining competitive sourcing strategies to manage this highly dynamic category.
(Ref: CIPS L5M6 Study Guide - Porter's Five Forces, p.112-116; STEEPLED Analysis, p.109)
NEW QUESTION # 95
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