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Quiz High-quality CIPS - L5M5 - Managing Ethical Procurement and Supply (L5M5) Latest Test ExperienceIf you want to pass your exam just one time, then we will be your best choice. L5M5 questions and answers are edited by professional experts, and they have the professional knowledge in this field, therefore L5M5 exam materials are high-quality. In addition, L5M5 training materials contain most of the knowledge point for the exam, and you can have a good command of the exam dumps as well as improve your professional ability in the process of learning. You can also obtain the download link and password within ten minutes for L5M5 Exam Dumps, so you can start your learning immediately. CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q41-Q46):NEW QUESTION # 41
A procurement team runs a tender for new office furniture, prioritising cost. What is the main risk of this approach?
A. Not receiving any bids
B. Suppliers may sacrifice sustainability agenda
C. Rushed tender process
D. Receiving too many bids
Answer: B
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Documents:
When cost is the overriding priority, suppliers may compromise on sustainability. The L5M5 study guide explains that cheap materials may be unsustainably sourced (e.g., timber from non-certified forests). This is particularly highlighted in the old syllabus under LO 3.4, which noted risks when cost or speed is prioritised over ESG. Procurement professionals must balance cost, quality, speed, and sustainability to avoid reputational damage and unethical practices. Focusing solely on cost undermines long-term ESG commitments.
Reference: Managing Ethical Procurement and Supply (L5M5) Study Guide, section on sustainability vs cost priorities
NEW QUESTION # 42
Automation Avenue, a manufacturing company, is struggling with production defects and high waste levels, affecting both quality and costs. To tackle these issues, they aim to adopt a systematic approach to enhance processes and reduce variability. Which methodology would be most effective in addressing defects and improving process quality?
A. Six Sigma
B. Both Six Sigma and ISO 14001
C. WEEE Certificate
D. ISO 14001
Answer: A
Explanation:
Choice A- Six Sigma is specifically designed to improve process quality, reduce defects and enhance efficiency. Thus this is the answer.
Incorrect answer:
Choice B- While ISO 14001 focuses on environmental management and sustainability, it does not directly address process improvement or defect reduction in the same way that Six Sigma does.
Choice C- Integrating both methodologies could provide comprehensive benefits, as Six Sigma can directly address process improvement and defect reduction, while ISO 14001 can enhance environmental performance and compliance. However, if the primary goal is to tackle defects and improve quality, Six Sigma would be the more immediate choice. Using both together can be beneficial for a holistic approach to quality and sustainability.
Choice D- WEEE (Waste Electrical and Electronic Equipment) certification pertains to the recycling and management of electronic waste. It focuses on environmental compliance regarding e-waste and does not address process quality or defect reduction directly. While important for environmental responsibilities, it is not relevant to the company's current challenges related to production defects.
Reference:
LO-1.1; Page 14-15; The role of environmental considerations in securing ethical and sustainable procurement and supply arrangements
NEW QUESTION # 43
Patrick, a Category Manager, is procuring a high-cost item with many suppliers available and low switching costs. According to the Kraljic Matrix, what type of supplier is this?
A. Strategic
B. Bottleneck
C. Routine
D. Leverage
Answer: D
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Documents:
In the Kraljic Matrix, leverage items are high value but have many suppliers and low switching costs. The L5M5 study guide (old p.108, new p.154) explains that buyers have strong negotiation power in leverage situations and can achieve cost savings without high risk. Bottleneck items (B) are low-value but high-risk due to limited suppliers, routine items (C) are low-value and low-risk, and strategic items (D) are high-value and high-risk. Procurement professionals must use leverage strategically to maximise value.
Reference: Managing Ethical Procurement and Supply (L5M5) Study Guide, p.154
NEW QUESTION # 44
Which of the following is an example where long-term availability of supplies is prioritized over short-term gains?
A. Choosing a new supplier that is initially more expensive than others in the market to expand the supply base and develop market capacity
B. Selling products manufactured to lower quality standards, resulting in lower unit prices
C. Cutting costs in the short term, ultimately leading to a reduced range and variety of suppliers in the market
D. Reducing quality standards in the short term, accepting that customer rejections will increase in the long term
Answer: A
Explanation:
Choice C- Using a new supplier that is more expensive in the short-term than others in the market, to expand the supply base and to develop capacity in the market is an example of where long-term availability of supplies would be more important than short-term gains. This decision focuses on building relationships and capacity for the future, prioritizing sustainability over immediate cost savings. This is the correct answer.
Incorrect answer:
It is important to consider the broader concept of supply chain management when weighing up short term commercial benefits vs long term availability.
Choice A and B- Lowering quality in every aspect leads to a customer rejects and negative brand publicity. There will be no long term supplies required as customers won't buy the product.
Choice D- Variety reduction involves reducing the number of different solutions used to fulfil the same need. When considering developing a procurement strategy for a new category, it is common to find that there is a variety of different standards and solutions employed across an organization to fulfil broadly the same need. The solution is not sustainable.
Reference:
LO-1.4; Page 114-116; Short term commercial gains and long term availability
NEW QUESTION # 45
A global aerospace manufacturer collaborates closely with a supplier to develop a highly specialized component requiring advanced technical expertise and customization. The supplier invests significant resources in co-designing and producing the component to meet the manufacturer's specific requirements. This partnership is built on strong relationships and mutual commitment.
Which type of relationship on the CIPS relationship spectrum best describes this scenario?
A. Bespoke
B. Partnership
C. Moderate
D. Transactional
Answer: A
Explanation:
Option D- Bespoke relationships are characterized by a tailored approach, close collaboration, shared risk, and trust to deliver unique and specific solutions. The scenario describes significant customization and co-development, which are hallmarks of a bespoke relationship.
Incorrect answer:
Option A- Transactional relationships are arms-length, low-commitment relationships where the focus is on individual purchases, cost, and efficiency rather than collaboration. The scenario involves high collaboration, customization, and long-term commitment, which are not characteristics of a transactional relationship.
Option B- Moderate relationships sit in the middle of the spectrum, involving more interaction and coordination than transactional relationships but less collaboration than strategic or bespoke relationships. The scenario exceeds moderate collaboration and requires significant resources, expertise, and trust, which align with bespoke relationships.
Option C- Partnership describes a collaborative working relationship but lacks specificity. It does not explicitly account for the high customization and tailored solutions detailed in this scenario. While "partnership" implies collaboration, the CIPS relationship spectrum uses "bespoke" to specifically describe high customization and co-design relationships.
Reference:
LO-2.1; Page 152-153; Mapping supply chains to achieve supply chain transparency
NEW QUESTION # 46
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