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[General] Three Formats for CIPS L5M7 Practice Tests CramPDF Exam Prep Solutions

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【General】 Three Formats for CIPS L5M7 Practice Tests CramPDF Exam Prep Solutions

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CIPS L5M7 Exam Syllabus Topics:
TopicDetails
Topic 1
  • Understand Improvement Methodologies that Can Be Used in Supply Chains: This section of the exam measures the skills of Procurement Managers and focuses on the tools and methodologies used to enhance supply chain performance and efficiency. It highlights the principles of total quality management (TQM), including quality assurance and inspection, and their role in ensuring product and process consistency. Candidates must understand how to use statistical methods such as KPIs, data analysis, and Six Sigma to drive continuous improvement. The section also explores lean thinking, agile processes, Just-in-Time (JIT) systems, and the 5S methodology as frameworks for optimizing operations. Furthermore, it covers the application of business process re-engineering (BPR) and benchmarking to evaluate and redesign supply processes for better performance and competitiveness.
Topic 2
  • Understand Measures Required to Achieve Competitive Advantage in Supply Chains: This section of the exam measures the skills of Strategic Sourcing Specialists and focuses on achieving and maintaining competitive advantage through strategic supply chain practices. It assesses knowledge of how organizations can leverage cost leadership or differentiation strategies to outperform competitors. Candidates are expected to understand pricing mechanisms such as fixed and variable pricing, open book costing, and risk
  • reward arrangements that drive efficiency and transparency. The section also includes cost reduction techniques like supplier rationalization, value analysis, and negotiation strategies that enhance profitability. Finally, it examines collaborative approaches such as partnership sourcing, building supplier trust, and managing relationship life cycles to ensure long-term strategic advantages within the supply chain.
Topic 3
  • Understand the Dynamics of Supply Chains: This section of the exam measures the skills of Supply Chain Analysts and covers the foundational understanding of how supply chains operate, interact, and add value to organizations. It examines the differences between supply chains, supply networks, and supply chain management while exploring the concept of supplier tiering and network sourcing. Candidates are expected to understand how effective supply chain management improves quality, reduces costs and lead times, and fosters innovation while mitigating risks. Additionally, this section emphasizes the connection between an organizational infrastructure, culture, and process management in achieving efficient supply chains. It also compares various improvement approaches, including collaborative and competitive models, outsourcing, offshoring, and global procurement.

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CIPS Achieving Competitive Advantage Through the Supply Chain (L5M7) Sample Questions (Q52-Q57):NEW QUESTION # 52
Which of the following is an example ofVariable Pricing?
  • A. A cleaning firm charges more when demand increases.
  • B. A restaurant offers student discounts.
  • C. A retailer holds a January sale.
  • D. A wholesaler offers a discount when a customer buys more than 100 units.
Answer: D
Explanation:
Variable Pricingchanges the unit price based onquantity purchased; larger volumes trigger discounts.
Short cited term: "price varies with quantity ordered." (L5M7 Study Guide, pp. 188-191) Reference:CIPS L5M7 Study Guide, pp. 188-191.

NEW QUESTION # 53
Jerry works in product development at a clothing manufacturer. The company is discussing ways of adding value for customers. Jerry suggestsreducing pricescould be a form of added value. Is he correct?
  • A. Yes - this is a form of added value but requires the ability of the supply chain to reduce costs.
  • B. Yes - this will increase the company's profit margin.
  • C. No - added value is only a form of innovation.
  • D. No - as the customer is not offered anything additional to their purchase.
Answer: A
Explanation:
Added Valuearises whenever the customer perceives extra benefit.Lowering pricescan add value if the supply chain reduces coststo support it sustainably.
Short cited term: "price reduction is a form of added value if supported by cost efficiencies." (L5M7 Study Guide, p. 35) Reference:CIPS L5M7 Study Guide, p. 35.

NEW QUESTION # 54
Where two organisations atdifferent levelsof the supply chain share responsibilities, resources, and performance information to serve similar end customers, what is this known as?
  • A. Tight supply chain collaboration
  • B. Horizontal collaboration
  • C. Loose supply chain collaboration
  • D. Vertical collaboration
Answer: D
Explanation:
Vertical collaborationoccursbetween different tiers(e.g., buyer-supplier) to coordinate capabilities for customer value. Short cited term: "vertical collaboration ... different levels/tiers" (L5M7 Study Guide, p.90).
Reference:CIPS L5M7 Study Guide, p.90.

NEW QUESTION # 55
When analysing a series of data, the number which occurs most frequently is known as what?
  • A. Mean
  • B. Mode
  • C. Average
  • D. Median
Answer: B
Explanation:
TheModeis the value thatappears most oftenin a dataset, distinguishing it from themean(average) and median(middle value).
Short cited term: "mode = most frequent value." (L5M7 Study Guide, p. 149) Reference:CIPS L5M7 Study Guide, p. 149.

NEW QUESTION # 56
Within the supply chain, which of the following isnot considered a 'flow'?
  • A. Information flow
  • B. Decision flow
  • C. Financial flow
  • D. Materials flow
Answer: B
Explanation:
Supply chains are characterised bythree primary flows- materials, information, and finance. "Decision flow" is not a recognised category.
Short cited term: "three main flows: material, information, finance." (L5M7 Study Guide, p. 155) Reference:CIPS L5M7 Study Guide, p. 155.

NEW QUESTION # 57
......
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