Bundle for CIPS exam 2023 update/verified

CIPS Level 4 Module 1 questions and answers 2023The Purchasing process 1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Follow up Definition of Procurement & Supply recognition of the fact that the purchasing function has a role ...

CIPS L4M8 questions with complete solutions 2023Stage 13: Assest management/end of life The procurement professional should evaluate whether the need is still current. If it is and unchanged, the procurement cycle process commences again but from a different stage as the need is already known and u...

CIPS L4M1 questions with complete solutions 2023Stakeholders In any activity an organization undertakes, whether strategic, operational or tactical, the activity can only be successful with the input, commitment and support of its key stakeholders. Gaining and maintaining the support and commitment...

L4M3 - CIPS: Commercial Contracting questions and answers 2023Ad-Hoc Purchase An item bought for a single and non-recurring use or purpose Alternative Dispute Resolution (ADR) Any method of resolving a dispute between two parties which does not involve court action, including escalation to ...

CIPS L4M2 Defining Business Need questions correctly answered 2023Types of Purchases new buy, straight rebuy, modified rebuy Straight rebuy purchase Routine purchases of the same products under approximately the same terms of sale Modified rebuy purchase When new-task purchases are ...

CIPS L4M1 Scope and Influence of Procurement and Supply correctly answered 2023What is Procurement? Procurement is a STRATEGIC function of a business obtains something Tangible as goods or Intangible as services. Include Purchasing Inventory, Logistics, Supply, Waste Management Quality, Cost, Added...

CIPS L4M4 Ethical and Responsible Sourcing graded A+ 2023What are the two types of sourcing? Tactical/Operational & Strategic What is tactical sourcing? Low level sourcing for low risk or routine items What is strategic sourcing? High level sourcing for core products or services ...

CIPS L4M2 2.1 Analyses different markets rated A+ to passFactors to analyse in different segments (5) 1 Objectives 2 Drivers 3 Governance 4 Ownership 5 Commodity/non commodity Different segments types (4) Product or service Buyers Distribution Geography 6 types of markets C...

CIPS L6M8 - Innovation in Procurement and Supply graded A+ 2023Supply chain integration Supply chain integration requires the procurement professional to develop strategic collaboration with key supply chain partners and understand customer requirements. Behaviours to enhance innovation Pel...

L4M2 - CIPS: Defining Business Need with correct answers 2023Acceptance Testing A form of testing used to determine if the requirements of a specification or contract are met Accrual An adjustment made to a set of financial accounts to reflect activity that has occurred but for which cash h...

CIPS L4M8 Chapter 2 questions and answers latest 2023Sourcing involves identifying and vetting those suppliers who are able to supply the product or service, as required in a specification from a procurement professional Different stages of Ordering - User need - Raise requisition - Appro...

CIPS L4M7 Whole Life Asset Management questions with complete solutions 2023Causes of Obsolescence Technical Change Cultural Change Legislation 2D Barcode Types of Stock Opening Stock Raw Materials Secondary Components Work in Progress Finished Goods Safety/Buffer Stock Stock...

CIPS L4M7 Whole Life Asset Management questions with answers 2023Types of Stock Opening Stock Raw Materials Secondary Components Work in Progress Finished Goods Safety/Buffer Stock Stockout Causes of Obselence Technical Change Cultural Change Legislation Causes of Redundancy ...

CIPS L4M2 Defining Business Need questions with answers 2023 rated A+Fixed Cost (FC) Costs that remain the same irrespective of business activity or volume Variable Cost (VC) Costs that vary with the level of output Market Factors Objectives Drivers Governance Ownership Commodit...