L4M1 - CIPS: SCOPE AND INFLUENCE OF PROCUREMENT AND SUPPLY EXAM REVIEW 100% PASS QUESTIONS WITH DETAILED ANSWERS | A+ GRADE ASSURED // LATEST
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Module
CIPS
Institution
CIPS
Artificial Intelligence (AI) - ANS Machines that display human-like intelligence
Assets - ANS The value of everything an organization owns
Audit - ANS A systematic inspection of a process or procedure to assess compliance with requirements or regulations
Batch Quantity - ANS Amount...
L4M1 - CIPS: SCOPE AND
INFLUENCE OF
PROCUREMENT AND
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SUPPLY EXAM REVIEW
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100% PASS QUESTIONS
WITH DETAILED
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ANSWERS | A+ GRADE
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ASSURED // LATEST
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, Artificial Intelligence (AI) - ANS Machines that display human-like intelligence
Assets - ANS The value of everything an organization owns
Audit - ANS A systematic inspection of a process or procedure to assess compliance with
requirements or regulations
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Batch Quantity - ANS Amount of products produced at a time
Benchmark - ANS Compare an element of one business, such as price, quality or service,
against another
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Bid - ANS Offer of a price, may be a response to an invitation to tender
Brand - ANS The image of an organization. The name, logo, slogan, colors, etc., that
differentiate it from the competition
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Budget - ANS Financial plan for a set period of time on how much can be spent
Buffer Stock - ANS The amount of stock held as inventory at any time in addition to immediate
requirements
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Capital Asset - ANS Tangible, non-current (or fixed) assets
Carriage Deals - ANS Negotiations to achieve the best possible cost
Centralised Structure - ANS Activities carried out at one central location
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Charity - ANS A not-for-profit organization with the objective of raising awareness or helping its
chosen cause
Cloud Computing - ANS The delivery of IT services such as storage and networking which are
hosted by a third party and accessed over the internet
Co-Operative - ANS A people-centered enterprise owned and run by and for its members,
which either reinvests any profits or returns them to its members
Code of Ethics - ANS A document detailing acceptable behavior within an organization
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