CIPS Quiz- Questions and Answers 100% Pass
Capability Correct Ans-The ability of a supplier to meet an organisation's specific business
requirements
Capacity Correct Ans-The output of a busines
Capability Correct Ans-The ability of a supplier to meet an organisation's specific business
requirements
Capacity Correct Ans-The output of a business
Cash flow Correct Ans-The net amount of cash received and spent by an organisation in a
given period of time
Change management Correct Ans-The process, tools and techniques for dealing with the
people aspect of change to achieve the business outcome required
Collaborative agreement Correct Ans-This is a long-term agreement between a buying
organisation and a selling organisation which sets out how each party proposes to share
information, costs, risks and results by working together on a product or service
Company annual reports Correct Ans-Reports released once a year as a way of
communicating with shareholders about the performance of a company
Competitive assessment/ 'teardown' Correct Ans-The act of disassembling a competitor's
or supplier's product into its component parts so that its costs can be estimated
, CIPS Quiz- Questions and Answers 100% Pass
Competitive bids Correct Ans-Suppliers' submissions in the process y which an
organisation selects from a number of competing suppliers to award a contract
Consumer markets Correct Ans-A marketplace involving individual consumers rather than
businesses or companies
Continuous improvement Correct Ans-The ongoing activities involved in improving a
process product or service
Corporate goals Correct Ans-The targets set by an organisation or company that will
achieve the organisation's mission or objectives
Cost estimating Correct Ans-The process for arriving at the approximate cost of a product
or service
Cost leadership Correct Ans-A strategy used by businesses in order to gain a competitive
advantage by having the lowest cost of a product or service
Cost-down approach Correct Ans-The reduction of a cost in the manufacture of a product
or the delivery of a service by means of changing an item in the specification
Cost-out approach Correct Ans-The elimination of a cost in the manufacture of a product
or the delivery of a service by means of removing an item from the specification
, CIPS Quiz- Questions and Answers 100% Pass
Acceptance testing Correct Ans-A form of testing used to determine if the requirements of
a specification or contract are met
Accrual Correct Ans-An adjustment made to a set of financial accounts to reflect activity
that has occurred but for which cash has not yet been received or paid
Annual planning cycle Correct Ans-Planning involves a number of activities, such as
analysis of opportunities, setting aims, exploring options, producing detailed plans and
reviewing the plan against expectations. A cycle of activities as the result where each activity
might need the previous activity revised before the final plan is accepted
Approved supplier list Correct Ans-A list of approved suppliers who have the skills (for
example, technical, functional or financial) to undertake the work
Arms-length relationship Correct Ans-The relationship between two parties each of whom
has no obligation to the other
Asset value Correct Ans-The value of everything an organisation owns
Bargaining power Correct Ans-The ability of a company or individual to influence another
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