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what are the stages of ordering? 1) user need 2) raise requisition 3) approved process 4) issue PO 5) receive goods/service 6) approve invoice what are the stages of sourcing? 1) understand the need 2) develop strategy 3) raise requisition 4) source suppliers 5) issue ITT/RFQ 6) n...

CIPS L5M1 questions with complete solutions 2024/2025Basic characteristics of an organizations - correct answer Structure Objectives People Fayols 5 functions of management - correct answer Planning Organising Commanding Co ordinating Controlling STEEPLE - correct answer Socio- cult...

CIPS L4M7 Whole Life Asset Management questions with complete solutions 2024Causes of Obsolescence - correct answer Technical Change Cultural Change Legislation 2D Barcode - correct answer Types of Stock - correct answer Opening Stock Raw Materials Secondary Components Work in Progres...

CIPS L4M8 LO1 fully solved graded A+ passed 2024/2025Name all stages of the Procurement Cycle? - correct answer 1) understand need and develop a high-level specification 2) market/commodity options including make vs buy assessment 3) develop strategy/plan 4) pre-procurement market tests and mark...

CIPS L4M1 Scope and Influence of Procurement and Supply correctly answered 2024 What is Procurement? - correct answer Procurement is a STRATEGIC function of a business obtains something Tangible as goods or Intangible as services. Include Purchasing Inventory, Logistics, Supply, Waste Management Q...

CIPS L5M9 Operations Management LO1 fully solved 2024/2025Operations Management - correct answer The processes of managing the resources and processes involved in the acquisition and transformation of inputs and the distribution of outputs. Five Key Performance Dimensions / Performance Objective...

CIPS L4M2 Defining Business Need questions correctly answered 2024 Fixed Cost (FC) - correct answer Costs that remain the same irrespective of business activity or volume Variable Cost (VC) - correct answer Costs that vary with the level of output Market Factors - correct answer Objectives...

CIPS L4M2 Exam Questions with correct answers 2024/2025 Question: 1 The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct? - correct answer A. No, in market economy, the state decides the price of all goods and services B. Yes, each stage...

CIPS L4M2 Exam Questions with correct answers 2024/2025When should Competitive bidding not be used? - correct answer Where price cannot be establish with certainty Where price isn't the only variable Where there are significant set up costs involved Which 3 types of Whole Life Costing (WLC) m...

CIPS L4M8 questions with complete solutions 2024/2025Stage 13: Assets management/end of life - correct answer 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 ...

CIPS D1 Questions and correct answers 2024/2025 Q1 (a) Define the term 'stakeholder' in relation to an organization. (5 marks) (b) Describe the interests of TWO internal stakeholders of the procurement function. (10 marks) (c) Describe how the TWO internal stakeholders, identified in part (b)...

CIPS L4M4 LO1 questions with 100% correct answers rated A+ What is sourcing? - correct answer Sourcing is the location, acquisition and management of all the vital inputs required for an organization to operate. What is tactical/operational sourcing? - correct answer Low-level decision making ...

CIPS L4M1 - Key Phrases questions well answered graded A+ 2024/2025artificial intelligence - correct answer Machines that display human-like intelligence Assets - correct answer resources owned by a business audit - correct answer A systematic inspection of a process or procedure to assess ...

CIPS - L4M3 Commercial Contracting - CHAPTER 1 fully solved 2024/2025 Difference between Estimate, Quote and Tender (1.1, p. 2) - correct answer Estimate = has no legal standing, simply a 'best guess' by the supplier. *NOT a firm offer*. should be avoided within a commercial contract Tender / Q...

Commercial Auto, Surety, CIPs, and Miscellaneous Lines Chapter 8 Quiz and answers 2024 Holiday Builders finishes construction on Garcia's home. Several years later, an improperly installed balcony collapses, injuring Garcia and several guests attending his Super Bowl party. Garcia files a claim ag...

Command Words CIPS Level 4 Diploma correctly answered graded A+Analyze - correct answer Examine a topic together with thoughts and judgments about it, by dividing the topic into its separate parts and looking at each part in detail Appraise - correct answer Evaluate, judge or assess something,...

CIPS - Module seven questions with 100% correct answers 2024/2025Summary Offences - correct answer Can only be heard and decided by a Magistrate in Magistrates' Court. Less serious than indictable offences, penalties not as great. Chapter 3 Criminal Procedure Act 2009 s 27 - may be heard and de...

CIPS L1M1 Scope and Influence of Procurement and Supply P 2/4 correctly answered graded A+Procurement cycle 1-7 1. Define needs 2. Market analysis/commodity 3. Create Strategy 4. Pre-procurement 5. Prepare documents 6. Select supplier 7. Issue Invite to tender or RFQ Procurement cycle 8-...

Conflict of Interest 4Ds CIPS with verified solutions 2024/2025Disclose Disclosing a conflict is an important first step. Distance Maintain distance by allocating ongoing relationship responsibility to another colleague. Delegate If distancing is not possible then delegating tas...

CIPS L4M2 3.3 Identify the risks that can result from inadequate specifications and mitigation approachesDescribe how a zero-based approach works. Method to identify how to simplify the parts structure in a range of products What impact does standardization have on unit costs? cost reduction ...

CIPS L4 D5 - LO1 VALUE-ADDING SUPPLY CHAIN RELATIONSHIPS (C4 - TEXTBOOK)2024/2025List the primary & secondary activities in Porter's Value Chain Model (1.3, Figure 4.1) - correct answer 'VC' Model depicts primary and secondary activities of an organization through which value is created: Suppo...

CIPS L3M2 questions & answers graded 2024/2025Brand - correct answer An organizations identity total cost approach - correct answer An approach that considers all the costs associated with procuring an item The 5 rights of Procurement - correct answer Quantity, quality, time, place, price ...

CIPS L4M2 LO1 questions and answers latest 2024/2025 what is a business case? - correct answer a document that sets out the justification for undertaking a project on commercial grounds what is a straight re-buy? - correct answer the purchase of an item that was purchased last time there was a...