CIPS Supplier Relationships L4M6 Learning Outcome 2- Questions and Answers
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Course
CIPS
Institution
CIPS
CIPS Supplier Relationships L4M6 Learning Outcome 2-
Questions and Answers
Added value through suppler relationships Correct Ans--Being able to identify and use an
appropriate approach to deal with supplier.
-Innovation developed as part of collaborative projects with strategic suppliers
-Re...
CIPS Supplier Relationships L4M6 Learning Outcome 2-
Questions and Answers
Added value through suppler relationships Correct Ans--Being able to identify and use an
appropriate approach to deal with supplier.
-Innovation developed as part of collaborative projects with strategic suppliers
-Reduction of waste
-Resilience and risk reduction
What are sources of information that a buyer can use to identify a suitable supplier?
Correct Ans-Internal stakeholders/user department knowledge, preferred supplier lists,
internet searches, networking.
Supplier identification in the private sector? Correct Ans-The private sector buyer is free to
invite as many suppliers to participate as it feels are relevant.
Supplier identification in the public sector? Correct Ans-Supplier identification in the
public sector is a more transparent process than in the private sector. In the public sector in
the EU the buyer will be required to advertise the requirement in the OJEU. It will then need
to select which common procurement vocabulary modes match its requirements.
What are common procurement vocabulary codes? Correct Ans-Numerical classifications
for products and services. The aim of these codes is to standardise the references used by
buyers to describe the products and services that they are purchasing.
, CIPS Supplier Relationships L4M6 Learning Outcome 2-
Questions and Answers
What is involved in the supplier assessment and selection process? Correct Ans-
Developing requests for information and documents and criteria, evaluating suppliers against
the criteria, evaluate tenders.
Supplier assessment stage, pre-qualification and selection- PRIVATE SECTOR Correct Ans-In
the private sector the method of supplier assessment and selection will be governed by the
internal policies and procedures around threshold values.
When to use competitive bidding? Correct Ans-When the item or service is of sufficient
value, when there is a clear specification, when competition exists between a number of good
quality suppliers, when there is enough time for the process to be completed properly.
When not to use competitive bidding? Correct Ans-When it's not possible to obtain firm
prices, when the specification is likely change, when price is not the main driver, when set-up
cost and time is prohibitive.
What is a connected stakeholder? Correct Ans-A stakeholder that has a strong interest in a
company's activities. This is due to its contractual or commercial relationship with the
company.
What do internal stakeholders include? Correct Ans-Internal end users, contract managers,
legal team, employees.
What do connected stakeholders include? Correct Ans-Suppliers, Customers and clients
What do external stakeholders include? Correct Ans-Competitors, communities,
government and other public agencies
What is the definition of value for money? Correct Ans-The most advantageous
combination of price and quality that makes a product or service fit for purpose and will
achieve the buyer's required outcomes. This needs to be reviewed in terms of whole life
costs.
Value for money is often described as the three E's, what are the three E's? Correct Ans-
Economy, Efficiency, Effectiveness
What are typical factors taken into account in defining value for money? Correct Ans-
Fitness for purpose, quality, total lifetime costs, risk, environmental and sustainability issues.
Creating value for money with competition. Correct Ans-In the public sector there are legal
rules to support the creation of value for money, transparency and fairness.
What can happen when there is a lack of compliance with procurement processes and
procedures? Correct Ans-Lack of contract coverage, Maverick buying activity, May end up
with a product or service that is unfit for purpose, procurement activity is not assessed and
managed in a consistent way.
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