Cips l4m4 - Study guides, Class notes & Summaries

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 Benefits of make decision? Strategy of organisation is to be self sufficient Enhanced control over processes Improved quality control Workforce remains stable Continuity of supply No suitabl...

L4M4 - Chapter 2 Questions and Answers 100% Pass How does the Pareto Principle differ to the ABC Analysis? - Correct Answer ️️ -Instead of the Pareto 80/20 split, the figure splits the suppliers into three categories. 'A', 'B', 'C'. They are categorised according to their levels of importance/spend to the buying organisation. Figure 2.1 : 'A' suppliers represent 20% of the total spend (these suppliers are responsible for the highest level of spend, most important). 'B' supp...

L4M4 - Chapter 2 Exam Questions And Answers (Verified And Updated) How does the Pareto Principle differ to the ABC Analysis? - answerInstead of the Pareto 80/20 split, the figure splits the suppliers into three categories. 'A', 'B', 'C'. They are categorised according to their levels of importance/spend to the buying organisation. Figure 2.1 : 'A' suppliers represent 20% of the total spend (these suppliers are responsible for the highest level of spend, most important). 'B' sup...

L4M4 - Chapter 2 Exam Questions And Answers (Verified And Updated) How does the Pareto Principle differ to the ABC Analysis? - answerInstead of the Pareto 80/20 split, the figure splits the suppliers into three categories. 'A', 'B', 'C'. They are categorised according to their levels of importance/spend to the buying organisation. Figure 2.1 : 'A' suppliers represent 20% of the total spend (these suppliers are responsible for the highest level of spend, most important). 'B' sup...

L4M4 - CHAPTER 1 EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ What is Tactical sourcing? Correct Answer: Low level decision making High profit, low risk items Short term projects Transactional relationships What is Strategic sourcing? Correct Answer: Top level decision making High profit, high risk items Long term projects Collaborative relationships What factors typically represent value to the procurement organisation when sourcing? Correct Answe...

L4M4 - Chapter 2 Exam Questions And Answers (Verified And Updated) How does the Pareto Principle differ to the ABC Analysis? - answerInstead of the Pareto 80/20 split, the figure splits the suppliers into three categories. 'A', 'B', 'C'. They are categorised according to their levels of importance/spend to the buying organisation. Figure 2.1 : 'A' suppliers represent 20% of the total spend (these suppliers are responsible for the highest level of spend, most important). 'B' sup...

L4M4 - Chapter 2 How does the Pareto Principle differ to the ABC Analysis? - ANS Instead of the Pareto 80/20 split, the figure splits the suppliers into three categories. 'A', 'B', 'C'. They are categorized according to their levels of importance/spend to the buying organization. Figure 2.1 : 'A' suppliers represent 20% of the total spend (these suppliers are responsible for the highest level of spend, most important). 'B' suppliers are collectively responsible for a sm...

What is sourcing? - Answer-Sourcing is the location, acquisition and management of all the vital inputs required for an organisation to operate. What is tactical/operational sourcing? - Answer-Low-level decision making High profit, low risk items Short-term projects Transactional relationships What is strategic sourcing? - Answer-Top-level decision making High-profit, high-risk items Long-term projects Collaborative relationships What aspects typically represent value for money? - Ans...

CIPS L4M4 LO1 exam solutions |2024

What is sourcing? - Sourcing is the location, acquisition and management of all the vital inputs required for an organisation to operate. What is tactical/operational sourcing? - Low-level decision making High profit, low risk items Short-term projects Transactional relationships What is strategic sourcing? - Top-level decision making High-profit, high-risk items Long-term projects Collaborative relationships What aspects typically represent value for money? - Price Delivery Quality ...