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CIPS L4M8 (Procurement and Supply in Practice) Certification Exam is an internationally recognized qualification that is designed to provide individuals with the practical skills and knowledge required to succeed in the procurement and supply chain management field. Procurement and Supply in Practice certification is an ideal choice for professionals who are looking to advance their careers in this field, as it covers a wide range of topics that are essential to success.

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In addition to the comprehensive CIPS L4M8 practice exams, our product also includes Procurement and Supply in Practice (L4M8) PDF questions developed by our team to help you get prepared in a short time. Our Prepare for your Procurement and Supply in Practice (L4M8) PDF format works on all smart devices without limits of time and place.

CIPS Procurement and Supply in Practice Sample Questions (Q166-Q171):

NEW QUESTION # 166
Why is it important to keep ethical codes of practice up to date?

Answer:

Explanation:
A code of ethics is a set of morals and principle set out by an organization to state what it deems to be acceptable conduct and behavior An ethical code of practice is a continually changing and developing document with society changing and different suppliers coming to market, the document has to remain current Suppliers should continually monitor their codes of ethics to ensure that;
1. They are looking after the interest of the supply chain
2. That potential customers can be reassured that they are conforming to the required regulation, e.g. ISO 14001.
Ethical code of conduct should be constantly monitored and updated in accordance with the changes organization faces. This include 1) Define (2) prevent (3) detect (4) reprove (5) evaluate.


NEW QUESTION # 167
Explain why the behavior of an organization with which you are familiar could affect its business.

Answer:

Explanation:
The social impact of an organization is formed by various behaviors. If an organization; behavior is poor this will create social impact which is likely to be reflected in the business performance. Organizations which display poor behavior face outcomes such as the following.
1. Reduce brand loyalty
2. Difficulty in recruiting
3. Negative media coverage
4. Reduced sales/profit
5. reputation damage


NEW QUESTION # 168
What are the definition of a new buy and a modified re-buy?

Answer:

Explanation:
A new buy is the purchase of goods and services by an organization or an individual for its first time. For example a transport organization for the very first time contracting the purchase of a Lorry out to an external supplier. In situations like this, it is advisable to start the procurement cycle from the very first stage. Which is understanding the need and developing high level specification.
Modified re-buy is the purchase of goods or services that an organization has bought before there was a need but with changes to the specification or supplier or quantity or quality. In carrying out modified re-buy, procurement professional should start from the very first stage of the procurement cycle to justify the added need and follow through. Not in all cases that buyer would have to start from understanding the need. In a situation where the changes required is a change of supplier, the organization will start from its preferred suppliers list and contract the next ranking supplier as the case may be.
* Refer to the question column for response


NEW QUESTION # 169
Research the ethical standard or accreditation of an industry with which you are familiar.

Answer:

Explanation:
If a supplier is accredited or is a member of an association that promotes good ethical conduct, a statement to this effect is likely to be featured on its company documentation. This could be in a form of letters after the organization name or the authorized use of logo.
Accreditation information should be verified by procurement professionals either asking organiza-tion for certification to prove membership or accreditation or checking on a professional register.
Below are associated bodies that form some industries.
1. ISO 14001 - for quality management
2. CIPS - for procurement and Supply
3. Red Tractor - NGO Registered in the UK, promoting human right
4. Amnesty International - human right
5. Carbon Trust - For Carbon neutral status.
* Refer to the question column for response


NEW QUESTION # 170
What Incoterm applies here?
The goods are considered 'delivered' at the point of release from the supplier's premises or another name place. The supplier is not responsible for loading or transporting the goods and does not have to arrange export clearance - this must be arranged by the buyer. The risk is on the buyer from this point.
a) EXW - Ex Works
b) FCA - Free Career
c) CPT - Carriage Paid To
d) CIP - Carriage and Insurance Paid to

Answer: B


NEW QUESTION # 171
......

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