CIPS L4M4 LO1(Ethical and Responsible Sourcing) Questions and Answers
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Course
CIPS
Institution
CIPS
CIPS L4M4 LO1(Ethical and Responsible Sourcing)
Questions and Answers
What are Porters Five Forces? Correct Ans-- Threat of new entrants
- Bargaining power of buyers
- Threat of substitutes
- Bargaining power of suppliers
- Rivalry among existing competitors
CIPS L4M4 LO1(Ethical and Responsible Sourcing)
Questions and Answers
What are Porters Five Forces? Correct Ans-- Threat of new entrants
- Bargaining power of buyers
- Threat of substitutes
- Bargaining power of suppliers
- Rivalry among existing competitors
Benefits of the make decision Correct Ans-- strategy of the organisation is to be self-
sufficient
- enhanced control over processes
- improved quality control
- workforce remains stable
- continuity of supply
- no suitable 'buy' suppliers
- economies of scale available
- reduced risk
- easier to amend volumes/specifications
Benefits of the buy decision Correct Ans-- specialised knowledge available
- technological advancements available
- small volumes are not cost effective for 'make'
, CIPS L4M4 LO1(Ethical and Responsible Sourcing)
Questions and Answers
- cheaper to buy in than to manufacture/deliver
- 'make' organisation does not have the machinery required
- economies of scale available
- no capacity in-house
- less inventory
- reduced overheads
What costs are associated with all forms of sourcing? Correct Ans-- procurement
professionals salary
- resources, such as computers and telephones
- training
- development of policies and procedures
- time
Why is outsourcing not recommended for core activities? Correct Ans-it poses too much of
a risk to the organisation
What should be used to help evaluate which functions within the organisation could be
considered for outsourcing? Correct Ans-Outsourcing Decision Matrix
What functions are often outsourced? Correct Ans-- IT support
- catering
, CIPS L4M4 LO1(Ethical and Responsible Sourcing)
Questions and Answers
- cleaning
- marketing
- social media
- human resources
- accountancy and payroll
What is sourcing? Correct Ans-Sourcing is the location, acquisition and management of all
the vital inputs required for an organisation to operate.
What is tactical/operational sourcing? Correct Ans-Low-level decision making
High profit, low risk items
Short-term projects
Transactional relationships
What is strategic sourcing? Correct Ans-Top-level decision making
High-profit, high-risk items
Long-term projects
Collaborative relationships
What aspects typically represent value for money? Correct Ans-Price
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