Exam Name: Procurement and Supply in Practice
Certification Provider: CIPS
Corresponding Certification: CIPS Level 4 Diploma in Procurement and Supply
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CIPS L4M8 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Strategic Sourcing and Category Management | 20-25% | - Strategic sourcing process - Supplier segmentation and criticality analysis - Spend analysis techniques - Category segmentation |
| Ethical and Sustainable Procurement | 15-20% | - Environmental sustainability in procurement - Ethical sourcing considerations - Supply chain transparency - Modern slavery and fair trade - Corporate Social Responsibility (CSR) |
| Procurement Process and Procedures | 25-30% | - Supplier selection methods - Contract award criteria - Requirements gathering and specification - Procurement cycle stages - Purchase ordering and goods receipt |
| Supplier Relationship Management | 20-25% | - Partnership and collaboration models - Risk management in supplier relationships - Supplier performance measurement (KPI, scorecards) - Supplier relationship types - Supplier development and improvement |
| Practical Application Scenarios | 15-20% | - Problem-solving and decision-making - Applying theory to real-world procurement situations - Recommendation and justification skills - Case study analysis |
CIPS Procurement and Supply in Practice Sample Questions:
Explain with examples three differences between offers and invitation to treat.
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
An offer is created when one party communicates to another or to multiple parties that they wish to enter into a legal binding agreement in accordance with the terms stated, for example; a company in promotion advertising for buyers to buy one and get one free, an offer is a buying organization communicating to a supplier to supply X number of goods and be paid x amount upon delivery at company premises, an offer is when a football club proposes to pay X amount to a player if agrees to play for them for a month. An offer can be legally banded if accepted, whereas invitation to treat does not. An invitation to treat is just an invitation from one party to another to begin negotiations with the intention of creating an offer. If an offer is made without stating terms, this becomes an invitation to treat, for example, an invitation to treat is when a pharmacy displays a drug in its shelf. An invitation to treat can be linked to a request a buyer send to suppliers asking them for specific information.
* Refer to the question column for response
Which contract term contains details of when a product or service should be delivered and ex-plained the potential loss of business?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Contract terms are the right and duties agreed between parties with which are then documented in contract.
Terms can be either implied or expression.
Implied terms are always present in a contract and are set by national laws; like the sales of goods act, whereas express terms are negotiated and created, for example; time is of the essence. When the procurement professional is setting key performance indicators, where which the supplier's performance will be monitored and managed, the KPI is expected to be SMART. The SMART is an acronym that is used to set KPI and specification. It means:
Specific
Measurable
Achievable
Relevant
Time bound
* Refer to the question column for response
Write down a list of assets that belong to an organization with which you are familiar.
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Assets are things that an organization owns regarded as having value and available to meet debt and generate revenue. The following are list of assets owned by Fullpower project, a shoe manufacturing firm;
1) Machinery,
2) a factory,
3) an innovative software,
4) skills of its personnel,
5) land,
6) Distribution network.
7) Its long time relationship with experienced suppliers of raw materials and Distributors of finished shoes.
What potential costs could an organization face if it fails to conduct Due diligence effectively?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Though strong due diligence procurement professionals can assess which suppliers or potential suppliers appear to meet the criteria associated with ethical practice.
Prior to the contract being awarded, strong due diligence can save the organization from the following cost:
1) Cost of reputation
2) Environmental damage
3) Stakeholders dissatisfaction,
4) poor quality and rework
5) Breach of contract
6) Ethical concerns
What is PQQ and what does it include?
Reveal Solution Discussion 0Correct Answer:
See the answer in explanation.
Explanation:
Pre-qualification questionnaire (PQQ) is often standard forms that buyers send to potential suppli-ers. The purpose is to ensure that these potential suppliers could, if they win the contract, supply the product or service to the standard required. PQQ includes requesting details from the potential suppliers on the following information
1. Company Details
2. Environment policies
3. Trading history
4. Ethical policies
5. Financial information
6. Health and safety policies
7. Quality standards
8. References
9. Insurance.
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