L4M4 Exam Dumps : Ethical and Responsible Sourcing

Secondary sources are data sets and publications that already exist and are not collected directly by the buyer. Examples include published economic indices (A), which provide information on inflation, commodity prices, and market trends, and financial/trade press (D), which offers insights into industries, suppliers, and economic conditions. By contrast, a buyer’s internal database and field observation studies are primary data sources, while supplier marketing materials are biased and less reliable. Responsible sourcing requires procurement professionals to use both secondary and primary sources for comprehensive market analysis, but secondary sources are especially useful for benchmarking and environmental scanning.

Explanation

Raja should send out a RFI- request for information; this will allow him to gain feedback from the marketplace prior to tender.

Speaking only with current suppliers will not provide all the information Raja requires.

He should not send out a request for quotation since he is still conducting market research

An open competition would be how he can procure, after he's completed his research

Explanation

Completing Due Diligence checks will help guard against concerns about unethical business practices.

Not all companies will have a published Anti-Slavery policy- this is only required for large companies.

Known suppliers might have issues that you don't know about so you should always do due-diligence checks on everyone you work with

Formal tenders won't sort out ethical issues unless specifically addressed within the tender and strong contract management is put in place afterwards.