CIPS Level 4 Diploma in Procurement and Supply L4M6 Syllabus Exam Questions Answers

Buyers with a strong brand profile and adherence to ethical standards attract suppliers, as they provide market prestige and assurance of fair practices. This aligns with CIPS's emphasis on ethical procurement.

Comprehensive and Detailed Explanation:

Succession issues pertain to the challenges associated with ensuring the uninterrupted supply of goods or services when transitioning from one supplier to another. Continuity of supplies is a primary concern, as any disruption can impact operations, customer satisfaction, and revenue. Effective succession planning involves:

Identifying Alternative Suppliers:Ensuring that backup suppliers are in place and capable of meeting requirements.

Knowledge Transfer:Facilitating the transfer of critical information and processes to new suppliers.

Inventory Management:Maintaining adequate stock levels during the transition period.

Other options listed, such as processing penalties, deletion of old specifications, and payment of old invoices, are administrative tasks that, while important, do not directly relate to succession planning.

Explanation

The housekeeping team have low power and high interest. According to Mendelow’s stakeholder matrix, this puts them in the bottom right corner which is ‘keep informed’. See p.81 for more information

Explanation

Adversarial and Arm's Length relationships have low levels of trust. Single Source, Partnership and Outsourcing require high level of trust. See p.5 for the Supplier Relationship Spectrum