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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q48-Q53):

NEW QUESTION # 48
EcoTech Solutions, a small business based in Canada, is exploring the possibility of developing its own environmental management system rather than adopting a widely recognized standard. What are two potential advantages of this approach? Select any TWO

A. It may be simpler for customers to understand
B. It could result in lower implementation costs
C. This is a form of greenwashing
D. It ensures compliance with local regulations and requirements

Answer: B,D

Explanation:
Choice B- An organisation specific system can be specifically designed to address local environmental regulations, ensuring the business remains compliant with the laws in its area.
Choice D- This is a advantage, as creating a custom environmental management system could have fewer expenses compared to adopting a global certification, such as ISO.
Incorrect answer:
Choice A- While a custom system could be tailored to local needs, it does not guarantee that customers will find it easier to understand than an internationally recognized standard.
Choice C- This is not necessarily true. Developing a custom system is not inherently greenwashing unless the system is used to falsely claim environmental achievements or mislead consumers.
Reference:
LO-3.2; Page 288-289; Role of industry standards and frameworks used by organizations in securing ESG considerations and ethical standards

NEW QUESTION # 49
A small tech startup (Startup A) is negotiating a partnership with a large corporation (Corp B). Corp B proposes to cover 80% of the development costs but requires Startup A to assume 90% of the risk in the event of product failure.
What is the most significant issue with Corp B's proposal in this negotiation?

A. The risk is disproportionately shared, placing an unfair burden on Startup A
B. Startup A will have limited control over the development process
C. The partnership will likely lead to profit-sharing conflicts later
D. Corp B is offering a higher percentage of funding than Startup A

Answer: A

Explanation:
Choice C- This is the correct answer. It highlights the main issue: Startup A is being asked to take on a significantly higher level of risk compared to their financial contribution, which is unfair and could lead to negative consequences for the startup.
Incorrect answer:
Choice A- While this statement is true, it doesn't address the core issue of risk distribution. Just because Corp B is contributing more funding doesn't justify imposing a heavier risk burden on Startup A.
Choice B- This option touches on potential control issues in the partnership. However, the primary concern in this scenario is not about control, but rather the fairness of the risk-sharing arrangement.
Choice D- While profit-sharing conflicts could arise from the arrangement, this option does not directly address the unfairness of the risk-sharing proposal. The primary problem lies in the unequal distribution of risk rather than potential future conflicts.
Reference:
LO-1.4; Page 130; Responsible use of power relationships

NEW QUESTION # 50
Which of the following is an example where long-term availability of supplies is prioritized over short-term gains?

A. Cutting costs in the short term, ultimately leading to a reduced range and variety of suppliers in the market
B. Selling products manufactured to lower quality standards, resulting in lower unit prices
C. Reducing quality standards in the short term, accepting that customer rejections will increase in the long term
D. Choosing a new supplier that is initially more expensive than others in the market to expand the supply base and develop market capacity

Answer: D

Explanation:
Choice C- Using a new supplier that is more expensive in the short-term than others in the market, to expand the supply base and to develop capacity in the market is an example of where long-term availability of supplies would be more important than short-term gains. This decision focuses on building relationships and capacity for the future, prioritizing sustainability over immediate cost savings. This is the correct answer.
Incorrect answer:
It is important to consider the broader concept of supply chain management when weighing up short term commercial benefits vs long term availability.
Choice A and B- Lowering quality in every aspect leads to a customer rejects and negative brand publicity. There will be no long term supplies required as customers won't buy the product.
Choice D- Variety reduction involves reducing the number of different solutions used to fulfil the same need. When considering developing a procurement strategy for a new category, it is common to find that there is a variety of different standards and solutions employed across an organization to fulfil broadly the same need. The solution is not sustainable.
Reference:
LO-1.4; Page 114-116; Short term commercial gains and long term availability

NEW QUESTION # 51
While low-cost country sourcing can provide substantial cost savings for buyers, it also comes with significant risks. Which of the following should be avoided as a potential target for low-cost country sourcing?

A. A country where companies use Just in Time (JIT) method of SCM
B. A country consisting of workers with detailed knowledge of the product
C. A country with stable tax and tariff structures
D. A country that is remote geographically but with good transportation routes

Answer: A

Explanation:
Choice B-It is important to calculate the potential cost of a supplier failing to meet the level of service timeline. If a company uses JIT methods of supply chain management, then LCCS is not a suitable option especially for critical components because delivery delays can be costly and disruptive. Without backup inventory, customers may have to wait for the company to receive supplies and manufacture the product. Thus is the correct answer.
Incorrect answer:
Choice A- A country with good transportation routes is critical to analyse as shipping will be fairly economical. Therefore is a potential target for LCCS.
Choice C- Level of education and skills of workers in chosen low cost country will help in producing vital key components as they will specialize in them. Thus this country should be a potential target of LCCS.
Choice D- Tariffs and taxes can significantly impact the cost-effectiveness of sourcing from low-cost countries. Understanding the export taxation in the source country and import tariffs in one's own country is crucial. This being stable can help in calculating and making a decision of selecting a country for low cost sourcing.
Reference:
LO-1.2; Page 76; Low-cost country sourcing

NEW QUESTION # 52
Which of the following technologies is increasingly being adopted in supply chain management to enhance transparency, traceability, and prevent counterfeit products?

A. Supply Chain Operations Reference (SCOR)
B. Blockchain
C. Value Stream Mapping
D. Value chain mapping

Answer: B

Explanation:
Option B- Blockchain technology aids supply chain mapping by providing tranparency over transactions and data exchanges across the supply chain. Blockchain enables every transaction or activity across the supply chain to be securely recorded thus reducing instances of counterfeit products and increasing transparency in supply chain. Thus B is the correct choice.
Incorrect answer:
Option A- Value Chain Mapping focuses on analyzing activities within a business to identify value-adding processes.
Option C- Value Stream Mapping is a lean tool for visualizing and improving workflow.
Option D- Supply Chain Operations Reference (SCOR) is a model for managing and improving supply chain performance.
Reference:
LO-2.1; Page 149; Mapping supply chains to achieve supply chain transparency

NEW QUESTION # 53
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Amelia Robinson Amelia Robinson

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