VALID L5M5 EXAM REVIEW - PDF L5M5 EXAM DUMP

Valid L5M5 Exam Review - Pdf L5M5 Exam Dump

Valid L5M5 Exam Review - Pdf L5M5 Exam Dump

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Tags: Valid L5M5 Exam Review, Pdf L5M5 Exam Dump, Test L5M5 Prep, L5M5 Exam Brain Dumps, L5M5 Authorized Certification

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q46-Q51):

NEW QUESTION # 46
Which of the following is NOT a reason for supply chain mapping?

  • A. Eliminating the need for supplier relationship management
  • B. Gathering quality data through audits
  • C. Understanding and gaining insights into suppliers
  • D. Identifying potential risks and vulnerabilities

Answer: A

Explanation:
Supply chain mapping aims to identify risks, improve visibility, and ensure compliance, among other benefits. However, it does not eliminate the need for managing supplier relationships; in fact, it often enhances the ability to manage those relationships effectively.
Reference:
LO-2.1; Page 155; Mapping supply chains to achieve supply chain transparency


NEW QUESTION # 47
Which ONE of the following best exemplifies a competitive advantage?

  • A. Delivering products faster and with more accessibility than competitors
  • B. Employee uniforms
  • C. A business with a good reputation
  • D. Temporarily undercutting a competitor's already low prices

Answer: A

Explanation:
Choice C- This option represents a competitive advantage. Faster delivery and better accessibility can enhance customer satisfaction and loyalty, leading to increased sales. Therefore C is the correct answer.
Incorrect answer:
Choice A- Reputation is not a competitive advantage. However, if a business does something very well then it may gain a strong reputation giving it a competitive advantage.
Choice B- This strategy is not a sustainable competitive advantage. While it may attract customers in the short term, it can lead to price wars and does not provide a long-term benefit. Eventually, competitors may match or undercut those prices, resulting in no lasting advantage.
Choice D- Employee Uniforms do not contribute to competitive advantage. They may enhance brand image or create a professional appearance but do not offer a distinct advantage that impacts costs or product attractiveness directly. Employee Uniforms mainly serve a functional role without directly impacting competitive strategies.
Reference:
LO-1.2; Page 62-63; Competitive advantage through global sourcing


NEW QUESTION # 48
A global aerospace manufacturer collaborates closely with a supplier to develop a highly specialized component requiring advanced technical expertise and customization. The supplier invests significant resources in co-designing and producing the component to meet the manufacturer's specific requirements. This partnership is built on strong relationships and mutual commitment.
Which type of relationship on the CIPS relationship spectrum best describes this scenario?

  • A. Bespoke
  • B. Transactional
  • C. Moderate
  • D. Partnership

Answer: A

Explanation:
Option D- Bespoke relationships are characterized by a tailored approach, close collaboration, shared risk, and trust to deliver unique and specific solutions. The scenario describes significant customization and co-development, which are hallmarks of a bespoke relationship.
Incorrect answer:
Option A- Transactional relationships are arms-length, low-commitment relationships where the focus is on individual purchases, cost, and efficiency rather than collaboration. The scenario involves high collaboration, customization, and long-term commitment, which are not characteristics of a transactional relationship.
Option B- Moderate relationships sit in the middle of the spectrum, involving more interaction and coordination than transactional relationships but less collaboration than strategic or bespoke relationships. The scenario exceeds moderate collaboration and requires significant resources, expertise, and trust, which align with bespoke relationships.
Option C- Partnership describes a collaborative working relationship but lacks specificity. It does not explicitly account for the high customization and tailored solutions detailed in this scenario. While "partnership" implies collaboration, the CIPS relationship spectrum uses "bespoke" to specifically describe high customization and co-design relationships.
Reference:
LO-2.1; Page 152-153; Mapping supply chains to achieve supply chain transparency


NEW QUESTION # 49
Which of the following is an example where long-term availability of supplies is prioritized over short-term gains?

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

Answer: A

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 # 50
Which of the following are benefits to sustainable business practices? Select TWO

  • A. increased spending
  • B. weakened performance
  • C. increased productivity and reduced waste
  • D. competitive advantage

Answer: C,D

Explanation:
The two benefits are increased productivity and reduced waste and competitive advantage. The other two options are potential downsides. These types of questions in the exam are pretty straight forward-just look for the logical answer. Benefits and risks of sustainable practices are explained on p.11-14


NEW QUESTION # 51
......

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