Free Aug-2024 UPDATED CIPS L3M2 Certification Exam Dumps is Online
CIPS Exam 2024 L3M2 Dumps Updated Questions
NEW QUESTION # 37
OTIF stands for:
- A. Order transmitted in full
- B. On time and in full
- C. On time and in our facility
- D. Order transmitted and in the supplier's factory
Answer: B
Explanation:
On time and in full.
OTIF is a reference to an order placed with a supplier having been delivered in the right quantity and on time. Note that this acronym makes no reference to quality.
NEW QUESTION # 38
A term used to describe preparatory activities undertaken after a contractor has been appointed, but before they have commenced work. Often used in projects, construction or management consultan-cy
- A. Globalisation
- B. Synchronisation
- C. Improvisation
- D. work.
- E. Mobilisation
Answer: E
Explanation:
It is probably often improvisation, but the correct answer is mobilisation: getting ready to undertake the task at hand.
It could be as simple as booking a team of consultants into a hotel room; it could be as complex as leasing bulldozers from the US, hiring cranes from China, and buying cement from Nigeria.
NEW QUESTION # 39
The time between recognition / origin of the need; through to usage or consumption is described as:
- A. Procurement lead time
- B. Seller's lead time
- C. Maker's lead time
- D. User's lead time
- E. True / total lead time
Answer: E
Explanation:
There are different views of 'lead time'; in part depending on where you are standing. The question refers to total lead time, sometimes referred to as 'true' lead time.
The other lead times all exist, in the eyes of the various parties to any particular transaction.
One should note that the internal lead time (ie within the buying organisation) is often much longer than the external lead time. The idea that 'procurement' or suppliers take a long time to process a re-quirement can be illusory.
NEW QUESTION # 40
Finding new potential suppliers using the internet might be known as:
- A. e-scouring
- B. e-sourcing
- C. e-souring
- D. e-auction
Answer: B
Explanation:
E-sourcing.
Try to be clear on the difference between e-sourcing and e-auctions.
Other related e-terms include e-contracting, e-procurement, and possibly more.
NEW QUESTION # 41
'The act of drawing the attention of someone in authority, to an alleged instance of unethical con-duct', is called:
- A. Wetting one's whistle
- B. Whistling in the wind
- C. Whistle stopping
- D. Whistleblowing
Answer: D
Explanation:
Whilst alerting senior managers to wrongdoing within the organisation may be whistling in the wind, requiring one to wet one's whistle afterwards, the term for this increasingly common practice in organisations is 'whistleblowing'.
NEW QUESTION # 42
An internet-based auction between competing sellers or suppliers in real time, is called a:
- A. Reverse e-auction
- B. Dutch e-auction
- C. Competitive e-tender
- D. Forward e-auction
Answer: A
Explanation:
Reverse e-auction.
This term is used in your syllabus.
NEW QUESTION # 43
Where performance of the contract may be impossible because of external unforeseen factors, this may be called:
- A. Force majeure
- B. Mutatis mutandis
- C. Force ouvriere
- D. Force superieure
Answer: A
Explanation:
A force majeure clause in a contract may give rights to either party to suspend its obligations in the event of something untoward happening which is outside the control of the parties.
Examples might volcanic dust clouds, tidal waves or a pandemic. Often lesser events trigger (or are used to try to trigger) the use of such a clause.
NEW QUESTION # 44
'It is important to remember that XXX customer service has a knock-on effect on YYY customer service'. What are the missing two words?
- A. Legal, financial
- B. Internal, external
- C. Procurement, marketing
- D. Competitor, market
Answer: B
Explanation:
This is the notion that the way people behave (and are treated) inside the organisation is likely to reflect the way they behave to others outside the organisation.
NEW QUESTION # 45
The axes on the Mendelow stakeholder management matrix are:
- A. Power and influence
- B. Power and interest
- C. Risk and reward
- D. Risk and interest
Answer: B
Explanation:
How powerful are stakeholders?
How much interest do they have?
Using these measures to help manage stakeholders effectively.
NEW QUESTION # 46
Cause and effect diagrams, also known as Ishikawa diagrams, are sometimes also known, because of their shape, as:
- A. Funny bone
- B. Wishbone
- C. Fishbone
- D. Tailbone
Answer: C
Explanation:
Fishbone diagram.
NEW QUESTION # 47
The letters 'EOQ' refer to:
- A. The idea of an optimum quantity to order
- B. The idea of an optimum quality to order
- C. The notion of there being a best time to order
- D. A person's level of 'emotional intelligence'
Answer: A
Explanation:
The Economic Order Quantity is a formula which attempts to calculate the most efficient quantity to order at any given time, by attempting to reconcile the cost of stockholding and the cost of plac-ing an order. This could then have implications for the timing of an order being placed.
The cost of holding stock can be reasonably accurately calculated and agreed with one's peers. However, determining the cost of placing an order can keep colleagues up late into the night, and can be a great topic to liven up a sleepy procurement / finance function.
NEW QUESTION # 48
'Sometimes descriptions of the need are best created by a cross-XXXX team'. What does XXXX represent here?
- A. Regional
- B. Funicular
- C. Functional
- D. Industrial
Answer: C
Explanation:
Cross-functional.
That is, drawn from a number of functions, or departments, within an organisation.
NEW QUESTION # 49
Which of the following are likely to encourage sound ethical practices within a procurement department?
- A. Encouraging membership of CIPS for all staff
- B. After-hours socialising to develop better relationships with suppliers
- C. Generous levels of workplace training
- D. Annual audits
- E. Modest salaries
Answer: A,C,D
Explanation:
Audits, CIPS membership and effective training are all likely to foster an ethical culture in a pro-curement department.
Poor salaries or uncontrolled out-of-hours liaisons with supply companies may facilitate undesirable behaviour.
NEW QUESTION # 50
'The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:
- A. After life
- B. Shelf life
- C. Short life
- D. Long life
Answer: D
Explanation:
The correct answer is 'long life'.
Lifetime doesn't really make sense in respect of the other answers offered.
NEW QUESTION # 51
Use of competition is most obviously going to influence which of the following 'rights'?
- A. Revenue
- B. Price
- C. Place
- D. Time
Answer: B
Explanation:
All aspects of an acquisition may be impacted by the use of competition - normally favourably - but the one we are most likely to see immediate impact on is 'price'.
NEW QUESTION # 52
Which two of the following are world-famous quality management gurus?
- A. Bing Crosby
- B. Bill Cosby
- C. Philip Crosby
- D. Phil Collins
- E. W Edwards Deming
- F. Edgar Hoover
Answer: C,E
Explanation:
Both Philip Crosby and Deming (alongside Juran) are legendary quality management thinkers and writers.
Both Phil Collins and Bing Crosby are famous singers; Bill Cosby is an American comedian; and J Edgar Hoover was the legendary Head of the FBI in the USA.
NEW QUESTION # 53
'Expediting' is:
- A. Setting off for Nepal
- B. Seeking approval for organisational expenditure
- C. Chasing up orders already placed
- D. Taking an audit of warehouse stock
Answer: C
Explanation:
Expediting - a task, which in an ideal world would not normally need to exist - is seeking to ensure delivery is made in line with contract and / or organisational needs.
It has nothing to do with permission to spend, auditing, or preparing for an expedition.
NEW QUESTION # 54
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