CIPS L4M4 Ethical and Responsible Sourcing Questions and Comprehensive Answers Graded A

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CIPS L4M4 Ethical and Responsible Sourcing Questions and Comprehensive Answers Graded A

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2024/2025

Institution CIPS L4M4

Course CIPS L4M4

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What are the two types of sourcing? - ️️Tactical/Operational & Strategic What is tactical sourcing? - ️️Low level sourcing for low risk or routine items What is strategic sourcing? - ️️High level sourcing for core products or services Benefits of make decision? - ️️Strategy of organisation is to be self sufficient Enhanced control over processes Improved quality control Workforce remains stable Continuity of supply No suitable suppliers to buy from Economies of scale available Reduced risk Easier to amend volumes/specs Benefits of buy decision? - ️️Specialised knowledge available Technological advancements available Small volumes are not cost effective to make Cheaper to buy in than make Economies of scale available No capacity in house Less inventory Reduced overheads

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CIPS L4M4 Ethical and Responsible Sourcing
Questions and Comprehensive Answers Graded
A 2024-2025
What are the two types of sourcing? - ✔️✔️Tactical/Operational & Strategic

What is tactical sourcing? - ✔️✔️Low level sourcing for low risk or routine items

What is strategic sourcing? - ✔️✔️High level sourcing for core products or services

Benefits of make decision? - ✔️✔️Strategy of organisation is to be self sufficient
Enhanced control over processes
Improved quality control
Workforce remains stable
Continuity of supply
No suitable suppliers to buy from
Economies of scale available
Reduced risk
Easier to amend volumes/specs

Benefits of buy decision? - ✔️✔️Specialised knowledge available
Technological advancements available
Small volumes are not cost effective to make
Cheaper to buy in than make
Economies of scale available
No capacity in house
Less inventory
Reduced overheads

Four categories of the Kraljic Matrix - ✔️✔️Non-critical
Leverage
Strategic
Bottleneck

Should core functions be outsourced? - ✔️✔️No, they should remain in house

Which functions are frequently outsourced? - ✔️✔️IT
Catering
Cleaning
Marketing
Social Media
HR

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Uploaded on: February 2, 2025
Number of pages: 4
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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CIPS L4M4 Ethical and Responsible Sourcing Questions and Comprehensive Answers Graded A

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