CIPS L4M8 EXAM WITH CORRECT ACTUAL
QUESTIONS AND CORRECTLY WELL
DEFINED ANSWERS LATEST ALREADY
GRADED A+ 2025 – 2026
Oligopoly
A market structure in which a few large firms dominate a
market
Monopoly
A market in which there are many buyers but only one seller.
Supplier segmentation
Integrated
Strategic
Collaborative
Transactional
Ansoff Matrix
"A Matrix looking at growth potential of a firms products. It
classifies strategies into market penetration, new product
development, market development and diversification and
measures the degree of risk associated with each strategy."
ESI
,early supplier involvement
Early Supplier Involvement
Involving suppliers in the early stages of product design.
ESI can gain information on the following
-technical advice
-cycle times
-lead times
-cost of production
-quality
-potential problems
-risk
-supply chain
-life cycle
Advantages of ESI
-reduces cost for buying organisation
-improves specifications
-enhances quality
-access to technology
-promotes innovation
-availability of expert knowledge
-reduces development time
-shares risk
Busisness case for whole life asset management
-Introduction
-Objective
,-Approach
-Resources
-Benefits
Procurement Cycle
the cyclical process of key steps when procuring goods or
services.
Steps of the Procurement Cycle
1. Understand Need and develop High level Spec.
2. Market/Commodity and options (inc make or buy
assessment).
3. Develop Strategy/plan
4. Pre-procurement market test and market engagement.
5. Develop documentation, PPQ/detailed spec/combine with
1.
6. Supplier selection to participate in ITT/RFQ/negotiation.
7. Issue ITT/RFQ.
8. Bid/Tender Evaluation and validation.
9. Contract award and implementation.
10. Warehouse logistics and receipt.
11. Contract performance review and continuous
improvement.
12. SRM and SC management and development.
13. Asset management/end of life and lessons learnt.
Terms and Conditions and the Developing of Contracts
, are a very important element of developing contracts,
helping to minimise contractual risks and exposure when
doing business.
Supplier Evaluation
the process of evaluating and approving existing and
potential suppliers by quantitative assessment against
specific business criteria.
Sourcing
a critical activity that commands increasing attention as
managing supply chains becomes more complex (Trautmann
et al., 2009). It is used at both tactical and strategic levels and
is concerned with what needs to be purchased
(product/service), in what quantities, for what purpose and
where.
Whole life cycle costing
takes into account the total cost of a product or service over
its lifetime, from concept through to disposal including
purchase, hire or lease, maintenance, operation, utilities,
training and disposal. It is important for procurement to take
all these elements into consideration when making decisions
and comparing the costs of buying, renting or leasing
equipment particularly. In most cases the purchase costs are
only a small proportion of the cost of operating it.
Corporate Social Responsibility (CSR)
QUESTIONS AND CORRECTLY WELL
DEFINED ANSWERS LATEST ALREADY
GRADED A+ 2025 – 2026
Oligopoly
A market structure in which a few large firms dominate a
market
Monopoly
A market in which there are many buyers but only one seller.
Supplier segmentation
Integrated
Strategic
Collaborative
Transactional
Ansoff Matrix
"A Matrix looking at growth potential of a firms products. It
classifies strategies into market penetration, new product
development, market development and diversification and
measures the degree of risk associated with each strategy."
ESI
,early supplier involvement
Early Supplier Involvement
Involving suppliers in the early stages of product design.
ESI can gain information on the following
-technical advice
-cycle times
-lead times
-cost of production
-quality
-potential problems
-risk
-supply chain
-life cycle
Advantages of ESI
-reduces cost for buying organisation
-improves specifications
-enhances quality
-access to technology
-promotes innovation
-availability of expert knowledge
-reduces development time
-shares risk
Busisness case for whole life asset management
-Introduction
-Objective
,-Approach
-Resources
-Benefits
Procurement Cycle
the cyclical process of key steps when procuring goods or
services.
Steps of the Procurement Cycle
1. Understand Need and develop High level Spec.
2. Market/Commodity and options (inc make or buy
assessment).
3. Develop Strategy/plan
4. Pre-procurement market test and market engagement.
5. Develop documentation, PPQ/detailed spec/combine with
1.
6. Supplier selection to participate in ITT/RFQ/negotiation.
7. Issue ITT/RFQ.
8. Bid/Tender Evaluation and validation.
9. Contract award and implementation.
10. Warehouse logistics and receipt.
11. Contract performance review and continuous
improvement.
12. SRM and SC management and development.
13. Asset management/end of life and lessons learnt.
Terms and Conditions and the Developing of Contracts
, are a very important element of developing contracts,
helping to minimise contractual risks and exposure when
doing business.
Supplier Evaluation
the process of evaluating and approving existing and
potential suppliers by quantitative assessment against
specific business criteria.
Sourcing
a critical activity that commands increasing attention as
managing supply chains becomes more complex (Trautmann
et al., 2009). It is used at both tactical and strategic levels and
is concerned with what needs to be purchased
(product/service), in what quantities, for what purpose and
where.
Whole life cycle costing
takes into account the total cost of a product or service over
its lifetime, from concept through to disposal including
purchase, hire or lease, maintenance, operation, utilities,
training and disposal. It is important for procurement to take
all these elements into consideration when making decisions
and comparing the costs of buying, renting or leasing
equipment particularly. In most cases the purchase costs are
only a small proportion of the cost of operating it.
Corporate Social Responsibility (CSR)
