CIPS L4M4 - RESPONSIBLE AND ETHICAL SOURCING EXAM QUESTIONS & ANSWERS 2024/25
CIPS L4M4 - RESPONSIBLE AND ETHICAL SOURCING EXAM QUESTIONS & ANSWERS 2024/25 What does sourcing mean? - ANSWERSWhen procurement professionals try to find suitable suppliers, products or services for the right money, quantity etc What are the two types of sourcing? - ANSWERSTactical and Strategic What is Tactical Sourcing? - ANSWERSThis involves low level decision making High profit, low risk items Short term projects Transactional relationships What is strategic sourcing? - ANSWERSTop level decision making High profit, high risk items Long term projects Collaborative relationships What factors are normally taken into account when sourcing? - ANSWERSPrice Delivery Quality Ethics Sustainability Availability What are NOVACK and SIMCO'S 11 stage sourcing process? - ANSWERSIdentify needs
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cips l4m4 responsible and ethical sourcing
