L4M8 CIPS level 4 Glossary 2 Exam Questions With Verified Answers

L4M8 CIPS level 4 Glossary 2 Exam Questions With Verified Answers Name the 13 stages of the procurement cycle - answer1. Understand the need. 2. Market Commodity options. 3. Develop Stratgey/ Plan. 4. Pre-procurement / market test. 5. Develop required documentation. 6. Supplier Selection. 7. Issue invitation to tender. 8. Bid / tender evaluation. 9. Contract Award. 10. Warehouse logistics & receipt. 11. Contract performance review and continuous improvement. 12. Supplier relationships / contract management. 13. Asset management / end of life. Porters 5 Forces - answer*Rivalry among competitors; *Threat of new entrants; *Threat of substitute products; *Bargaining power of buyers; *Bargaining power of suppliers; Carters outsource matrix - answerStrategic Alliance Retain Eliminate Outsource Carters 10C's - answerCompetency Capacity Consistancy Control Cost Commitment Cash Clean Culture Communication The continuous improvement Cycle - answerIdentify Plan Execute Review Kraljic Matrix - answerLeverage Suppliers Strategic Suppliers Routine Suppliers Bottleneck Suppliers a requisition can take the following forms - answerVerbal Handwritten E-mail Automated Whats is included in a requisition - answerDate Description Supplier Quantity When Where Why Who Approval MRP V ERP - answerMaterial resource planning Enterprise resource planning Levels of competition - answerPerfect competition monopolistic competi