certification exam CIPS L4M8 level 4 questions with complete solutions

1. Stage 13: Assest management/end of life: The procurement professional should evaluate whether the need is still current. If it is and unchanged, the pro- curement cycle process commences again but from a different stage as the need is already known and understood. If the need is not required the buyershouldmanage the end of life by reducing stock levels and informing the supplier 2. Anti-bribery procedures: -Proportionate procedures:should be in line with the ype of bribery risk and scale that is likely to be faced -Top level commitment:High level execsshould set an example and issue state- ments, updates and feedback on the procedures and expectations -Risk assessment: Regular and documented risk assessment of the likelihood and impact of bribery -Due diligence:Documented proceduresshould cover and be enforced by all of the organisation within the supply chain -Communication:Ongoing training and updates should be provided to keep the organisation and its workforce aware of current developments -Monitoring and reviewing:Methods should be implemented to review compliance with the policies and procedures 3. Busisness case for whole life asset management: -Introduction -Objective -Approach -Resources -Benefits 4. Procurement Cycle:the cyclical process of key steps when procuring goods or services. 5. 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 continuousimprovement. 12. SRM and SC management and development. 13. Asset management/end of life and lessons learnt.