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©JASONMcCONNELL 2025 ALL RIGHTS RESERVED 1 CIPS L4M4 - Ethical & Responsible Sourcing. Exam Questions and Answers 100% Pass What does RFQ stand for and what does it mean? - AnswerRequest for quote - It is an invitation to suppliers to ask them to give a quotation to supply goods and services. What does ITT stand for and what does it mean? - AnswerInvitation to tender - It is a formal invitation sent to suppliers inviting them to make an offer to supply goods and services. What is the k...

©JASONMcCONNELL 2025 ALL RIGHTS RESERVED 1 CIPS L4M4 Ethical and Responsible Sourcing. Exam Questions and Answers 100% Pass What are the two types of sourcing? - AnswerTactical/Operational & Strategic What is tactical sourcing? - AnswerLow level sourcing for low risk or routine items What is strategic sourcing? - AnswerHigh level sourcing for core products or services Benefits of make decision? - AnswerStrategy of organisation is to be self sufficient Enhanced control over processes I...

©JASONMcCONNELL 2025 ALL RIGHTS RESERVED 1 CIPS L4M4 - RESPONSIBLE AND ETHICAL SOURCING. Exam Questions and Answers 100% Pass What does sourcing mean? - AnswerWhen procurement professionals try to find suitable suppliers, products or services for the right money, quantity etc What are the two types of sourcing? - AnswerTactical and Strategic What is Tactical Sourcing? - AnswerThis involves low level decision making High profit, low risk items Short term projects Transactional relatio...

©THESTAR 2024/2025 ALL RIGHTS RESERVED 12:08PM. A+ 1 CIPS L4M4 Exam Questions With Correct Answers 100% Verified. Outsourcing - Answerthe strategic contracting out of major work, previously carried out in- house by the organization, to an external supplier Offshoring - AnswerOutsourcing to other countries where costs are much lower Subcontracting - AnswerThe user of a supplier by a buying organization to do work that the latter cannot do itself, because of temporary shortage of resource...

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 ava...

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