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L4M1 Scope and Influence of Procurement and Supply Questions and Answers

Questions 4

Provide a definition of a stakeholder (5 points) and describe 3 categories of stakeholders (20 points).

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Questions 5

What is a Code of Ethics? What should an Ethical Policy Contain? What measures can an organisation take if there is a breach of their Ethical Policy? (25 points)

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Questions 6

Describe the main characteristics of, and differences between, procuring goods, services and construction works (25 points)

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Questions 7

What is meant by Stakeholder Mapping? Describe a tool that can be used by a Procurement Professional to map the stakeholders at their organisation (25 points)

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Questions 8

Discuss 3 areas of regulation relating to competition that a procurement professional should be aware of (25 points)

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Questions 9

Bob is a procurement manager at ABC Ltd. He has been asked to ensure all future purchases achieve ‘value for money’ for the organisation. What is meant by ‘value for money’? (5 points). Describe 4 techniques that Bob could use to achieve this (20 points)

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Questions 10

Describe what is meant by the 5 Rights of Procurement (25 points)

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Questions 11

Explain, with examples, the advantages of a Procurement Department using electronic systems (25 marks)

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Questions 12

It is important for an organisation to balance achieving Added Value and ensuring processes are compliant. Explain the consequences of focusing on one area over the other and how an organisation can achieve both in its procurement activities (25 points).

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Exam Code: L4M1
Exam Name: Scope and Influence of Procurement and Supply
Last Update: Dec 1, 2024
Questions: 40

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