VALID L5M5 EXAM DURATION, L5M5 CERTIFICATION DUMPS

Valid L5M5 Exam Duration, L5M5 Certification Dumps

Valid L5M5 Exam Duration, L5M5 Certification Dumps

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Tags: Valid L5M5 Exam Duration, L5M5 Certification Dumps, L5M5 Latest Test Prep, L5M5 Valid Test Answers, Latest L5M5 Exam Notes

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q79-Q84):

NEW QUESTION # 79
Which TWO of the following statements are TRUE regarding the adjudication method of dispute resolution?

  • A. A decision must be made within 28 days
  • B. It is a more formal process than litigation
  • C. It is more expensive than litigation
  • D. The process is not confidential
  • E. It is faster than resolving disputes through the courts

Answer: A,E

Explanation:
Choice B-This is true. According to typical adjudication rules, decisions must be rendered quickly, usually within 28 days of the referral.
Choice D- This is true, adjudication is designed to resolve disputes swiftly compared to court proceedings.
Incorrect answer:
Choice A-This is false, adjudication is generally a confidential process.
Choice C- This is false, adjudication is less formal than litigation.
Choice E-This is false, adjudication is typically less costly than litigation.
Reference:
LO-2.4; Page 238; Escalating non-compliance and making exit arrangements


NEW QUESTION # 80
When developing an ESG policy, which of the following steps should be taken first?

  • A. Draft the policy
  • B. Consult with stakeholders
  • C. Gather Information
  • D. Identify the need

Answer: D

Explanation:
Steps to take to develop an ESG policy:
1) Identify the need
2) Identify who will take lead responsibility
3) Gather information
4) Draft the policy
5) Consult with stakeholders
6) Approve the policy
7) Procedures
8) Implement the policy
9) Monitor
So the correct answer is D.
Reference:
LO-1.1; Page 32-33; The development of ESG focused procurement and supply policies in securing ethical and sustainable procurement and supply arrangements


NEW QUESTION # 81
Several UK-based companies operate in diverse production industries, each facing unique market structures and supplier dynamics when sourcing raw materials and negotiating contracts. The power balance between buyers and suppliers varies based on market conditions, supplier availability, and industry-specific factors.
Case A: GreenPasture Feeds Ltd
GreenPasture Feeds Ltd is one of many manufacturers producing cattle feed, with soybean meal as a key ingredient. However, the supply of soybean meal is controlled by a small number of vendors, giving them significant bargaining power. As a result, GreenPasture Feeds Ltd faces higher procurement costs due to supplier dominance in the market.
Case B: MedTech Biologics Ltd
MedTech Biologics Ltd develops a specialized vaccine that relies on a crucial active ingredient supplied by a single biotechnology firm in Germany. This exclusive dependency creates a strategic interdependence between MedTech Biologics Ltd and its sole supplier, requiring close collaboration to maintain an uninterrupted supply chain.
Case C: PlayMax Toy Manufacturing
PlayMax Toy Manufacturing produces plastic toys using a specialized food-grade plastic sourced from a few manufacturers. However, the plastic resin needed for production is widely available from numerous global suppliers. This abundance of supply options strengthens PlayMax's bargaining position, allowing the company to negotiate favorable procurement terms.
Case D: BrewMaster Coffee Company
BrewMaster Coffee Company specializes in premium instant coffee production. Since high-quality Arabica coffee beans are grown and supplied by producers across various regions worldwide, the company benefits from an extensive supplier base. This widespread availability gives BrewMaster a competitive edge in securing cost-effective and high-quality raw materials.
Using the provided options, complete the table by identifying the market structure for each case and determining the buyer-supplier power dynamic based on their level of dominance.

  • A. Monopoly (Single supplier of the key ingredient): Buyer and supplier are interdependent
  • B. Oligopoly (Few suppliers of soybean meal): Supplier is dominant over buyer

Answer: A,B

Explanation:

In the competitive world of production and supply chain management, companies must navigate diverse market structures and power dynamics when sourcing raw materials. The availability of suppliers, the number of buyers, and the overall industry landscape influence the negotiation power between buyers and suppliers. Below, we analyze four UK-based companies, exploring their market structures and the inherent power dynamics that shape their procurement strategies. Case A: GreenPasture Feeds Ltd - Supplier Dominance in an Oligopoly GreenPasture Feeds Ltd operates in the cattle feed manufacturing industry, where soybean meal is a critical raw material. Despite the presence of multiple cattle feed producers, the supply of soybean meal is controlled by a limited number of suppliers, creating an oligopoly on the supplier side. Market Structure: Oligopoly (Few suppliers controlling the market) Power Dynamic: Supplier is Dominant Over Buyer Due to the scarcity of suppliers and the high demand for soybean meal, GreenPasture Feeds Ltd has little leverage in price negotiations. Suppliers dictate procurement terms, leading to higher costs for buyers like GreenPasture Feeds Ltd. The limited choice in suppliers forces the company to comply with set conditions, highlighting the imbalance of power in favor of suppliers. Case B: MedTech Biologics Ltd - Mutual Dependence in a Monopoly MedTech Biologics Ltd specializes in manufacturing a rare vaccine, relying on a single biotechnology firm in Germany for a crucial active ingredient. Since this supplier is the sole producer of the required material, it operates as a monopoly on the supplier side. Market Structure: Monopoly (A single supplier dominates the market) Power Dynamic: Buyer and Supplier are Interdependent While the supplier holds significant power by being the only source of the ingredient, MedTech Biologics Ltd is also the exclusive manufacturer of this particular vaccine. This mutual exclusivity fosters interdependence, requiring both parties to collaborate strategically to ensure consistent supply and stable production. The relationship must be carefully managed to maintain operational continuity and mitigate supply chain risks. Case C: PlayMax Toy Manufacturing - Buyer's Advantage in an Oligopsony PlayMax Toy Manufacturing produces children's toys using a specialized food-grade plastic, available from only a few manufacturers. However, there are even fewer buyers for this specialized plastic, giving companies like PlayMax a strong bargaining position. This scenario creates an oligopsony, where a small number of buyers influence supplier behavior. Market Structure: Oligopsony (Few buyers exert influence over suppliers) Power Dynamic: Buyer is Dominant Over Supplier Since there are multiple suppliers but limited buyers for this specific type of plastic, PlayMax can dictate favorable procurement terms, negotiate better prices, and even switch suppliers if needed. The suppliers, reliant on a small customer base, have limited pricing power, placing them at a disadvantage in negotiations. This gives PlayMax a strong upper hand in procurement decisions. Case D: BrewMaster Coffee Company - Balanced Competition in a Perfect Market BrewMaster Coffee Company produces premium instant coffee, sourcing high-quality Arabica coffee beans from multiple global suppliers. With numerous buyers and suppliers operating in this market, no single entity can dominate pricing or supply, making it an example of perfect competition. Market Structure: Perfect Competition (Many buyers and sellers, no market control) Power Dynamic: Buyer and Supplier are Independent Due to the abundance of coffee producers, BrewMaster Coffee Company has flexibility in choosing suppliers based on quality, price, and ethical sourcing. Similarly, coffee bean producers are not reliant on a single buyer, as they can sell their beans to multiple companies. This results in a balanced and competitive relationship, where neither side holds significant power over the other.


NEW QUESTION # 82
EcoSmart Solutions, a company specializing in sustainable construction materials, intends to make a sustainability claim for their product. They are aware of the ISEAL Alliance's guidelines for valid sustainability claims. Which of the following would be considered a valid sustainability claim according to ISEAL Alliance standards?

  • A. The product reduces carbon emissions, but the claim is not supported by any third-party audits or verifications
  • B. The product is marketed as "eco-friendly" based on internal environmental policies without any external certification
  • C. The product claims to improve sustainability, but the claims are solely based on anecdotal evidence and not on any recognized environmental criteria or certification
  • D. The product is made using 100% recycled materials, with claims verified by third-party certification from a recognized sustainability standard

Answer: D

Explanation:
Choice A- This is the correct answer. According to ISEAL Alliance guidelines, a valid sustainability claim must be supported by third-party certification from a credible and recognized sustainability standard, ensuring the claim is verifiable and transparent.
Incorrect answer:
Choice B- This is not a valid claim under ISEAL guidelines because third-party verification is necessary to substantiate any claims related to carbon emissions.
Choice C- This is not a valid claim under ISEAL guidelines. Claims need to be independently verified, and internal policies alone do not provide credibility to the sustainability claim.
Choice D- This is not a valid claim according to ISEAL standards. Claims should be based on verifiable evidence and supported by recognized sustainability standards.
Reference:
LO-3.2; Page 291; Role of industry standards and frameworks used by organizations in securing ESG considerations and ethical standards and Charter of Fair Trade and implications for procurement and supply


NEW QUESTION # 83
While low-cost country sourcing can provide substantial cost savings for buyers, it also comes with significant risks. Which of the following should be avoided as a potential target for low-cost country sourcing?

  • A. A country that is remote geographically but with good transportation routes
  • B. A country with stable tax and tariff structures
  • C. A country consisting of workers with detailed knowledge of the product
  • D. A country where companies use Just in Time (JIT) method of SCM

Answer: D

Explanation:
Choice B-It is important to calculate the potential cost of a supplier failing to meet the level of service timeline. If a company uses JIT methods of supply chain management, then LCCS is not a suitable option especially for critical components because delivery delays can be costly and disruptive. Without backup inventory, customers may have to wait for the company to receive supplies and manufacture the product. Thus is the correct answer.
Incorrect answer:
Choice A- A country with good transportation routes is critical to analyse as shipping will be fairly economical. Therefore is a potential target for LCCS.
Choice C- Level of education and skills of workers in chosen low cost country will help in producing vital key components as they will specialize in them. Thus this country should be a potential target of LCCS.
Choice D- Tariffs and taxes can significantly impact the cost-effectiveness of sourcing from low-cost countries. Understanding the export taxation in the source country and import tariffs in one's own country is crucial. This being stable can help in calculating and making a decision of selecting a country for low cost sourcing.
Reference:
LO-1.2; Page 76; Low-cost country sourcing


NEW QUESTION # 84
......

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