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CIPS L4M1 > Chapter 3: Infrastructure > Flashcards

Chapter 3: Infrastructure Flashcards

1
Q

What is corporate governance and what does it achieve?

A

The system of standards, procedures and policies by which an organisation is controlled. It is a framework created around the company’s values and objectives.

It aims to direct and control actions of stakeholders to make organisations effective, efficient, and successful and policies/procedures ethical.

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2
Q

What are the elements of corporate governance?

A 
Vision
Mission
Strategy
Objectives
Goals
Policies/procedures
Management stakeholder and board accountability
Performance management
Stakeholder protection
Values/Ethics
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3
Q

What is a conflict of interest?

A

Where someone within an organisation has opposing loyalties which could either influence decisions in their own favour or giving preferential treatment.

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4
Q

What is a actual conflict of interest?

A

Having to make a decision that affects them personally

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5
Q

What is a perceived conflict of interest?

A

Having private interests that could affect a decision making process.

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6
Q

What is the 4D model for addressing conflict of interest?

A

Disclose
Distance
Delegate
Disassociate

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7
Q

What are the 4 areas ethics in procurement relate to?

A

Human rights
Bribery &Coercion
Fair Trade
Environmental

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8
Q

What are the main elements in a code of ethics?

A 
Values
Principles
Personal responsibility
Compliance
Reporting
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9
Q

What are the benefits of a code of ethics?

A 
Framework to provide cohesiveness
Reputation
Protection
Focus on good practice
Involvement
Diversity
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10
Q

Key points from CIPS code of conduct

A

Enhance and protection the standing of profession
Maintain highest standards of integrity in all business relationships
Promote eradication of unethical business practices
Enhance the proficiency and stature of the profession
Ensure full compliance with laws and regulations

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11
Q

What is a policy?

A

Policy is based on strategic plan and contains info on how an organisation will conduct itself.

Based on organisational objectives, legislation, regulation and standards.

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12
Q

What is a procedure?

A

The ways in which policies will be delivered

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13
Q

What is the purpose of having policies and procedures

A 
Ensure conformance with regulation 
Ensure compliance to legislation
Protect from coercion, bribery and fraud
Organisational protection
Continuity of supply
Promote efficiency
Promote ethical behaviour
Reference point
Assist audit processes
Aid with legal cases
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14
Q

What is organisational accountability?

A

All members of the business working both collectively and individually to achieve business objectives.

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15
Q

What are the 5 global standard levels of competency?

A 
Tactical 
Operational
Managerial
Professional
Advanced professional
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16
Q

What does accountability relate to in procurement?

A

Confirming to CIPS code of conduct
Compliance with ethical policies
Conducting suppliers appraisals and transparently
Awarding contracts to most effective suppliers
Managing spend to keep within budget
Ensuring specs are representative of need
Addressing or reporting potential areas of concern

17
Q

List areas of reporting in procurement

A 
Concerns/poor practice
Budget variances 
Supplier delivery info
Product quality
Percentage of defects/reworks
New suppliers
Contracts for review
Cost reductions
Price increases
Changes in legislation/regulation
18
Q

What is the model for a step change?

A

Kurt Lewin - unfreeze, change, freeze

19
Q

What are 8 main conventions of the ILO

A 
Freedom of association
Right to organise and collective bargaining
Forced labour
Abolition of forced labour
Worst forms.of child labour
Minimum age
Equal remuneration
Discrimination
20
Q

What are advantages of centralised procurement?

A

Economy of scale
More efficient use of skills/resources
Reduction on expenses
Stronger relationships

21
Q

What are the disadvantages of centralised procurement?

A

Potentially less supportive of local economies
Increased bureaucracy
Less accountability and sometimes lack of control

22
Q

Name the 3 types of procurement structure

A

Centralised
Hybrid
Devolved

23
Q

Name the 4 recognised hybrid structures

A

Consortium
Shared services
Lead buyer structures
Outsourced

24
Q

What are the types of consortia

A 
Loose
Voluntary
Regional
Profit-taking
Member-owned (buying groups - annual subscription)
Nonprofit (overhead reduction)
25
Q

What are the common functions that can be structured as shared services?

A

HR
Finance
ICT
Administration

26
Q

What is a lead buyer structure?

A

One department or individual tales responsibility for setting framework or the purchasing of a specific product or service

27
Q

What are the 4 elements of value for money?

A

5 rights of procurement
Innovation
Total life costs
Customer service

28
Q

What are the three main system types for inventory management

A

MRP
JIT
Kanban (method used to improve efficiency in systems)

29
Q

What is ERP

A

An IT system that co-ordinates a d integrates business processes and automates back office procedures to enhance efficiency.

30
Q

What modules are available in relation to ERP systems?

A 
Supply chain management
Manufacturing
Finance
HR
Customer Relationship Management
Project Management
31
Q

What are common elements of supply chain management module in ERP?

A 
Requisitions
PO raising
Delivery of PO
Invoice payment
Contract management (KPI's)
SRM
Supplier database
Supplier evaluation
32
Q

What are the 4 questions to identify a potential conflict of interest?

A

Will I gain financially in addition to my.salary?
Do I have any personal relationships with colleagues or suppliers?
Am I doing an identical role for a competitor?
Should I disclose any of my concerns?.

CIPS L4M1 (3 decks)

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