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M4 Flashcards

1
Q

Identify the two types of “sourcing” and four characteristics of each type.

1.1

A

Tactical Sourcing - Short term and transactional in nature.
Strategic Souricng - Focuses on aligning procurment decisions with buisness stratergy.

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2
Q
  • Explain the term outsourcing and identify six reasons why an organisation may decide to do this.
A

Outsourcing - Contracting certain business functions to external providers. they may do this so they can:

Cost saving
Focus on core competitors
flexibility and scalability
risk management
Time Saving
Advanced tech

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3
Q
  • Identify the market analysis tool that uses forces to identify the level of competition within a market.
A

Porter Five Forces

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4
Q
  • Identify each of the forces.
A

Bargaining of Buyer
Bargaing of supplier
Threat of new entrants
Rivalry
threat of substitues.

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5
Q
  • When considering the make or buy decision – identify five arguments/factors for “make” decision.
A

Make decision:
Improved quality control
Reduced risk
Continius supply

Buy Decision
No capacity in house
reduced overheads
Advanced Tech that “make” do not have.

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6
Q
  • Identify and explain the model that can be used to recognise external factors that affect the market.
A

STEEPLED
Social
Tech
Economic
Enviroment
Political
Legal
Ethical
Demographic

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7
Q
  • Explain the term “intracompany trading”.
A

Different subsidaries within the same umbrella company.

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8
Q
  • Identify and describe four other procurement structures
A

Decentralised - Individual locations are responsible for their buying activity
Centre led action network - Policy is determined by the centre.
Strategically controlled action network - centre sets stratergy and has control in local markets.
Distributed Network - no defined centre.

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9
Q
  • Explain the term “transfer pricing arrangement”.
A

Pricing of goods services or assets within the same organisation

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10
Q
  • Identify five advantages of transfer pricing arrangements.
A

Global tax bill can be reduced
Simplifies internal accoutning
Divisions can be evaluated on spend

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11
Q
  • Identify five disadvantages of transfer pricing arrangements.
A

Careful and strict monitoring to avoid tax evasion
Sourcing locally may be more cost effective.
Some contries economies can be negatively affected.

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12
Q
  • Identify the model which can be used to assess the impact a product/purchase has on the organisations profit and level of supply risk it poses to the organisation.
A

Kraljic Matrix

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13
Q
  • Identify four related costs with outsourcing.
A
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14
Q
  • Identify four benefits of outsourcing.
A

Continuity of supply
Continuity of employment
Protect Rep Damage
Supports local economy

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15
Q
  • Identify the matrix to be used to help decide which organisations functions should be outsourced.
A

Thomas & Kilman

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16
Q
  • Identify five functions that are frequently outsourced.
A
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17
Q
  • Explain the terms “insource”, “offshored”, “reshored” and “onshored”
A
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18
Q
  • Identify five risks of outsourcing.
A
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19
Q
  • Identify the legislation that aims to protect employees when outsourced contracts are moved between supplier.
A
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20
Q
  • Describe the work of the ILO and Fairtrade Foundation organisations
A
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21
Q
  • Explain the term “single sourcing”

1.2

A
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22
Q
  • Explain the term “sole-sourcing”
A
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23
Q
  • Identify and explain four advantages of single sourcing
A
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24
Q
  • Identify and explain four disadvantages of single sourcing
A
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25
Q
  • Explain the terms “dual and multiple sourcing”
A
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26
Q
  • Identify and explain four advantages of dual and multiple sourcing
A
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27
Q
  • Identify and explain four disadvantages of dual and multiple sourcing
A
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28
Q
  • Identify and describe the five stages of a generic tendering process.
A
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29
Q
  • Identify the five types of tendering process.
A
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30
Q
  • Explain the characteristics of each type of tendering process.
A
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31
Q
  • Identify and describe the quadrants of the model that can be used to understand approaches to negotiation
A
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32
Q
  • Identify and describe the four stages of the negotiating process
A
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33
Q
  • Explain the term PQQ and some of the typical elements found within a PQQ. What is it trying to achieve?

1.3

A
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34
Q
  • Identify six techniques used to prepare a list of potential suppliers
A
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35
Q
  • Identify and explain Dr Ray Carters 10C framework of supplier appraisal
A
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36
Q
  • Explain the term “quality assurance”
A
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37
Q
  • Identify the two types of specifications which can be used for products or services.
A
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38
Q
  • Identify the advantages and disadvantages of each type of specification.
A
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39
Q
  • Explain the term “TQM”
A
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40
Q
  • Identify the five aims of TQM
A
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41
Q
  • Identify the ISO for Quality Management
A
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42
Q
  • Identity four other criteria used to select external suppliers
A
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43
Q
  • Identify and explain five impacts that could affect organisations if they don’t conduct due diligence on potential suppliers.
A
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44
Q
  • Identify and explain five areas of supplier financial performance that can be evaluated
A
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45
Q
  • Explain what a profit and loss / income statement is used for
A
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46
Q
  • Identify the P & L calculation
A
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47
Q
  • Explain what a balance sheet / statement of financial position is used for
A
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48
Q
  • Identify the formula for shareholder equity
A
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49
Q
  • Identify the financial ratios which can be calculated to gain an overview of a supplier’s financial health.
A
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50
Q
A
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51
Q
  • Explain the use of the Pareto Analysis.

2.1

A
52
Q
  • Explain the use of ABC analysis
A
53
Q
  • Identify the 11 relationship types as per the CIPS relationship spectrum
A
54
Q
  • Identify five common Indices that measure economic data.
A
55
Q
  • Explain the term “commodity” and identify five types of commodities.
A
56
Q
  • Identify five factors that influence commodity pricing.
A
57
Q
  • Explain the term “futures contracts” and the associated benefits and risks.
A
58
Q
  • Identify three futures exchange markets.
A
59
Q
  • Identify and explain the two forms of data that can be collected on suppliers.
A
60
Q
  • Identify five source of secondary data.
A
61
Q
  • Identify and explain the use of three financial statements that can help procurement to evaluate supplier financial stability
A
62
Q
  • Identify three benefits of ensuring suppliers are financially stable.
A
63
Q
  • Explain the role of credit rating agencies and the five elements that make up a credit score
A
64
Q
  • Explain the terms “cyber-attacks”, “cyber crime” and “cyber-security”
A
65
Q

Identify five pieces of important information that should be included in advertisements of contracts.

A
66
Q

Explain the use of an RFI and the typical information this looks to identify.

A
67
Q

Explain the use and purpose of an RFQ.

A
68
Q

Identify five typical stages in a best practice tender arrangement.

A
69
Q
  • Explain the use of a weighted point system.
A
70
Q
  • Identify three of the six steps in the weighted points procedure.
A
71
Q
  • Identify five areas/criteria which may be included in a weighted points process.
A
72
Q
  • Identify three questions that could be asked upfront in terms of a supplier’s ESG and ethical practices
A
73
Q
  • Identify five areas of added value suppliers can deliver.
A
74
Q
  • Identify and explain five areas that a business case will cover when making recommendations
A
75
Q
  • Explain why it is important to have procedures in place for the contract award stage
A
76
Q
  • Identify five key areas of regulation

3.1

A
77
Q
  • Identify three product safety standards
A
78
Q
  • Identify the public sector regulations that impact the sourcing process
A
79
Q
  • Define the term “bribery”
A
80
Q
  • Identify and explain the regulation regarding bribery in the UK
A
81
Q
  • Define the term “corruption”
A
82
Q
  • Define the term “fraud”
A
83
Q
  • Identify five forms of fraud
A
84
Q
  • Define the term “embezzlement”
A
85
Q
  • Identify and explain the components of the fraud triangle
A
86
Q
  • Define the term “conflict of interest” using examples
A
87
Q
  • Identify the model that can be used to manage conflicts of interest
A
88
Q
  • Define the term “human rights”
A
89
Q
  • Identify five rights outlined in the Universal Declaration of Human Rights
A
90
Q
  • Define the term “modern slavery”
A
91
Q
  • Identify and explain five forms of modern slavery
A
92
Q
  • Identify five potential signs of modern slavery in supply chains
A
93
Q
  • Identify and explain five tender procedures
A
94
Q
  • Identify five advantages of undertaking a tendering exercise
A
95
Q
  • Identify three disadvantages of undertaking a tendering exercise
A
96
Q
  • Explain the term “EU Single Market”

3.2

A
97
Q
  • Explain the term “Non preferential origin”.
A
98
Q
  • Explain the term ‘Preferential origin’
A
99
Q
  • Identify and describe five documents to facilitate the flow od international import.
A
100
Q
  • Identify the currency market determined by supply and demand.
A
101
Q
  • Identify five benefits of international sourcing.
A
102
Q
  • Identify five disadvantages of international sourcing.
A
103
Q
  • Identify four reasons for limiting the import of goods.
A
104
Q
  • Identify three types of incoterm.
A
105
Q
  • Identify five types of payment mechanism that can be used in international trade.
A
106
Q
  • Explain the use of border controls and customs clearance.
A
107
Q
  • Identify the UK customs controls.
A
108
Q
  • Identify and explain the Vienna Convention (CISG)
A
109
Q
  • Explain the term “code of ethics”

3.3

A
110
Q
  • Identify and explain the five key principles of the CIPS code of ethics
A
111
Q
  • Identify Nolan’s seven principles of public life
A
112
Q
  • Explain the three key levels of implementing ethical codes
A
113
Q
  • Identify the acronym for SMART KPIs
A
114
Q
  • Identify thee examples of ethical KPIs
A
115
Q

What are the benefits of carrying out supplier audits?

A
116
Q

What are the constraints or limitations of carrying out supplier audits?

A
117
Q

What are the benefits of not announcing planned audits to suppliers before carrying them out?

A
118
Q

Explain the use and what is included in a corrective action plan.

A
119
Q
  • Explain the term “ESG”
A
120
Q
  • Explain the term “sustainability”
A
121
Q
  • Identify and describe the 3Ps of sustainability and the triple-bottom line concept
A
122
Q
  • Identify and explain five internal social impacts
A
123
Q
  • Identify and explain five external social impacts
A
124
Q
  • Identify the Iso for sustainable procurement
A
125
Q
  • Identify five benefits of monitoring and reporting on ESG impacts
A
126
Q
A

L4M4 (3 decks)

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