RELIABLE L5M5 VALID TEST FORUM & LEADER IN CERTIFICATION EXAMS MATERIALS & UPDATED RELIABLE L5M5 MOCK TEST

Reliable L5M5 Valid Test Forum & Leader in Certification Exams Materials & Updated Reliable L5M5 Mock Test

Reliable L5M5 Valid Test Forum & Leader in Certification Exams Materials & Updated Reliable L5M5 Mock Test

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q99-Q104):

NEW QUESTION # 99
Which of the following best defines a cartel, and which party in the supply chain is most impacted by it?

  • A. A coalition of businesses to increase competition; primarily affects shareholders
  • B. A formal agreement between competing firms to set prices and limit production; primarily affects consumers
  • C. A collaboration between manufacturers to innovate; primarily affects suppliers
  • D. An informal agreement among suppliers to lower costs; primarily affects retailers

Answer: B

Explanation:
Choice A- This accurately describes a cartel. Firms collude to manipulate the market, resulting in higher prices and limited availability of goods. Consumers are directly impacted as they pay more and have fewer choices. Thus Choice A is the correct answer.
Incorrect answer:
Choice B- This describes a scenario more akin to cooperative pricing or collusion among suppliers, but it doesn't capture the essence of a cartel. While it could affect retailers by changing supply costs, it misses the focus on competition and pricing control typical of cartels.
Choice C- This option suggests a positive collaborative effort aimed at innovation, which is not characteristic of cartels. Cartels are generally about restricting competition rather than fostering innovation. Suppliers might be indirectly affected, but it doesn't align with cartel behavior.
Choice D- This is the opposite of what a cartel does. Cartels reduce competition by collaborating to control prices and production. While shareholders may be affected by cartel activities, the primary impact is felt by consumers and the market as a whole.
Reference:
LO-1.1; Page 43; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements


NEW QUESTION # 100
The ILO's fundamental principles and rights at work are binding on which countries?

  • A. Only countries with high labor standards
  • B. Only those that have ratified the ILO conventions
  • C. All member states of the ILO
  • D. Only developed countries

Answer: C

Explanation:
Choice B- This is the correct answer. The International Labor Organization (ILO) requires all member states to copyright its fundamental principles and rights at work, even if they have not ratified the specific conventions associated with these principles. These fundamental principles are part of the ILO Declaration on Fundamental Principles and Rights at Work (1998), which includes:
Freedom of association and the right to collective bargaining.
Elimination of forced or compulsory labor.
Abolition of child labor.
Elimination of discrimination in respect of employment and occupation.
When a country joins the ILO, it automatically accepts an obligation to respect, promote, and realize these fundamental principles, regardless of whether it has formally ratified the associated conventions. This reflects the ILO's commitment to promoting universal labor standards and protecting workers' rights globally.
Incorrect answer:
Choice A- This is incorrect because the fundamental principles apply to all member states, not just those that ratified specific conventions.
Choice C- The principles are universal and apply to all member states, regardless of economic status.
Choice D- Even countries with weak labor standards are obligated to promote these principles as ILO members. So, this is not the answer.
Reference:
LO-3.1; Page 248-249; Standards set by the United Nations (UN) and the International Labor Organization (ILO)


NEW QUESTION # 101
Automation Avenue, a manufacturing company, is struggling with production defects and high waste levels, affecting both quality and costs. To tackle these issues, they aim to adopt a systematic approach to enhance processes and reduce variability. Which methodology would be most effective in addressing defects and improving process quality?

  • A. Six Sigma
  • B. WEEE Certificate
  • C. ISO 14001
  • D. Both Six Sigma and ISO 14001

Answer: A

Explanation:
Choice A- Six Sigma is specifically designed to improve process quality, reduce defects and enhance efficiency. Thus this is the answer.
Incorrect answer:
Choice B- While ISO 14001 focuses on environmental management and sustainability, it does not directly address process improvement or defect reduction in the same way that Six Sigma does.
Choice C- Integrating both methodologies could provide comprehensive benefits, as Six Sigma can directly address process improvement and defect reduction, while ISO 14001 can enhance environmental performance and compliance. However, if the primary goal is to tackle defects and improve quality, Six Sigma would be the more immediate choice. Using both together can be beneficial for a holistic approach to quality and sustainability.
Choice D- WEEE (Waste Electrical and Electronic Equipment) certification pertains to the recycling and management of electronic waste. It focuses on environmental compliance regarding e-waste and does not address process quality or defect reduction directly. While important for environmental responsibilities, it is not relevant to the company's current challenges related to production defects.
Reference:
LO-1.1; Page 14-15; The role of environmental considerations in securing ethical and sustainable procurement and supply arrangements


NEW QUESTION # 102
A global aerospace manufacturer collaborates closely with a supplier to develop a highly specialized component requiring advanced technical expertise and customization. The supplier invests significant resources in co-designing and producing the component to meet the manufacturer's specific requirements. This partnership is built on strong relationships and mutual commitment.
Which type of relationship on the CIPS relationship spectrum best describes this scenario?

  • A. Partnership
  • B. Moderate
  • C. Bespoke
  • D. Transactional

Answer: C

Explanation:
Option D- Bespoke relationships are characterized by a tailored approach, close collaboration, shared risk, and trust to deliver unique and specific solutions. The scenario describes significant customization and co-development, which are hallmarks of a bespoke relationship.
Incorrect answer:
Option A- Transactional relationships are arms-length, low-commitment relationships where the focus is on individual purchases, cost, and efficiency rather than collaboration. The scenario involves high collaboration, customization, and long-term commitment, which are not characteristics of a transactional relationship.
Option B- Moderate relationships sit in the middle of the spectrum, involving more interaction and coordination than transactional relationships but less collaboration than strategic or bespoke relationships. The scenario exceeds moderate collaboration and requires significant resources, expertise, and trust, which align with bespoke relationships.
Option C- Partnership describes a collaborative working relationship but lacks specificity. It does not explicitly account for the high customization and tailored solutions detailed in this scenario. While "partnership" implies collaboration, the CIPS relationship spectrum uses "bespoke" to specifically describe high customization and co-design relationships.
Reference:
LO-2.1; Page 152-153; Mapping supply chains to achieve supply chain transparency


NEW QUESTION # 103
Which of the following are benefits to sustainable business practices? Select TWO

  • A. competitive advantage
  • B. increased productivity and reduced waste
  • C. increased spending
  • D. weakened performance

Answer: A,B

Explanation:
The two benefits are increased productivity and reduced waste and competitive advantage. The other two options are potential downsides. These types of questions in the exam are pretty straight forward-just look for the logical answer. Benefits and risks of sustainable practices are explained on p.11-14


NEW QUESTION # 104
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