REAL L5M5 TORRENT - L5M5 VALID EXAM TOPICS

Real L5M5 Torrent - L5M5 Valid Exam Topics

Real L5M5 Torrent - L5M5 Valid Exam Topics

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q97-Q102):

NEW QUESTION # 97
Which ONE of the following best exemplifies a competitive advantage?

  • A. Temporarily undercutting a competitor's already low prices
  • B. Employee uniforms
  • C. Delivering products faster and with more accessibility than competitors
  • D. A business with a good reputation

Answer: C

Explanation:
Choice C- This option represents a competitive advantage. Faster delivery and better accessibility can enhance customer satisfaction and loyalty, leading to increased sales. Therefore C is the correct answer.
Incorrect answer:
Choice A- Reputation is not a competitive advantage. However, if a business does something very well then it may gain a strong reputation giving it a competitive advantage.
Choice B- This strategy is not a sustainable competitive advantage. While it may attract customers in the short term, it can lead to price wars and does not provide a long-term benefit. Eventually, competitors may match or undercut those prices, resulting in no lasting advantage.
Choice D- Employee Uniforms do not contribute to competitive advantage. They may enhance brand image or create a professional appearance but do not offer a distinct advantage that impacts costs or product attractiveness directly. Employee Uniforms mainly serve a functional role without directly impacting competitive strategies.
Reference:
LO-1.2; Page 62-63; Competitive advantage through global sourcing


NEW QUESTION # 98
Rahul, a procurement officer at a textile manufacturing company, aims to engage employees in integrating ESG (environmental, social, and governance) standards into daily operations. Is this an effective strategy?

  • A. No, because in raising ESG awareness workers have nothing to do
  • B. Yes, because workers have the right to association and CBA
  • C. No, for implementing ESG standards there is no need to raise awareness
  • D. Yes. Because, Employees are the best promoters and they feel valued if they involved

Answer: D

Explanation:
Choice D- Involving employees in raising sustainability awareness is a good strategy because by involving them, they feel valued and empowered, leading to increased engagement, ownership, and better promotion of sustainability practices. This is the correct answer.
Incorrect answer:
Choice A - This option is incorrect because raising awareness is a crucial step in implementing ESG initiatives. Without awareness, employees may lack the knowledge and motivation to adopt ESG practices, which can hinder the success of such efforts.
Choice B - This option is incorrect because the right to association and collective bargaining (CBA) refers to labor rights, not to ESG awareness. While these rights are important in the workplace, they do not justify involving workers in sustainability initiatives specifically.
Choice C - This option is incorrect because workers/employees are integral to the implementation of ESG practices. They play a key role in daily operations and can influence the organization's sustainability efforts. Claiming they have "nothing to do" disregards their potential contributions and undermines their importance in achieving ESG goals.
Reference:
LO-2.4; Page 224-225; Worker representation, processes and audit trails


NEW QUESTION # 99
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 # 100
Which term describes the phenomenon where environmental disruptions in the supply chain cause amplified fluctuations in demand or inventory levels as they move upstream?

  • A. Green Bullwhip Effect
  • B. Greenwashing
  • C. Fairwashing
  • D. Bluewashing

Answer: A

Explanation:
sustainability-related disruptions lead to amplified fluctuations in demand or inventory levels throughout the supply chain.
Incorrect answer:
Option A- Greenwashing refers to the practice of companies misleading consumers about the environmental benefits of their products or operations, without making substantial sustainable improvements.
Option B- Bluewashing refers to a company's attempt to improve its reputation by associating itself with the United Nations or other international organizations without genuine commitment to the causes they claim to support.
Option D- Fairwashing refers to companies falsely claiming to support fair trade practices or other ethical standards to improve their public image without implementing those practices authentically.
Reference:
LO-3.2; Page 282; The benefits and challenges of independent standards in securing ESG objectives in ethical and sustainable procurement and supply arrangements


NEW QUESTION # 101
A retail company has recently faced supply chain fraud, including copyright products and inflated invoices from suppliers. To enhance its fraud prevention measures, the management team is considering various strategies. Which of the following would be the most effective approach to mitigating supply chain fraud?

  • A. Fact-Finding Questionnaires
  • B. Establish a Diverse Supply Chain
  • C. Keep Up to Date with Legislation
  • D. Due Diligence on Suppliers

Answer: D

Explanation:
Choice D- This is the correct option. Due diligence refers to the comprehensive assessment and verification of suppliers' backgrounds, financial health, and compliance with ethical standards. This includes checking for certifications, conducting audits, and evaluating their business practices. By thoroughly vetting suppliers, companies can significantly reduce the risk of partnering with those involved in fraudulent activities, making this the most direct and effective strategy against fraud.
Incorrect answer:
Choice A- Establishing a diverse supply chain involves engaging multiple suppliers across different regions and sectors. This approach reduces reliance on any single supplier, making it harder for fraudulent activities to go unnoticed. However, while diversification can reduce risk, it does not directly address the verification of supplier integrity or prevent fraud at individual supplier levels.
Choice B- Staying informed about relevant laws and regulations is crucial for compliance and avoiding legal issues. While this can help protect a company from legal repercussions related to fraud, it does not inherently prevent fraud itself. It's more about ensuring that the company operates within legal boundaries rather than directly addressing fraudulent practices.
Choice C- Fact-finding questionnaires are tools used to gather information from suppliers regarding their operations, risk management, and compliance measures. While this can provide insights into a supplier's practices and help identify potential risks, it may not be as thorough or effective as direct due diligence efforts. Suppliers might provide misleading information, so this method should complement more rigorous vetting processes.
Reference:
LO-1.1; Page 51; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements


NEW QUESTION # 102
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