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Guide for L5M6: CIPS Category Management

Quiz L5M6: CIPS Category Management

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/ 10

Quiz

1/10
According to Porter’s Five Forces, supplier power is strong in industries where which of the following
is true? [Select THREE]
Select the answer
3 correct answers
A.
No substitutes are available
B.
Supplier’s customers are fragmented
C.
Switching costs are low
D.
Forward integration is possible
E.
The product is undifferentiated

Quiz

2/10
Which of the following approaches to cost is the least transparent?
Select the answer
1 correct answer
A.
Price management
B.
Price acceptance
C.
Cost down
D.
Cost out

Quiz

3/10
SIC codes are sets of four-digit codes used to classify what?
Select the answer
1 correct answer
A.
Business departments
B.
Spend categories
C.
Countries
D.
Industries

Quiz

4/10
A list of direct costs within a manufacturing organisation could be found on which of the following?
Select the answer
1 correct answer
A.
Profit and Loss Account
B.
SWOT Analysis
C.
Bill of Materials
D.
Specification

Quiz

5/10
Which of the following industries is the only one that does not have a specific SIC code?
Select the answer
1 correct answer
A.
Agriculture
B.
Finance
C.
Retail
D.
Services

Quiz

6/10
Workshops, safety facilities, and design engineers are indirect costs associated with which industry?
Select the answer
1 correct answer
A.
Construction
B.
Retail
C.
Services
D.
Agriculture

Quiz

7/10
Which category of spend item would be most suitable to purchase through an e-auction?
Select the answer
1 correct answer
A.
Bottleneck
B.
Leverage
C.
Strategic
D.
Non-critical

Quiz

8/10
ABC Ltd wishes to ensure compliance across its supply chain. Which of the following are steps that
can be taken to ensure compliance with regulations and standards including CSR? [Select TWO]
Select the answer
2 correct answers
A.
Only work with large suppliers who have a CSR policy
B.
Make ethics and compliance a priority when qualifying new suppliers
C.
Communicate the company’s values across the supply chain
D.
Do not work with suppliers in low-cost countries

Quiz

9/10
Volatile inflation rates are a risk that can affect any business. Which STEEPLED factor would this fall
under?
Select the answer
1 correct answer
A.
Political
B.
Ethical
C.
Socio-Cultural
D.
Economic

Quiz

10/10
In a marketplace where there is a large number of suppliers, which of the following is true?
Select the answer
1 correct answer
A.
There is low rivalry
B.
There is a low barrier to entry
C.
Buyer power is strong
D.
Buyer power is weak
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Info quiz:

  • Quiz name:L5M6: CIPS Category Management
  • Total number of questions:92
  • Number of questions for the test:50
  • Pass score:80%

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