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Marvelous L5M5 Reliable Test Book & Leading Offer in Qualification Exams & Trusted Valid L5M5 Cram Materials

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q107-Q112):

NEW QUESTION # 107
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 # 108
Smith Industries, a production company, plans to hire an external organization to audit its operations. Which TWO qualifications should be required when selecting an independent third-party auditor?

  • A. Have strong communication skills
  • B. Be approved by a certified body
  • C. At least 5 years of experience
  • D. Appropriate professional qualification

Answer: B

Explanation:
Choice B - Approval or accreditation by a recognized certification body ensures that the auditor operates according to established professional and ethical standards. This is critical for maintaining trust and the reliability of the audit process.
Choice D- A formal qualification demonstrates the auditor's foundational knowledge and competency in auditing principles and methodologies. This is mandatory as it establishes the credibility and technical ability of the auditor.
Incorrect answer:
Choice A -Experience indicates practical exposure to audits, which can contribute to the auditor's ability to handle complex or unique scenarios. While valuable, this is not always mandatory, as less experienced auditors can still possess the necessary skills if well-qualified.
Choice C -Strong communication skills enable the auditor to clearly convey findings, recommendations, and areas for improvement to the organization. While important, this is often considered a soft skill rather than a mandatory criterion.
Reference:
LO-2.3; Page 210; Sourcing third parties for auditing services


NEW QUESTION # 109
Global sourcing often increases carbon emissions due to the long distances goods must travel. Which of the following strategies can help reduce this environmental impact?

  • A. Consolidating shipments to reduce the number of trips made
  • B. Sourcing from multiple distant suppliers to ensure competitive pricing
  • C. Increasing reliance on air freight for faster delivery
  • D. Focusing exclusively on sourcing from local markets regardless of cost

Answer: A

Explanation:
Choice B- Consolidating shipments means combining multiple orders into fewer deliveries, which reduces the total number of trips required. This approach leads to lower carbon emissions per unit of goods transported and enhances efficiency in logistics. Thus is the correct answer.
Incorrect answer:
Choice A- Using air freight can actually increase carbon emissions significantly compared to other transportation methods like shipping or rail. While it may expedite delivery, it is one of the most environmentally harmful ways to transport goods over long distances.
Choice C- While this strategy may help in achieving lower costs, it can increase carbon emissions due to the greater number of shipments required. Sourcing from many distant suppliers often leads to less efficient logistics and higher environmental impact.
Choice D- Although sourcing locally can significantly reduce transportation-related emissions, focusing solely on local markets may not always be practical or cost-effective. It can limit access to certain products, materials, or pricing advantages that global sourcing might provide. A balanced approach considering both environmental impact and cost is often necessary.
Reference:
LO-1.2; Page 79; ESG considerations in global sourcing


NEW QUESTION # 110
Effectively managing stakeholders helps a business minimize potential conflicts. One key approach to stakeholder management is analyzing stakeholders.
Which analysis tool can be used to conduct this assessment?

  • A. STEEPLED
  • B. Portfolio analysis
  • C. Kraljic analysis
  • D. SWOT

Answer: A

Explanation:

The correct answer as per study guide is Choice A STEEPLED analysis. Reference: LO-2.1; Page 175; Mapping, consulting and managing all stakeholder requirements to secure ESG considerations in ethical and sustainable procurement and supply arrangements


NEW QUESTION # 111
Mahfuz, a Procurement Officer at GreenLine Industries, manages a contract with a supplier of key raw materials. He recently noticed the supplier's non-compliance with the company's CSR (Corporate Social Responsibility) policy. Despite addressing the issue in a meeting, no significant improvements have been made. What should Mahfuz do next?

  • A. Escalate the issue to a senior manager
  • B. Make a financial claim
  • C. Terminate the contract
  • D. Issue an ultimatum

Answer: A

Explanation:
Choice C - This is the correct answer. Escalating the issue allows for higher-level intervention, which may lead to more significant pressure on the supplier to comply with the CSR policy. Senior managers can also provide strategic direction on how to handle the situation.
Incorrect answer:
Choice A - This is a drastic step and should typically be a last resort. Terminating the contract without giving the supplier an adequate opportunity to improve or exhausting internal escalation processes may damage the business relationship and disrupt the supply chain.
Choice B - While this might push the supplier to act, it can come across as confrontational and may not lead to a constructive resolution. A more collaborative approach, such as involving senior management, is usually preferable.
Choice D- This option is not suitable unless the supplier's non-conformance has directly resulted in financial damages that can be substantiated. The scenario does not indicate such damages, so this is not an appropriate action at this stage.
Reference:
LO-2.4; Page 233-234; Escalating non-compliance and making exit arrangements


NEW QUESTION # 112
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