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L5M5 Latest Braindumps Questions - L5M5 Practice Questions

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High Pass-Rate CIPS L5M5 Latest Braindumps Questions Are Leading Materials & Reliable L5M5: Managing Ethical Procurement and Supply (L5M5)

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q100-Q105):

NEW QUESTION # 100
According to CIPS, demand management enables an organization to align its capacity with fluctuations in demand. Effective demand management ensures that products or services are available to the right people at the right time and place. Which of the following actions must the organization take to successfully manage demand?
1. Organization must keep their warehouses full of safety stock to meet demand effectively
2. Organizations must divert funds from other operational activities in order to acquire inventories
3. Organization must be prepared to respond to volatile events
4. Organizations must involve stakeholder in the process for real time information about demand

A. 3 and 4
B. 4 and 1
C. 1 and 2
D. 2 and 3

Answer: A

Explanation:
Based on the figure from the study guide, demand can be managed in four ways. Among the given options, Choices 3 and 4 are included. Therefore, the correct answer is Option C.

Reference: LO-1.4; Page 109; Demand Management and the need for urgent orders

NEW QUESTION # 101
As a procurement manager with a focus on sustainability, your objective is to develop KPIs that assess the environmental impact of your suppliers and demonstrate their commitment to eco-friendly practices. What key performance indicators would be most effective in measuring these impacts?

A. The average response time to customer complaints
B. The ratio of recycled materials used in production versus virgin materials
C. The percentage of shipments that are damaged during transit
D. The total number of products the supplier offers

Answer: B

Explanation:
Choice A- This KPI directly measures the supplier's commitment to sustainability and their environmental impact by indicating how much they are utilizing recycled resources compared to new materials. The other options do not effectively reflect environmental practices.
Incorrect answer:
Choice B- This KPI measures the breadth of the supplier's offerings but does not provide any insight into their environmental practices or sustainability. A supplier could offer many products without any of them being eco-friendly.
Choice C- While important for customer service and supplier responsiveness, this KPI does not relate to environmental impact. A fast response time does not necessarily mean that the supplier is following sustainable practices.
Choice D- This metric focuses on logistics and supply chain efficiency rather than environmental sustainability. Although reducing damaged shipments can have some indirect environmental benefits, it doesn't directly measure the supplier's environmental practices or commitment to sustainability.
Reference:
LO-1.1; Page 16; The role of environmental considerations in securing ethical and sustainable procurement and supply arrangements

NEW QUESTION # 102
The World Fair Trade Organization (WFTO) aims to help large global businesses expand into new markets, offering better products and fairer prices for consumers. Is this statement accurate?

A. No, the WFTO focuses on supporting smaller and disadvantaged producers
B. No, the WFTO primarily focuses on diminishing the influence of multinational corporations
C. Yes, the WFTO establishes global rules to safeguard consumers
D. Yes, the WFTO provides financial aid to international companies

Answer: A

Explanation:
Choice C- This is correct. The WFTO's mission is to support small and disadvantaged producers, ensuring fair wages, ethical trade practices, and market access.
Incorrect answer:
Choice A- This is incorrect. The WFTO does not focus on diminishing multinational corporations but works to empower disadvantaged producers.
Choice B- The WFTO does not establish global regulations but promotes fair trade practices and ethical business standards for producers and consumers, therefore this is wrong.
Choice D- This is incorrect. The WFTO's mission does not involve providing financial aid to businesses; it focuses on promoting fair trade principles.
Reference:
LO-3.3; Page 294-295; The World Fair Trade Organization (WFTO) and its principles

NEW QUESTION # 103
BrightWave Ltd, a publicly listed company, has recently expanded into international markets. To maintain regulatory compliance and stakeholder confidence, it relies on its audit committee. This committee oversees critical areas, including governance, risk management, and financial reporting.
Which TWO of the following responsibilities are typically within the audit committee's scope?
1. Reviewing and approving the company's strategic growth plans.
2. Monitoring the integrity of the financial statements and reporting process.
3. Appointing and evaluating the performance of the external auditors.
4. Managing the day-to-day operations of the finance department.
5. Ensuring the implementation of effective internal control systems

A. 3 & 5
B. 1 & 3
C. 2 & 4
D. 2 & 3

Answer: D

Explanation:
Option 2 - Monitoring the integrity of financial statements and reporting processes is a core responsibility of an audit committee, ensuring accuracy, transparency, and compliance with regulations.
Option 3- Appointing and evaluating the performance of external auditors falls within the audit committee's duties to ensure independence and effectiveness in audits.
Incorrect answer:
Option 1 & 4 - Strategic growth plans and managing day-to-day operations are the responsibilities of senior management and the board, not the audit committee.
Option 5- Internal control systems oversight can involve the audit committee, but implementation typically lies with management.
Reference:
LO-2.3; Page 215; Assessing the competencies of third-parties for the provision of ethical and ESG audit services

NEW QUESTION # 104
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. Make a financial claim
B. Terminate the contract
C. Escalate the issue to a senior manager
D. Issue an ultimatum

Answer: C

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 # 105
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