TRY FREE L5M5 EXAM DUMPS DEMO BEFORE PURCHASE

Try Free L5M5 Exam Dumps Demo Before Purchase

Try Free L5M5 Exam Dumps Demo Before Purchase

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q31-Q36):

NEW QUESTION # 31
McKesson is a leading healthcare company specializing in wholesale medical supplies and equipment, pharmaceutical distribution, and healthcare technology solutions. Recently, public hospitals placed an urgent request for medical supplies. Which of the following is NOT a method for identifying urgent orders?

  • A. Identify strategically important customers and leverage goodwill for commercial renegotiations
  • B. Develop a standardized order policy to manage urgent requests, including appropriate cost allocation
  • C. Assess supply chain capability
  • D. Establish economic order quantities (EOQ) based on profit margins

Answer: D

Explanation:
The correct answer is Option B. A company should establish a minimum order quantity (MOQ) rather than an economic order quantity (EOQ) based on profit margin. MOQ is the minimum order amount set by a supplier or retailer, whereas EOQ determines the optimal order quantity to meet customer demand while minimizing holding and ordering costs.

Reference: LO-1.4; Page 113; Demand Management and the need for urgent orders


NEW QUESTION # 32
The right to freedom of association and collective bargaining primarily pertains to which of the following?

  • A. The right of governments to regulate labor markets
  • B. The right of employers to dismiss workers
  • C. The right of workers to demand minimum wage
  • D. The right of workers to form and join trade unions

Answer: D

Explanation:
Option B- Option B is correct because it explicitly describes workers' rights to form and join trade unions, which is central to this principle.
Incorrect answer:
Option A- The right of employers to dismiss workers is unrelated to freedom of association.
Option C- While governments may regulate labor markets, this is not the essence of freedom of association.
Option D- Minimum wage is a separate labor issue and not directly tied to freedom of association or collective bargaining rights.
Reference:
LO-3.1; Page 249-250; Standards set by the United Nations (UN) and the International Labor Organization (ILO)


NEW QUESTION # 33
Mr. Jerry, a procurement professional at a multinational company, notices unusually low labor rates within the supply chain. Which of the following should be his primary concern?

  • A. Corruption
  • B. Bribe
  • C. Modern Slavery
  • D. Fraudulent activity

Answer: C

Explanation:
Choice A- A procurement professional can evaluate the risk of slavery in their supply chain by considering whether buyers negotiate excessively low prices. If suppliers are pressured to reduce costs, it can negatively impact the finances of businesses involved in raw material production, increasing the likelihood of forced labor. Therefore, Choice A is the correct answer.
Choice B- Corruption is the dishonest or fraudulent behavior of people in power. This could be in the form of a producer bribing an official to get access to more farmland. It does not relate to low labor rates.
Choice C- Bribery is the act of offering money or something valuable to another person to persuade them to do something for you. Therefore is not concerned with labor rates.
Choice D- Fraud is the criminal deception that is designed to give a person or business a financial or personal benefit, ranging from bribes offered during supplier selection to forged checks during financing to fraudulent payments or payment guarantees. This option is not associated with low labor raters thus is not the answer.
Reference:
LO-1.1; Page 45; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements


NEW QUESTION # 34
GlobalPharm Ltd, a pharmaceutical company, has engaged a third-party auditor to assess its compliance with regulatory standards. During the audit, the company identifies potential risks. What is the most significant challenge GlobalPharm Ltd might face when working with a third-party auditor?

  • A. Reduced decision-making authority within management
  • B. Reputational damage if non-compliance issues are exposed
  • C. Lack of independence in the auditor's recommendations
  • D. Loss of operational control over manufacturing processes

Answer: B

Explanation:
Choice B- Reputational damage is a critical concern, as non-compliance findings could harm stakeholder trust, regulatory relationships, and the company's public image.
Incorrect answer:
Choice A- The company retains control over operations; auditors only provide assessments.
Choice C- Audits do not reduce management's decision-making authority.
Choice D- Certified auditors are expected to maintain independence.
Reference:
LO-2.3; Page 217-218; Challenges with third party auditors


NEW QUESTION # 35
A small-scale cocoa farmer in a developing country is a member of a Fair Trade cooperative, which benefits from a guaranteed minimum price for cocoa and a Fairtrade Premium. However, some members have expressed concerns about the system. Which of the following is a common criticism of the Fair Trade standard that might explain their dissatisfaction?

  • A. The administrative costs of certification and compliance reduce the net income for farmers
  • B. Farmers who are not part of the cooperative cannot access the benefits of Fair Trade
  • C. All of the above
  • D. The Fairtrade Premium is too small to make a meaningful impact on the community

Answer: C

Explanation:
Choice A- Critics argue that while the premium is helpful, it may not always be sufficient to address significant challenges like poverty or infrastructure gaps in the community.
Choice B- Fair Trade certification often requires membership in a cooperative, which excludes independent farmers or those unable to join due to geographic or financial barriers.
Choice C- Fair Trade certification comes with costs and stringent requirements, which can burden farmers and cooperatives, sometimes negating the financial benefits of participation.
Choice D- This is the correct answer because all the options accurately highlight potential limitations of the Fair Trade system.
Reference:
LO-3.3; Page 306; Fairtrade standards that affect the workplace and producers and their implications for procurement and supply


NEW QUESTION # 36
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