
The questions on this topic tend to be one of the following:
Analyse the added value of Five Rights
Explain the benefits of Five Rights
Describe the actions that could be done to achieve the Five Rights in the given scenario.
Direct and Indirect expense comparison is a common question in L4M1 exam. For this type of question, you should compare the following aspects:
The origin or definition of the expense
The impact of the expense on overall quality, profit of a company
The activities that may generate that expense
(Optional) The way in which procurement should manage the expense
Comparing capital expenditure and operational expenditure is another common question from CIPS. The question may use the word "distinctive features of..." instead of "Compare". In other exams, they may ask the students to "Describe the characteristics of...". In any case, students must list and describe the different features of a purchase and how that would impact on procurement activities.
The final way to categorise purchase is to dividing it into product and service. Each group has different characteristics which may have impact on how procurement should manage that category.
Applying supply chain management approaches in managing procurement is a possible topic for L4M1 exam. The question tends to focus on the benefits of such approaches in procurement. But before talking about the benefits, you should start with what the possible SCM approaches are and their use.
Procurement and Supply Cycle is an important part of L4M1 study guide as well as other modules. It is a structured process that instructs the actions to be taken in any procurement. It summarises the best practice from CIPS and is refined through time.
In the exam, you may see the questions like Describe FIVE (or THREE, FOUR) (Pre-contract award or Post-contract award) stages of the Procurement and Supply Cycle. To answer this question, you should structure your points as the following:
The name of the stage
The actions to be taken within that stage
The benefits of undertaking the stage correctly
(Optional) The risks of not undertaking the stage correctly
In this guide, we will write each stage in the same manner. Each stage will have three or four points.
Sourcing is a strategic activity that requires collaboration from various stakeholders. To facilitate such collaboration, the organization should implement a structured sourcing process.
A structured sourcing process is a clearly documented procedure that provides explicit instructions for everyone involved. The tasks for each individual are well-defined, ensuring that everyone knows their responsibilities at each step of the process. This clarity and organization help to streamline operations, reduce misunderstandings, and improve overall efficiency.
By having a structured sourcing process, the organization can ensure consistency in its procurement activities, enhance communication among stakeholders, and foster a collaborative environment. Additionally, a well-documented process can serve as a valuable training tool for new employees, helping them to quickly understand their roles and responsibilities.
In summary, a structured sourcing process is essential for achieving strategic sourcing objectives, promoting collaboration, and maintaining high standards of performance in procurement activities.
Hello CIPS students,
Welcome to the materials designed specifically for those enrolling in our L4M1 Practice Test and Short Learning Guide. This comprehensive revision package is crafted to support your preparation and ensure you excel in your studies. Here's what will be included:
Practice Questions with Detailed Answer Templates: Our practice questions come with meticulously crafted answer templates. You'll learn how to structure your responses in line with the CIPS format, ensuring you can achieve the highest marks in your exams.
Short Learning Guide: This guide offers clear explanations of key learning areas in L4M1. Since L4M1 is a Constructed Response (CR) module, the exam questions tend to focus on specific topics. To aid your study, we've split the guide into different subjects based on recent exam questions. This targeted approach helps you focus on the most important areas.
Revision Video of L4M1 Scope and Influence of Procurement and Supply: This 90-minute video provides detailed explanations of key L4M1 topics that are often asked in exams. It's an invaluable resource to help you understand the core concepts and principles essential for success.
We understand that learning CIPS can be a challenging journey, filled with complex knowledge and demanding exams. Our goal is to make your study experience as smooth and effective as possible. This revision package is designed to help you familiarize yourself with common L4M1 topics and typical exam questions, giving you the confidence to perform well.
We hope you find this material helpful and informative. If you have any concerns or questions regarding the module, please feel free to contact us through the message box. We are here to support you every step of the way.
Sincerely,
Daniel Do