CIPS L4M3 (Commercial Contracting) EXAM QUIZ AND ANSWERS

CIPS L4M3 (Commercial Contracting) EXAM
QUIZ AND ANSWERS
What requirements might a buyer want from a supplier as reassurance
about its reliability as a condition for placing the supplier on the buyers
list of approved or preferred supplier?
Correct Answer -Certification of the supplier under an approved quality
standard
Which of the following is a potential advantage of standardization of
procured items?
Correct Answer -Lower costs
What environmental specification might a buyer wish to include in a
procurement order?
Correct Answer -Certification under ISO 14001, recyclable materials for
packaging, supplier compliance with laws and regulations on the
environment
Which one of the following performance criteria is least likely to be
included as a key performance indicator in a procurement contract for a
framework engagement
Correct Answer -Satisfactory ratings
Which one of the following KPIs is more likely to be included in a FW
agreement than in a contract for a one of purchase?
Correct Answer -Percentage of OTIF deliveries
Which one of the following might be used by a buyer in a long term
service contract as an incentive for the supplier to comply with the