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L6M9 Latest Exam Answers, Pdf L6M9 Version
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| Topic |
Details |
| Topic 1 |
- Understand operations strategy and its contribution to overall business success: Targeting Operations Directors, this section evaluates understanding of operations strategy's impact on organizations, including aligning with business goals, market requirements, and resource management.
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| Topic 2 |
- Assess the strategic value of resource planning and control: This part targets Resource Planners, focusing on evaluating strategic resource planning concepts such as forecasting, scheduling, monitoring, and controlling resources effectively within the operational framework.
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| Topic 3 |
- Understand and apply leadership skills and behaviors appropriate for strategically improving the procurement and supply chain function: This section of the exam measures the skills of Supply Chain Managers and covers understanding leadership behaviors that enhance procurement processes. It assesses how to strategically improve supply chain functions, focusing on a key skill like "Strategic Decision Making".
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CIPS Supply Network Design Sample Questions (Q70-Q75):
NEW QUESTION # 70
Andrea is the Chief Financial Officer at Big Corporation and is completing aVariance Analysis. She has reviewed the production costs of creating item B, and this month's costs show avariance to budget of £-200.
What does this mean?
- A. More money was spent than expected
- B. The organisation has gained £200
- C. The organisation has lost £200
- D. Less money was spent than expected
Answer: D
Explanation:
Anegative varianceto budget means that the companyspent £200 less than expected, which is apositive outcome. While it may seem counterintuitive, a negative variance inthis context indicates cost savings rather than overspending.Option D is incorrectbecause the organisation has saved £200, not gained it. (See p.198)
NEW QUESTION # 71
Which of the following arecontract pricing arrangementsused to control costs?Select ALL that apply.
- A. Fixed price
- B. Variable price
- C. Open book
- D. Gain-share agreement
- E. Use of price index
Answer: A,C,D,E
Explanation:
* Fixed price: The supplier cannot change the price, ensuring cost control.
* Use of price index: Prices can only change based on an agreed index, preventing arbitrary cost increases.
* Gain-share agreement: The supplier is incentivized to save costs as they share in the profits, reducing the likelihood of overcharging.
* Open book: The buyer has full visibility of the supplier's pricing, preventing overcharging.
Variable price (D) is incorrectbecause it allows the supplier to change prices freely, making cost control difficult. (See p.199)
NEW QUESTION # 72
Liedtka (1998) describesfive attributesnecessary for aprocurement professionalto developstrategic thinking. What are these?
- A. Systems perspective
- B. Intelligent optimism
- C. Thinking in time
- D. Risk awareness
- E. Hypothesis driven
- F. Intent focused
Answer: A,B,C,E,F
Explanation:
* Thecorrect five attributesof strategic thinking are:#Systems perspective#Intent focused#Intelligent optimism#Thinking in time#Hypothesis driven
#Option B (Risk awareness) is incorrect-it isnotone of Liedtka's five attributes.
(See LO 2.1, p.65)
NEW QUESTION # 73
Asimple supply chainconsists of threecommercial roles. What are these?
- A. Buyer
- B. Organisation
- C. Supplier
- D. Distributor
- E. Manufacturer
Answer: A,B,C
Explanation:
Abasic supply chainconsists ofthree key roles:
* Supplier# Provides materials or products to the organisation
* Organisation# The business that processes/manages the product
* Buyer# The final customer who purchases the product
Distributor and Manufacturerexist in morecomplex supply networks, but they are not part of the simplest supply chain model. (See LO 1.1, p.3)
NEW QUESTION # 74
Dev is creating anOperations Strategyfor hishealthcare consultancybusiness. Which of the following describes anOperations Strategy? SelectALLthat apply.
- A. The Operations Strategy is aligned with the Organisational Strategy
- B. Operations Strategy focuses on external processes
- C. Operations Strategy is a short-ranged plan
- D. Operations Strategy supports the competitive advantage of the company
Answer: A,D
Explanation:
* Option B is correctbecause Operations Strategy helps build acompetitive advantagefor the organisation.
* Option C is correctbecause Operations Strategy must align with theoverall organisational goals.
* Option A is incorrect-it isSupply Chain Managementthat focuses onexternalprocesses.
* Option D is incorrectbecauseOperations Strategy is long-term, not short-ranged.
(See LO 2.1, p.63)
NEW QUESTION # 75
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