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CIPS Defining Business Needs Sample Questions (Q71-Q76):

NEW QUESTION # 71
Which of the following methods will enable a company to eliminate waste, lost time and lost material from its processes?

A. Agile principles
B. Tendering process for routine items
C. Lean principles
D. Over specification

Answer: C

Explanation:
Lean design is about maximising the value that a customer receives and at the same time minimis-ing waste in delivering that value.
For an organisation to be 'lean' it must have had all non-essential resources removed (ie. anything that does not add value, see below). This is efficient and cost effective, in that the value/supply chain can theoretically do exactly what is needed of it and no more, but requires sound forecasting and planning of demand and supply. It is most suitable for industries with stable product specifications, long lead times and few impulse purchases.
Organisations which are 'agile' react as quickly as is practicable to provide a cost effective response to customer demand. This is based on flexibility in design, supply, production and distribution. It is most appropriate for products such as fast fashion and foodstuffs which must be on display and available when wanted by the customer.
Reference:
- CIPS study guide page 153-156
- Agile Supply (cips.org)
LO 3, AC 3.3

NEW QUESTION # 72
GSC Ltd is a manufacturer of car parts. To accommodate growing demands of electric cars, the company is developing a new component which requires different type of steel. The project team estimates that the component will be ready for production in 1.5 years. Until then, they need to keep the production busy.
After checking the inventory records, the production team sees that the company has 3 months of stock. The lead time for each batch is two months. Which of the following should be a priority ac-tion of the company?

A. Create new specification to new supplier
B. Create new specification to current supplier
C. Make a call-off order to current supplier
D. Standardise the specification

Answer: C

Explanation:
The scenario is very long with many distracting data. Students need to read carefully and use their experience to solve this problem.
The company is developing a new component which requires different type of material. But this component will not be available for mass production in 1.5 years. This means the company still needs to produce the current components with current materials until the development is finished. They must continue purchase the materials from current supplier through call-off orders. This situation is an example of straight re-buy.
Reference:
LO 1, AC 1.1

NEW QUESTION # 73
Which of the following are the causes of material cost variance?
1. The buyer updates purchase-to-pay system to track payment and delivery
2. An unprocessed goods received note is missing
3. The employees must work overtime to catch up with the customers' orders
4. The purchase is made in emergency

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

Answer: D

Explanation:
The difference between the standard cost of direct materials specified for production and the actual cost of direct materials used in production is known as Direct Material Cost Variance. Material Cost Variance gives an idea of how much more or less cost has been incurred when compared with the standard cost. Thus, Variance Analysis is an important tool to keep a tab on the deviations from the standard set by a company.
Material Cost Variance can be due to less purchase price being paid than the standard or because of change in the quantity of material used. Thus, Material Cost Variance is made up of two components namely; Material Price Variance and Material Usage Variance.
Among the 4 options:
- 'The buyer updates purchase-to-pay system to track payment and delivery': The use of e-procurement system can increase the productivity and create labour cost variance, not material cost variance.
- 'An unprocessed goods received note is missing': If a goods received note is missing, the buyer won't pay for that batch, which create quantity variance.
- 'The employees must work overtime to catch up with the customers' orders': Overtime salary can cause labour variance, not material cost variance.
- 'The purchase is made in emergency': Normally, the price in emergency situation is higher than usual. This can cause price variance.

NEW QUESTION # 74
The buyer's database is regarded as a primary data source. Which of the following is also a source of primary data?

A. Price lists collected from suppliers' representatives at trade fairs
B. Published economic indices such as the retail price index (RPI)
C. Financial and trade press, including journals published by professional bodies
D. Price listings on comparison websites and market exchanges

Answer: A

NEW QUESTION # 75
What does the acronym RAQSCI stand for?

A. Regulatory, Availability, Quality, Service, Cost, Innovation
B. Regulatory, Ability, Quality, Service, Cost, Inventory
C. Relationship, Ability, Quality, Service, Cost, Innovation
D. Relationship, Availability, Quantity, Sustainability, Cost, Innovation
E. Regulatory, Availability, Quantity, Sustainability, Inventory

Answer: A

Explanation:
RAQSCI stands for Regulatory, Availability, Quality, Service, Cost, Innovation.
LO 1, AC 1.1

NEW QUESTION # 76
......

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CIPS Defining Business Needs Sample Questions (Q71-Q76):

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