Pass the CIPS Level 5 Advanced Diploma in Procurement and Supply L5M2 Questions and answers with ExamsMirror

Explanation

The first three sentences are true about ISO 31000. The list of the 11 principles are from p. 140. ISO 3100 is a known exam topic.

Explanation

SWOT is used for this. S + W is strengths and weaknesses, which are internal risks. O+T are opportunities and threats which are external risks. See p. 12 for more information

Explanation

The correct answers are as follows:

Table Description automatically generated

Service Credits are commonly used in IT contracts. This is where the customer is compensated financially should the system 'go down' for a period.

Explanation

2 'increase security of supply risks as there is less buffer stock held on site' is the correct answer. With Lean manufacturing there is little or no buffer stock held. This means that if a supplier doesn't deliver on time, the whole manufacturing process will have to come to a stop until new supplies arrive. A risk of Lean Manufacturing is that you become too reliant on suppliers, and if there is a scarcity of resources or an issue with the supply chain, you are more exposed. See p.26-27 for more information on Security of Supply Risks.

Explanation

Lack of personnel is an internal risk- the others are external risks. Internal and external risks is a known topic for the exam so see p.116-117 for more information

Explanation

These are qualifications in business continuity. This comes from p.107 of the study guide. CBCI stands for Certificate of the Business Continuity Institute and DBCI Diploma of the Business Continuity Institute. Once you know what the acronyms stand for, the question is quite easy!