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CIPS L5M2 - Managing Supply Chain Risk

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Total 120 questions

Which of the following are benefits of ISO28000? Select TWO.

A.

competitive advantage

B.

cost saving

C.

increased market share

D.

decreased legal costs

Which of the following statements is true about ISO9001? Select TWO.

A.

it is based on the principle of continuous improvement

B.

it encourages businesses to see quality from the viewpoint of the customer

C.

it aims to ensure sustainability within the supply chain

D.

It complements ISO 20400

E.

it helps businesses to identify areas of potential risk and mitigate these accordingly

Which of the following are key areas of ISO 26000 Social Responsibility? Select THREE.

A.

organisational governance

B.

quality management

C.

human rights

D.

consumer issues

E.

efficient systems

Which of the following will you put into box 7?

A.

new technology

B.

forward contract

C.

outsource

D.

insurance

Which of the following will you put into box 3?

A.

hazard

B.

financial

C.

strategic

(Correct)

D.

operational

Juan is a Spanish business owner who imports several parts from Japan. Juan's business operates in Euros and the parts that he buys from Japan can often take a long time to arrive, this means that the price of the items sometimes fluctuates due to the exchange rate. Which of the following would be the best option for Juan?

A.

have the supplier quote in their own currency

B.

have the supplier quote in Juan's currency

C.

have the supplier match geographical profiles of customer sales with supplier purchases

D.

terminate the contract with the foreign supplier