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CIPS Exam L4M6 Topic 4 Question 53 Discussion

Actual exam question for CIPS's L4M6 exam
Question #: 53
Topic #: 4
[All L4M6 Questions]

How would a buyer measure value for money from a relationship with a new supplier for goods?

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Suggested Answer: B

CPV codes help suppliers find opportunities they can bid for. CPV codes are a numerical classification for products e.g. Strawberry Jam is 15332296 and when they are included on a Tender, any supplier who is registered with that same CPV code will get a notification that the tender is live. CPV codes are discussed on p.72 but not in much detail- so don't worry if you don't know much about them. So long as you know the above, you'll be fine.


by Rossana at Sep 13, 2024, 02:25 PM

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Gerald
2 days ago
I agree with Eloisa. It's important to consider both quality and cost when evaluating a new supplier.
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Tamala
3 days ago
D, quality and volume of goods, is a good consideration, but it's not the complete answer. We need to factor in the cost as well.
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Eloisa
4 days ago
I think a buyer would measure value for money by balancing quality and cost.
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Matilda
6 days ago
Option B, going for the lowest possible cost, is a common mistake. That doesn't capture the full picture of value.
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Ronny
7 days ago
I think the correct answer is C. Balancing quality and cost is the key to measuring value for money with a new supplier.
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