CIPS L4M6 Exam - Topic 8 Question 58 Discussion

Actual exam question for CIPS's L4M6 exam

Question #: 58
Topic #: 8

Tim manages the procurement department at a large retailer. He wants to ensure that his team are achieving value for money in their procurement activities. Which of the following should Tim set up?

AITT

BAudit

CFramework

DContract

Show Suggested Answer

Suggested Answer: A

This is an example of poor-communication. The information was not passed from the person who signed the contract to the staff on site who were to do the cleaning. See p.158 on communication issues.

by Deeanna at Jan 24, 2025, 12:43 AM

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Adolph

9 months ago

Surprised no one mentioned contracts, they’re super important too!

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Hubert

9 months ago

Wait, isn't an audit more about compliance than value?

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Cassi

10 months ago

A framework could also help streamline processes.

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Kimbery

10 months ago

Definitely agree, ITTs are crucial for value!

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Pamella

10 months ago

I think he should set up an ITT.

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Vonda

10 months ago

I thought contracts were more about the legal side of things. Not sure if they really help with achieving value for money like the other options might.

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Herminia

11 months ago

I feel like a framework could help establish guidelines for procurement, but I’m not clear if it directly ensures value for money.

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Ardella

11 months ago

I remember we discussed audits in class, and they seem crucial for ensuring compliance and value. Maybe an audit would be a good choice here?

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Kendra

11 months ago

I think Tim should set up an ITT because it helps in getting competitive bids, right? But I'm not entirely sure if that's the best option for value for money.

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Kris

11 months ago

I'm pretty confident the answer is C - Framework. That's the typical solution for ensuring value for money in procurement processes.

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Marica

11 months ago

I'm a bit confused on this one. I'm not sure if an ITT, audit, framework, or contract would be the best option. I'll have to re-read the question carefully.

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Georgiana

11 months ago

Definitely C - Framework. That's the standard approach for managing procurement to get the best value.

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Dorsey

11 months ago

Hmm, I'm not sure about this one. I'm debating between B - Audit and C - Framework. I'll have to think it through a bit more.

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Leslie

11 months ago

I think the answer is C - Framework. That seems like the best way for Tim to ensure value for money in procurement.

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Penney

1 year ago

I don't know, guys. Seems like a lot of work. Can't Tim just flip a coin and call it a day? Heads, we save money. Tails, we spend more. Easy peasy!

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Rosamond

1 year ago

Hold up, what about an ITT? Isn't that like a formal invitation to tender? That could work too, right?

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Leota

1 year ago

Another option could be to establish a supplier performance evaluation system to monitor and assess the performance of suppliers.

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Rex

1 year ago

Tim could also consider setting up a competitive bidding process to ensure the best prices for the goods and services.

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Pamela

1 year ago

Yes, an ITT is a formal invitation to tender. It could definitely help in achieving value for money.

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Tamra

1 year ago

Well, Tim could go for a Contract, but that might be a bit too specific. A Framework seems more flexible and comprehensive.

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Jani

1 year ago

D) Contract

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Tien

1 year ago

C) Framework

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Sheridan

1 year ago

A) ITT

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Maybelle

1 year ago

Hmm, I'm not sure. An Audit might be a good idea to assess the current procurement practices first, before setting up any new systems.

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Charlie

1 year ago

Once the Audit is done, Tim could consider setting up a Framework to ensure value for money.

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Delisa

1 year ago

An Audit might be a good idea to assess the current procurement practices first.

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Alecia

1 year ago

But wouldn't an audit also be important to monitor the procurement activities?

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Joseph

1 year ago

I think option C, a Framework, would be the way to go. It provides a structured approach to procurement that can help ensure value for money.

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Essie

1 year ago

Agreed, a Framework can streamline the procurement process and lead to cost savings.

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Maryln

1 year ago

I think setting up a Framework is a proactive step towards efficient procurement practices.

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Chara

1 year ago

Yes, a Framework provides guidelines and processes to follow for better procurement outcomes.

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Bettye

1 year ago

I agree, a Framework would definitely help in achieving value for money.

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Kallie

1 year ago

D) Contract

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Eva

1 year ago

C) Framework

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Samuel

1 year ago

B) Audit

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Iraida

1 year ago

A) ITT

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Lourdes

1 year ago

I agree with Garry. Setting up a framework will help ensure value for money.

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Garry

1 year ago

I think Tim should set up a framework.

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