Free CIPS L4M7 Exam Questions

An organization might find it more beneficial to lease and use an asset over a predetermined period. After this period, the lessee has the right to secure outright ownership of the asset by paying an agreed amount; otherwise, the asset would be repossessed by the lessor. Which of the following is an advantage of leasing?

GAP Ltd is a retail business that wants to reduce its spending on stock. Its current procurement process is manual, repetitive and slow. The management team plans to use procure-to-pay (P2P) software to streamline the process and cut costs. What kind of cost is GAP aiming to lower?

Which of the following best describes what happens when order volumes from customers increase and multiply through the supply chain?

One of the classifications of inventory is referred to as 'indirect supplies.' Which of the following items are examples of indirect supplies in a water bottling plant? Lubricants for maintenance of production machines Computer cartridges for the procurement office Reams of printed labels to stick on water bottles Blue-colored plastic caps to seal the water bottles