Changed L3M2 Exam Questions

Explanation

Audits, CIPS membership and effective training are all likely to foster an ethical culture in a pro-curement department.

Poor salaries or uncontrolled out-of-hours liaisons with supply companies may facilitate undesirable behaviour.

Explanation

SMART

Specific, measurable, achievable, realistic, timebound or similar.

Explanation

The price / cost iceberg.

The notion that when you buy something for a price, only part of the total cost has been exposed. a potentially very significant chunk of cost remains unseen, 'below the waterline'.

Explanation

Buyers should work hard to ensure that their terms and conditions apply to the contract between buyer and seller.

They should seek to win 'the battle of the forms'.