CIPS Updated L5M7 Exam Questions and Answers by ares

Aclosed-loop supply chainreturns used products to the chain forreuse/recycling/remanufacture. Short extract: “closed loop – products/materials re-enter the supply chain.” (L5M7 Study Guide, pp.5–7)

According toMichael Porter’s Value Chain,primary activitiesincludeinbound logistics, operations, outbound logistics, marketing and sales, and service.Procurement and HRaresupport activities.

Short cited term: “primary activities – logistics, operations, marketing and sales” (L5M7 Study Guide, p. 76).

Cost-plus pricingis based onactual material and labour costs plus an agreed marginfor overheads and profit.

Short cited extract: “Cost-plus = actual cost + agreed mark-up for profit/overheads.” (L5M7 Study Guide, p.191)

The main relationship drivers aretrust, communication, duration, and problem-solving. Finance alone does not define the relationship type.

Short cited extract: “Key relational attributes: trust, communication, duration, joint problem-solving.” (L5M7 Study Guide, p. 80)