RELIABLE LEAD TEST PREPARATION & RELIABLE LEAD EXAM BLUEPRINT

Reliable LEAD Test Preparation & Reliable LEAD Exam Blueprint

Reliable LEAD Test Preparation & Reliable LEAD Exam Blueprint

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Tags: Reliable LEAD Test Preparation, Reliable LEAD Exam Blueprint, New LEAD Exam Practice, LEAD Exam Sample, Exam Dumps LEAD Free

Are you planning to attempt the ISM LEAD certification exam and don't know where to study for it and pass it with good marks? ActualCollection has designed the Leadership and Transformation in Supply Management (LEAD) Questions, especially for the students who want to pass the LEAD Certification Exam with good marks in a short time. These Leadership and Transformation in Supply Management (LEAD) practice test questions are available in three different formats that you can carry with you anywhere and even do preparation in extra or free time with ease.

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ISM Leadership and Transformation in Supply Management Sample Questions (Q149-Q154):

NEW QUESTION # 149
An audit of a supply management organization states that the department would likely benefit from the use of electronic signatures. Which of the following steps should be taken FIRST in the corrective action process?

  • A. Research how industry counterparts use electronic signatures
  • B. Work with the IT department to purchase an electronic signature program
  • C. Assess the costs and benefits of implementing an electronic signature
  • D. Evaluate whether electronic signatures are secure

Answer: D

Explanation:
* Audit Recommendation: The audit suggests that the supply management organization could benefit from using electronic signatures, indicating a need to modernize and potentially streamline processes.
* First Step - Security Evaluation: Before any implementation, it is crucial to ensure that electronic signatures are secure. This involves evaluating their security features, compliance with legal requirements, and potential vulnerabilities.
* Importance of Security: Electronic signatures must meet legal standards and protect the integrity and authenticity of documents to be a viable replacement for handwritten signatures.
* Reference: Security evaluation is a fundamental step in implementing any new technology, as emphasized in IT governance and management frameworks such as COBIT (Control Objectives for Information and Related Technologies) and NIST (National Institute of Standards and Technology) guidelines.
* Next Steps: Once security is assured, the organization can proceed to assess costs and benefits, research industry practices, and work with IT for implementation.


NEW QUESTION # 150
A manufacturing company wants to do a better job of tracking prices and evaluating trends. It wishes to employ an index within contracts to determine yearly increases or decreases. In this situation, the company would be BEST served by consulting which of the following?

  • A. Bureau of Labor Statistics
  • B. Automotive News
  • C. Chicago's Business Barometer
  • D. CAPS research

Answer: A

Explanation:
To track prices and evaluate trends effectively, the manufacturing company would be best served by consulting the Bureau of Labor Statistics (BLS).
BLS Data: The BLS provides comprehensive data on various economic indicators, including the Producer Price Index (PPI) and Consumer Price Index (CPI), which are essential for tracking price trends and inflation.
Index Use: These indices can be used within contracts to determine yearly price adjustments based on changes in the economic environment, ensuring fair and transparent pricing mechanisms.
Reference:
Bureau of Labor Statistics. (2021). Producer Price Index (PPI). [Online]. Available: https://www.bls.gov/ppi/ Bureau of Labor Statistics. (2021). Consumer Price Index (CPI). [Online]. Available: https://www.bls.gov/cpi/


NEW QUESTION # 151
Which of the following is an example of a before-the-fact management control?

  • A. Internal customer survey
  • B. Process benchmarking
  • C. Audit review
  • D. Policies and procedures manual

Answer: D

Explanation:
A policies and procedures manual is an example of a before-the-fact management control. Before-the-fact controls are proactive measures designed to guide employee actions and prevent issues before they arise. Leadership and transformation management documents stress the importance of establishing clear guidelines and procedures to ensure consistent and compliant operations. A policies and procedures manual provides detailed instructions and expectations for employees, helping to prevent deviations from standard practices. Reference emphasize that such manuals are essential tools for maintaining control over organizational processes and ensuring alignment with strategic goals.


NEW QUESTION # 152
The chief procurement officer (CPO) for a large municipal government obtains funding for a new e-procurement system. After the system has been operational for a year, the city council's finance committee requests a status report, with emphasis on whether or not the system has realized projected benefits. Future funding for e-procurement depends on whether the council is satisfied with progress. Though the system has yielded many positive results, savings have not yet met expectations. Given this situation, which of the following is the BEST approach for the CPO to take to address the council's concerns?

  • A. Revise organizational procedures for better system reporting
  • B. Compare the system's performance to the service level agreement
  • C. Provide detailed data on cost savings per order
  • D. Document planned and achieved process improvements

Answer: D

Explanation:
Given that the e-procurement system has yielded many positive results but has not yet met savings expectations, the best approach for the CPO is to document planned and achieved process improvements.
Process Improvements: Documenting both planned and achieved improvements provides a comprehensive view of the system's impact beyond immediate cost savings. It shows the long-term benefits and efficiencies gained through the new system.
Transparency: This approach offers transparency to the finance committee, demonstrating that while savings are still materializing, significant strides have been made in improving procurement processes.
Future Benefits: Highlighting process improvements can help justify the initial investment by showing potential future savings and efficiencies, which can reassure the council about the system's long-term value.
Reference:
Gunasekaran, A., & Ngai, E.W.T. (2008). Adoption of e-procurement in Hong Kong: An empirical research. International Journal of Production Economics, 113(1), 159-175.
Thai, K.V. (2009). International Handbook of Public Procurement. CRC Press.


NEW QUESTION # 153
TUV, Ltd. is a firm based in the United Kingdom. TUV engages a contractor in Malaysia to construct new production and testing facilities located within Malaysia's capital city. Midway through the project, TUV's supply manager realizes that there is no formal retention policy in place for safety records. Given this situation, which of the following is the MOST appropriate course of action for the supply manager to take?

  • A. Use the contractor's program for a similar international project
  • B. Convene a meeting between TUV and the contractor to develop a joint program
  • C. Direct the contractor to develop a records retention program for the entire project
  • D. Adopt the record retention program TUV currently uses for domestic operations

Answer: B

Explanation:
* Stakeholder Engagement: Developing a joint records retention program ensures that both parties have a say in the process, leading to better alignment and adherence to the agreed standards.
* Custom Solution: A joint program can be tailored to the specific needs of the project, considering the regulatory requirements of Malaysia and the operational practices of TUV.
* Risk Management: Ensuring proper retention of safety records is crucial for compliance and risk management. A collaborative approach ensures comprehensive coverage of all necessary aspects.
* Building Partnerships: Engaging the contractor in developing the program fosters a collaborative working relationship, which can be beneficial for the project and future engagements.
* Reference: This approach is supported by project management and supply chain best practices, such as those outlined by the Project Management Institute (PMI) and the International Association for Contract and Commercial Management (IACCM).


NEW QUESTION # 154
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