L4M4 Exam Dumps | A procurement manager has decided to use a local newspaper to source quotes from external suppliers.

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CIPS
Ethical and Responsible Sourcing
CIPS.L4M4.v2025-11-05.q105
Question 86

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Question 86/105

A procurement manager has decided to use a local newspaper to source quotes from external suppliers. Why is it important to advertise tenders? Select TWO that apply.

A. To gain tactical sourcing

B. To gain green procurement

C. To gain value for money

D. To avoid complex bids

E. To gain insights from the market

Correct Answer: A,C,D,E

Advertising tenders is crucial for achieving value for money by encouraging competitive bids, which can lead to better pricing and service offerings. It also provides insights into the market by revealing the capabilities and innovations of various suppliers, aiding in informed decision-making.
Exact Extract from Study Guide:
"Inviting suppliers to take part in a competitive tender may reduce the potential for the biased selection of a supplier. Time, money and resource could be saved..."

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