Managing Supply Chain Risk (L5M2) By Certs Warrior
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L5M2 CIPS Exam Title:
L5M2 MANAGING 
SUPPLY CHAIN RISK
BEST QUALITY L5M2  EXAM
QUESTIONS WITH ANSWERS
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L5M2 CIPS Exam Features
 EXAM CODE:                         L5M2 
 VENDOR NAME:                    CIPS
 QUESTIONS:                           120     &    DURATION:      90
 LAST UPDATED:                      NOV 06, 2022
 LANGUAGES:                               ENGLISH
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L5M2 CIPS Exam Description
Managing Supply Chain Risk (L5M2)
 Module purpose
On completion of this module, learners will be able to 
appraise a variety of tools and techniques to establish the 
level of risk in supply chains and to recommend and apply 
ways of avoiding, mitigating or managing risk.
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L5M2 CIPS Exam Description
Managing Supply Chain Risk (L5M2)
 Module aim(s)
Risk management is a central part of an organization's 
strategy. It is a process whereby the organization will 
identify, record and then address the risks associated with 
their activities with the aim of driving out or controlling 
those risks to the overall benefit of organizational efficiency 
and effectiveness.
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L5M2 CIPS Exam Description
Managing Supply Chain Risk (L5M2)
 Next steps
Joining a CIPS qualification programmed means you will join 
the largest Institute in the world for those working in 
procurement and supply. You can join as a member online 
today. Once you've become a CIPS member you can book 
your examinations online.
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L5M2 CIPS Exam 
KEY MODULE DETAILS
 Choose from a range of valuable study resources to 
support your learning for this module.
 Core Module
 CIPS Global Standard
 Constructed Response 
 Exam Duration 3 Hour
 Module learning time - 120 hours
 12 Credits
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L5M2 Exam Learning Outcomes Details
 1.0  Understand the nature of risk affecting supply chains
 1.1 Define the different types of risk that can impact on supply chains
 Definition of risks, hazards, exposure and risk appetite
 Positive and negative consequences of risk
 Direct and indirect losses
 Internal and external sources of risk
 Categories of risk: financial, strategic, operational and hazard
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L5M2 Exam Learning Outcomes Details
 1.2 Assess operational risks in supply chains
 Contract failure
 Financial risks such as currency, supplier cash flow and insolvency
 Quality failure
 Security of supply
 Technology
 Logistics complexity
 Risks in outsourcing and offshoring
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L5M2 Exam Learning Outcomes Details
 1.3 Compare methods for eliminating bribery, corruption and fraud in supply chains
 Define bribery, corruption and fraud in organization's and supply 
chains
 The different types of corruption
 The different types of fraud
 Legislation affecting bribery and corruption
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L5M2 Exam Learning Outcomes Details
 1.4 Contrast risks in supply chains that can impact on organisational corporate 
social responsibility and sustainability standards
 Defining corporate social responsibility and sustainability
 Assessing corporate risks and risks associated with brand
 Standards for sustainable procurement, suchas; United Nations 
(UN), International Labour Organization (ILO), and the Ethical 
Trading Initiative (ETI) standards
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L5M2 Exam Learning Outcomes Details
 2.0  Understand processes in managing risk in supply chains
 2.1  Examine the use of contractual remedies for managing risks in supply chains
 Indemnities and liabilities
 Ownership of IPR (Intellectual Property Rights)
 The use of force majeure clauses
 Clauses for testing, inspection and acceptance
 Global sourcing considerations and ensuring compliance to 
standards
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L5M2 Exam Learning Outcomes Details
 2.2  Analyse the use of outsourced third parties in risk 
management in supply chains
 The use of outsourced third party providers for 
creditrating and other business services
 The use of outsourced third party providers for 
auditing risks in supply chains
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L5M2 Exam Learning Outcomes Details
 2.3  Assess the use of insurances for protection again strisks in supply 
chains
 The use of insurance in hedging against risks
 The categories of insurance: employers and public liability, 
professional indemnity, product liability and trade credit
 Legal principles of insurance
 Underwriting and claims
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L5M2 Exam Learning Outcomes Details
 2.4  Examine the use of contingency plans to overcome risks in 
supply chains
 The implications of a contingency plan
 The components of a business continuity plan and 
disaster recovery plan
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L5M2 Exam Learning Outcomes Details
 3.0  Understand risk mitigation strategies in supply chains
 3.1  Identify the use of probability and impact assessments to 
m anMaegteh roisdkosl oing iseusp pfolyr  cahsasinesssing the probability and 
impact of risk
 Vulnerability assessments
 Collating statistical evidence of risks
 The use of probability theory
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L5M2 Exam Learning Outcomes Details
 3.2 Analyze a risk assessment and a risk register to mitigate 
risks in a supply chain
 The use of templates for risk assessments and risk 
registers
 Completing risk assessments and risk registers
 Engaging stakeholders in the development of risk 
assessment and registers
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L5M2 Exam Learning Outcomes Details
 3.3 Explain the development of a risk management culture and 
strategy to improve supply chains
 The risk management process
 External reporting of risks in corporate accounts
 Resources required to achieve improved risk 
management in supply chains
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L5M2 Exam Learning Outcomes Details
 3.4 Compare strategic approaches to mitigate risks in supply 
chains
 Developing risk management strategies to mitigate 
risks
 Preparing a contingency plan
 Preparing a business continuity plan and disaster 
recovery plan
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