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ISM LEAD Exam Syllabus Topics:

Topic	Details
Topic 1	Risk and Compliance: This domain covers identifying, assessing, and mitigating potential threats while ensuring adherence to regulations in supply management.
Topic 2	Stakeholder Engagement: The section covers cooperating and communicating effectively with internal and external stakeholders impacted by supply chain choices.
Topic 3	Strategy Development: This section covers creating and carrying out long-term supply management plans to meet organisational objectives.
Topic 4	Corporate Social Responsibility and Ethics: This domain covers incorporating ethical and sustainable practices into decision-making and supply chain processes.

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ISM Leadership and Transformation in Supply Management Sample Questions (Q21-Q26):

NEW QUESTION # 21
Which of the following requires a working knowledge of payback and net present value?

A. Capital expenditures budget
B. Direct materials and services budget
C. Indirect (MRO) budget
D. Purchasing and supply operating budget

Answer: A

Explanation:
A working knowledge of payback and net present value (NPV) is required for managing a capital expenditures budget. These financial concepts are essential for evaluating the profitability and financial viability of capital projects. Leadership and transformation management documents emphasize the importance of financial acumen in making informed decisions about significant investments. Understanding payback periods and NPV helps supply managers assess the return on investment and make strategic decisions that align with the organization's long-term goals. Reference highlight that proficiency in these financial tools is critical for managing capital expenditures effectively.
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NEW QUESTION # 22
XYZ, Inc. is in the due diligence phase of an upcoming merger. The team is involved in assessing the cost synergies that can be realized from the merger. Which of the following can be regarded as potential cost synergies?
I . Reduced competition
II . Sharing of marketing channels
III . Increased purchasing power
IV . Elimination of redundancies

A. II and III only
B. III and IV only
C. I, II, III and IV
D. I and IV only

Answer: B

Explanation:
* Cost Synergies in Mergers: Cost synergies refer to the potential cost savings and efficiencies that can be achieved when two companies merge. This typically includes increased purchasing power and the elimination of redundancies.
* Increased Purchasing Power: By merging, the companies can combine their purchasing volumes, leading to better negotiation power with suppliers and reduced procurement costs.
* Elimination of Redundancies: The merger allows the companies to eliminate duplicate functions, systems, and processes, leading to significant cost savings.
* Not Potential Synergies: Reduced competition is not a cost synergy; it's a market effect. Sharing marketing channels is more of a revenue synergy than a cost synergy.
* Reference: This categorization is supported by merger and acquisition literature, including studies from the Harvard Business Review and the Institute of Mergers, Acquisitions, and Alliances (IMAA).

NEW QUESTION # 23
A new supply manager with little experience in procure-to-pay (P2P) systems is looking to evaluate software options for the company. Which of the following is the BEST course of action for the supply manager to take?

A. Recommend the P2P system used at the supply manager's previous company
B. Review third-party research on current P2P solutions
C. Locate a mentor from another company with experience in P2P
D. Ask questions of senior leadership to better understand their P2P needs

Answer: B

Explanation:
For a new supply manager with little experience in procure-to-pay (P2P) systems, reviewing third-party research on current P2P solutions is the best course of action. This approach provides an objective overview of available options, features, and industry best practices. Leadership and transformation management documents stress the importance of informed decision-making and leveraging external expertise when evaluating new systems. By consulting third-party research, the supply manager can gain insights into the strengths and weaknesses of different P2P systems, ensuring a well-informed recommendation. Reference emphasize the value of using independent research to support strategic procurement decisions.

NEW QUESTION # 24
A company's supply management department operates within a risk management framework using ISO 31000:2018. The supply management department reviews strengths, weaknesses, opportunities, and threats and establishes a risk matrix for its threats. Based on ISO 31000:2018, is this sufficient to identify risk and focus?

A. Yes, as the department is employing the best practices for risk management.
B. No, as threats are not relevant to ISO 31000:2018 certification.
C. Yes, as the department has documented the likelihood and severity of the chance or probability of loss.
D. No, as the department must also develop a risk matrix for opportunities.

Answer: D

Explanation:
* Risk Management Framework: ISO 31000:2018 emphasizes a comprehensive approach to risk management, encompassing both threats (negative risks) and opportunities (positive risks).
* Risk Matrix for Opportunities: While the department has established a risk matrix for threats, ISO 31000:2018 requires a balanced view that includes identifying and assessing opportunities.
* Opportunities in Risk Management: Recognizing and managing opportunities can enhance the organization's ability to achieve its objectives and create value, complementing the mitigation of threats.
* Sufficiency of Current Approach: Focusing solely on threats does not fully align with ISO 31000:2018, as it neglects the proactive identification and management of potential positive outcomes.
* Reference: The ISO 31000:2018 standard itself outlines the need to consider both threats and opportunities in the risk management process, as detailed in its guidelines on risk assessment and treatment.

NEW QUESTION # 25
A legal hold order prohibits the deletion or destruction of

A. competitive bidding results and signed contracts
B. physical and electronic documents excluding emails
C. all physical and electronic documents
D. signed contracts only

Answer: C

Explanation:
A legal hold order prohibits the deletion or destruction of all physical and electronic documents. Leadership and transformation management documents emphasize the importance of preserving all relevant information when a legal hold is in place to ensure compliance with legal and regulatory requirements. This includes emails, contracts, competitive bidding results, and any other documents that might be relevant to the legal matter at hand. Reference highlight the necessity of comprehensive document retention to protect the organization and ensure that all potentially relevant information is available for legal proceedings.

NEW QUESTION # 26
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LEAD Free Sample Questions - Test LEAD Registration

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ISM Leadership and Transformation in Supply Management Sample Questions (Q21-Q26):

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