Social Science Business Business Management
CIPS L4M1
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CIPS L4M1 CIPS L4M1 - Question & Answer Past... WPC 480 Exam 1
205 terms Teacher 49 terms Teacher 30 terms
Jon_Lightowler Preview david_dearing Preview joshuawesonga93
In any activity an organization undertakes, whether strategic,
operational or tactical, the activity can only be successful with
the input, commitment and support of its key stakeholders.
Stakeholders Gaining and maintaining the support and commitment of
stakeholders requires a continuous process of engaging the right
stakeholders at the right time and understanding and managing
their expectations.
a dynamic worldwide network when a company purchases or
uses goods or services from overseas. It involves people,
Global Supply Chains information, processes and resources involved in the production,
handling and distribution of materials and finished products or
providing a service to the customer.
takes into account the total cost of a product or service over its
lifetime, from concept through to disposal including purchase,
hire or lease, maintenance, operation, utilities, training and
disposal. It is important for procurement to take all these
Whole Life Costing
elements into consideration when making decisions and
comparing the costs of buying, renting or leasing equipment
particularly. In most cases the purchase costs are only a small
proportion of the cost of operating it.
A systematic way to identify the expectations, needs,
Stakeholder mapping
importance, and relative power of various stakeholders.
Creating value from the supply base can be achieved by not
only focusing on price but also increasing operational
Value Generation
performance, driving efficiencies, working collaboratively or
developing continuous improvement activities.
the cyclical process of key steps when procuring goods or
Procurement Cycle
services.
, 1. Understand Need and develop High level Spec.
2. Market/Commodity and options (inc make or buy assessment).
3. Develop Strategy/plan
4. Pre-procurement market test and market engagement.
5. Develop documentation, PPQ/detailed spec/combine with 1.
6. Supplier selection to participate in ITT/RFQ/negotiation.
Steps of the Procurement Cycle 7. Issue ITT/RFQ.
8. Bid/Tender Evaluation and validation.
9. Contract award and implementation.
10. Warehouse logistics and receipt.
11. Contract performance review and continuous improvement.
12. SRM and SC management and development.
13. Asset management/end of life and lessons learnt.
delivers a great amount of data and intelligence that support the
smooth running of a business. Historically, the purpose of a
contract as a legal document was to protect the parties from
negative consequences of its breaches. Today, when companies
are facing increasing pressures to reduce costs and improve
financial and operational performance, forming and managing
Contract Management new trading relationships is critical for success. How well an
organisation manages its relationships with partners defines the
two core elements of bottom line performance: increasing
revenues and decreasing costs. ... plays an important role by
ensuring the smooth running of operations, protecting the
organisation from risks and shaping the buyer-supplier
relationships (Aberdeen Group, 2007; Saxena, 2008).
E-Procurement systems can be utilised in the Request for
Information (RFI), Request for Proposal (RFP) and Request for
Quotation (RFQ) process as well as for e-Tendering, e-
Application of Technology
Auctioning, vendor management, catalogue management,
purchase ordering, order status, shipment status, e-invoicing, e-
payment and contract management.
relates to the electronic procurement of products or services via
eSourcing / eProcurement
the internet. Other systems such as electronic data interchange
systems P2P
(EDI) and enterprise resource planning (ERP) are also forms of...
The only tripartite U.N. agency, since 1919 it brings together
International Labour governments, employers and workers of 187 member States , to
Organisation set labour standards, develop policies and devise programmes
promoting decent work for all women and men.
is conducted at the tender stage and can be in the form of either
a questionnaire, interview or site visit to assess the supplier's
capability in terms of capacity, financial stability, quality
standards, performance and organisational structure and
processes in place. Both existing and potential suppliers are
Supplier evaluation & appraisal
scored on suitability and either approved or rejected to be
added onto the approved supplier list (ASL). This helps to
improve existing suppliers performance and also can
periodically ensure you have the right sized and fit of suppliers
on you approved list.
CIPS L4M1
Save
Students also studied
Flashcard sets Study guides
CIPS L4M1 CIPS L4M1 - Question & Answer Past... WPC 480 Exam 1
205 terms Teacher 49 terms Teacher 30 terms
Jon_Lightowler Preview david_dearing Preview joshuawesonga93
In any activity an organization undertakes, whether strategic,
operational or tactical, the activity can only be successful with
the input, commitment and support of its key stakeholders.
Stakeholders Gaining and maintaining the support and commitment of
stakeholders requires a continuous process of engaging the right
stakeholders at the right time and understanding and managing
their expectations.
a dynamic worldwide network when a company purchases or
uses goods or services from overseas. It involves people,
Global Supply Chains information, processes and resources involved in the production,
handling and distribution of materials and finished products or
providing a service to the customer.
takes into account the total cost of a product or service over its
lifetime, from concept through to disposal including purchase,
hire or lease, maintenance, operation, utilities, training and
disposal. It is important for procurement to take all these
Whole Life Costing
elements into consideration when making decisions and
comparing the costs of buying, renting or leasing equipment
particularly. In most cases the purchase costs are only a small
proportion of the cost of operating it.
A systematic way to identify the expectations, needs,
Stakeholder mapping
importance, and relative power of various stakeholders.
Creating value from the supply base can be achieved by not
only focusing on price but also increasing operational
Value Generation
performance, driving efficiencies, working collaboratively or
developing continuous improvement activities.
the cyclical process of key steps when procuring goods or
Procurement Cycle
services.
, 1. Understand Need and develop High level Spec.
2. Market/Commodity and options (inc make or buy assessment).
3. Develop Strategy/plan
4. Pre-procurement market test and market engagement.
5. Develop documentation, PPQ/detailed spec/combine with 1.
6. Supplier selection to participate in ITT/RFQ/negotiation.
Steps of the Procurement Cycle 7. Issue ITT/RFQ.
8. Bid/Tender Evaluation and validation.
9. Contract award and implementation.
10. Warehouse logistics and receipt.
11. Contract performance review and continuous improvement.
12. SRM and SC management and development.
13. Asset management/end of life and lessons learnt.
delivers a great amount of data and intelligence that support the
smooth running of a business. Historically, the purpose of a
contract as a legal document was to protect the parties from
negative consequences of its breaches. Today, when companies
are facing increasing pressures to reduce costs and improve
financial and operational performance, forming and managing
Contract Management new trading relationships is critical for success. How well an
organisation manages its relationships with partners defines the
two core elements of bottom line performance: increasing
revenues and decreasing costs. ... plays an important role by
ensuring the smooth running of operations, protecting the
organisation from risks and shaping the buyer-supplier
relationships (Aberdeen Group, 2007; Saxena, 2008).
E-Procurement systems can be utilised in the Request for
Information (RFI), Request for Proposal (RFP) and Request for
Quotation (RFQ) process as well as for e-Tendering, e-
Application of Technology
Auctioning, vendor management, catalogue management,
purchase ordering, order status, shipment status, e-invoicing, e-
payment and contract management.
relates to the electronic procurement of products or services via
eSourcing / eProcurement
the internet. Other systems such as electronic data interchange
systems P2P
(EDI) and enterprise resource planning (ERP) are also forms of...
The only tripartite U.N. agency, since 1919 it brings together
International Labour governments, employers and workers of 187 member States , to
Organisation set labour standards, develop policies and devise programmes
promoting decent work for all women and men.
is conducted at the tender stage and can be in the form of either
a questionnaire, interview or site visit to assess the supplier's
capability in terms of capacity, financial stability, quality
standards, performance and organisational structure and
processes in place. Both existing and potential suppliers are
Supplier evaluation & appraisal
scored on suitability and either approved or rejected to be
added onto the approved supplier list (ASL). This helps to
improve existing suppliers performance and also can
periodically ensure you have the right sized and fit of suppliers
on you approved list.
