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CIPS M4L8 (Procurement and Supply) STUDY GUIDE RATED A.
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CIPS M4L8 (Procurement and Supply) STUDY GUIDE RATED A.
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CIPS M4L8 (Procurement and Supply) STUDY GUIDE RATEDA.
1. Stage 13: As- The procurement professional should evaluate whether
sest manage- the need is still current. If it is and unchanged, the procure-
ment/end of life ment cycle process commences again but from a different
stage as the need is already known and understood. If the
need is not required the buyer should manage the end of
life by reducing stock levels and informing the supplier
2. Anti-bribery pro- -Proportionate procedures: should be in line with the ype
cedures of bribery risk and scale that is likely to be faced
-Top level commitment: High level execs should set an
example and issue statements, updates and feedback on
the procedures and expectations
-Risk assessment: Regular and documented risk assess-
ment of the likelihood and impact of bribery
-Due diligence: Documented procedures should cover
and be enforced by all of the organisation within the
supply chain
-Communication: Ongoing training and updates should
be provided to keep the organisation and its workforce
aware of current developments
-Monitoring and reviewing: Methods should be imple-
mented to review compliance with the policies and pro-
cedures
3. Busisness case -Introduction
for whole life as- -Objective
set management -Approach
-Resources
-Benefits
4. Procurement Cy- the cyclical process of key steps when procuring goods or
cle services.
,CIPS M4L8 (Procurement and Supply) STUDY GUIDE RATED
A.
5. Steps of the Pro- 1. Understand Need and develop High level Spec.
curement Cycle 2. Market/Commodity and options (inc make or buy as-
sessment).
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/negotia-
tion.
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 im-
provement.
12. SRM and SC management and development.
13. Asset management/end of life and lessons learnt.
6. Terms and Con- are a very important element of developing contracts,
ditions and the helping to minimise contractual risks and exposure when
Developing of doing business.
Contracts
7. Supplier Evalua- the process of evaluating and approving existing and
tion potential suppliers by quantitative assessment against
specific business criteria.
8. Sourcing a critical activity that commands increasing attention as
managing supply chains becomes more complex (Traut-
mann et al., 2009). It is used at both tactical and strategic
levels and is concerned with what needs to be purchased
(product/service), in what quantities, for what purpose
and where.
9. Whole life cycle takes into account the total cost of a product or service
costing over its lifetime, from concept through to disposal in-
cluding purchase, hire or lease, maintenance, operation,
utilities, training and disposal. It is important for procure-
ment to take all these elements into consideration when
,CIPS M4L8 (Procurement and Supply) STUDY GUIDE RATED
A.
making decisions and
comparing the costs
of buying,
, CIPS M4L8 (Procurement and Supply) STUDY GUIDE RATED
A.
renting or leasing equipment particularly. In most cases
the purchase costs are only a small proportion of the cost
of operating it.
10. Corporate So- a way of ensuring that the business monitors its compli-
cial Responsibil- ance with the law and industry standards. It embraces
ity (CSR) the company's obligations and creates a positive impact
through its activities and in some cases relates to a com-
pany going beyond its obligations in terms of its effect on
the environment and impact on social welfare.
11. Diversity and In- Businesses not only have a responsibility to respect and
clusion value all forms of difference including race and ethnicity,
culture and belief, gender and sexuality, age and social
status and ability. There is also a huge business advan-
tage to be had: diverse teams are more innovative, but
also people want to be part of them and stay part of them.
12. Modern Slavery possession or control of a person deprived of their rights
with the intention of exploiting them
13. Sustainable and consider the impact of environmental, economic and so-
Ethical Procure- cial factors along with price and quality. This is important
ment in terms of how the buyer conducts their relationship with
suppliers, including contract negotiation especially when
sourcing globally with unfamiliar work cultures.
14. Supplier Diversi- A proactive business program which encourages the
ty use of minority-owned, women owned, veteran owned,
LGBT-owned [1], service disabled veteran owned, his-
torically underutilized business, and Small Business Ad-
ministration (SBA)-defined small business concerns as
suppliers.
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