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CIPS EXAM/63 QUESTIONS AND ANSWERS/100% ACCURATE
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- CIPS EXAM/63 QUESTIONS AND ANSWERS/100% ACCURATE
CIPS EXAM/63 QUESTIONS AND ANSWERS/100% ACCURATE
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CIPS EXAM/63 QUESTIONS AND ANSWERS/100%ACCURATE
Tender Process - -Determine style of tender
Prepare invitation -include info so all bidders understand the need and send
a suitable bid
Send ITT using suitable platform
Receive bids - any bids after deadline date should be disregarded.
Evaluate the bids. Check they meet the required expectations, disregard bids
that are incomplete or bids that are not the correct standard. Evaluate the
bids against the criteria and score. Use a cross functional team so the
process is fair
Award contract and give feedback
Contract management - reduces risk by identifying defects or performance
issues at an early stage
-Restricted tender - -A PQQ is sent out to them shortlist qualifying suppliers,
once shortlisted they receive an ITT. This is used for large/specialised project
usually with a conformance spec.
-Open tenders - -An invitation to bid that is open to all potential suppliers.
This means that any potential suppliers who can meet the requirements of
the invitation to bid is invited to submit a bid.
-competitive dialogue - -Least common, similar to negotiated, the need is
advertised and suppliers are PQQ. Successful suppliers meet to discuss and
agree a solution to the need. Once agreed, the procurement team creates a
tender and give to suppliers and receive their bids.
-negotiated tender - -Very high value project, this is used without any spec,
only the end goal is advertised. The suppliers show interest and then they
are sent a PQQ. The selected suppliers discuss with the buyer how they
would complete the task. This is the dialogue phase. This must include a
minimum of 3 suppliers. They are then invited to submit their bids.
-Internal Stakeholders - -Directors, technical, staff, production, sales &
marketing, finance, HR, storage and distribution
-Connected stakeholders - -Shareholders, end customers, intermediary
customers, suppliers, financial institutions/lenders
-External Stakeholders - -Government, pressure groups, interest groups,
community and society, customers
-Mendelows matrix - -High/low power high/low interest
, -7 effective stakeholder management - -Communication - keep them up to
date
Consultation - ask for feedback and opinions
Empathy - understand how the stakeholder is feeling
Planning - prepare and plan before engaging stakeholders
Relationships - be open and honest fair and reasonable
Risk - understand the risk that stakeholders could present and have a
strategy
Compromise - if the stakeholder has a valid concern then be prepared to
Change strategy and accommodate their feedback
-ROI - -return on investment - profit = sales - cost of goods sold
-Porter's 5 Forces - -1 - degree of competition - a high degree can create
more options for buyers and suppliers, with factors like speed of industry
growth, capacity utilisation, exit barriers, switching costs and diversity of low
competitors
2 - threat of new entrants - low cost manufacturers such as China are
eroding the competitiveness of traditional industries
3 - threat of substitutes - new sets of growing composites, thermosets and
carbon fibre are replacing elements such as steel
4 - power of buyers - increasing power is leveraged over suppliers in the
market when buyers consolidate specs
5 - the power of suppliers - fewer suppliers in a market increases the power
levels among individual suppliers
-Acid Test Ratio - -Quick assets (assets - inventory)/ Current Liabilities
-Current Ratio - -current assets divided by current liabilities
-supply markets and competition - -procurement teams should conduct a
detailed analysis of the marketplace and identify how best to meet forecast
demands against the market conditions predicted for the upcoming year
-supplier analysis - -entails establishing benchmarks through industry
databases, issuing requests for info, conducting value chain analysis and
undertaking supplier research to identify capabilities and financial state of
key suppliers in the existing supply base
-Value Chain Analysis - -Views a firm as a series of business processes that
each add value to the product or service
-Analysing data - -use tools such as porters 5 forces, SWOT Analysis or
supplier analysis, STEEPLE
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