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EUNICE CIPS L4M1 WITH QUESTIONS AND 100% SURE ANSWERS O1. Outline FIVE differences between purchasing goods and purchasing services. 1. Goods are tangible, services are intangible: 2. Services cannot be separated from their supplier: 3. HeterogeR181,61
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EUNICE CIPS L4M1 WITH QUESTIONS AND 100% SURE ANSWERS O1. Outline FIVE differences between purchasing goods and purchasing services. 1. Goods are tangible, services are intangible: 2. Services cannot be separated from their supplier: 3. Heteroge
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Course
Social Science
Institution
Social Science
EUNICE
CIPS L4M1 WITH QUESTIONS AND 100% SURE ANSWERS
O1. Outline FIVE differences between
purchasing goods and purchasing services. 1. Goods are tangible, services are intangible:
2. Services cannot be separated from their supplier:
3. Heterogeneity: goods are usually uniform i...
L4M1 Chapter 2: Key steps when procuring goods or
servicesWITH 100% SURE ANSWERS
Terms in this set (50)
What added value do structured Consistent best practice, less scope for laws and regs deviance, reduced opp for
procurement processes provide? duplicated effort, faster procurement
Coordination of effort and collaboration between parties; process and outcomes
Advantages of formal, systematic approach consistency; prevents conflict (reference point); mandating most efficient approach;
to structuring processes and procedures (8) good governance and managerial control; compliance with standards, laws ands regs;
documentation / sharing good practice.
1. Understand need, high level spec 2. Market / commodity options, make or buy 3.
CIPS Procurement Cycle (Sourcing / Pre- Strategy 4. Pre-proc, market test and engagement 5. Develop documentation 6.
contract) stages (9) Supplier selection to participate in ITT / RFQ 7. Issue ITT / RFQ 8. Evaluation and
validation 9. Contract award and implementation
STAGE 1 - Purpose and value of specification Encourage accurate bids; communicate expectations; fair bid evaluation; supplier
(5) performance measurement; generate competition
STAGE 2 - Supplier Appraisal, evaluation or Formal, systematic approach to collecting information and identifying capable
pre-qualification suppliers.
Supplier databases; catalogues (e-catalogues) and websites; trade/industry magazines
STAGE 2 - Possible sources of information
and procurement journals; Trade fairs and conferences; Procurement professional
about potential suppliers (5)
networking
Internal competence availability and capacity low = buy, if internal competence
STAGE 2 - Make (do) or Buy decision
availability and capacity low = buy
Value (extracting resources otherwise inactive); potential to reduce lead time; control
STAGE 2 - Key reasons for an organisation
(quality and production); confidentiality (production); Supply risk (unreliable suppliers
making a product or performing a service (5)
for essential items).
STAGE 2 - Why is the procurement function Supply market familiarity, supplier evaluation and selection, price negotiation, service
in a good position to add value through quality and spec, contract and relationship management.
assessing Make or Buy? (5)
Bidders submit form tenders legally capable of being accepted, strict instructions for
STAGE 3 - Formal bid, Invitation to Tender
compliant tenders (more complex goods/services)
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