CIPS L4M1 EXAM STUDY GUIDE SUMMARIZED AND

CIPS L4M1 EXAM STUDY GUIDE SUMMARIZED AND

1. Stakeholders 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. 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.
2. Global Supply
Chains
3. Whole Life Costing
4. Stakeholder
mapping
a dynamic worldwide network when a company purchases or uses goods or services from overseas. It involves
people, 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 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,
importance, and relative power of various stakeholders.
5. Value Generation Creating value from the supply base can be achieved by
not only focusing on price but also increasing operational
performance, driving efficiencies, working collaboratively
or developing continuous improvement activities.
6. Procurement Cycle
7. Steps of the Procurement Cycle
the cyclical process of key steps when procuring goods or
services.
1. Understand Need and develop High level Spec.
2. Market/Commodity and options (inc make or buy assessment).
3. Develop Strategy/plan