CIPS Exam with Complete Solutions 100% Pass
Compromise - if the stakeholder has a valid concern then be prepared to Change strategy and
accommodate their feedback
ROI Correct Ans-return on investment - profit = sales - cost of goods sold
CIPS Exam with Complete Solutions 100% Pass
Compromise - if the stakeholder has a valid concern then be prepared to Change strategy and
accommodate their feedback
ROI Correct Ans-return on investment - profit = sales - cost of goods sold
Porter's 5 Forces Correct Ans-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 Correct Ans-Quick assets (assets - inventory)/ Current Liabilities
Current Ratio Correct Ans-current assets divided by current liabilities
supply markets and competition Correct Ans-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
, CIPS Exam with Complete Solutions 100% Pass
supplier analysis Correct Ans-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 Correct Ans-Views a firm as a series of business processes that each
add value to the product or service
Analysing data Correct Ans-use tools such as porters 5 forces, SWOT Analysis or supplier
analysis, STEEPLE
TIPS TO IMPROVE MARKET ANALYSIS Correct Ans-make market intelligence a part of
organisational learning, encourage buyers to develop a market based attitude and awareness.
Management should implement policies and practices that support these attitudes
Regularly review the legal developments that may have an impact on the methods of
collecting competitor info
make employees aware of the companies policy on black information and inethical/illegal
methods of collecting this info.
Tender Process Correct Ans-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.
, CIPS Exam with Complete Solutions 100% Pass
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 Correct Ans-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 Correct Ans-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 Correct Ans-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 Correct Ans-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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GOLDTUTORS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
