Cips - Study guides, Class notes & Summaries

CIPS L4M8 Chapter 1 Questions and Answers 100% Pass The 13 Stages of the Procurement Cycle - Correct Answer ️️ -Stage 1 - Identify need and develop spec. Stage 2 - Market commodity/make or buy options. Stage 3 - Develop Strategy/Plan Stage 4 - Pre procurement market tests Stage 5 - Prepare Documentation Stage 6 - Supplier Selection Stage 7 - Send ITT Stage 8 - Receive & Evaluate Bids Stage 9 - Award contract Stage 10 - Warehouse/logistics prep Stage 11 - Contract management Sta...

CIPS LATEST UPDATE WITH COMPLETE SOLUTIONS 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...

CIPS Level 4 Module 1 questions and answers 2024/2025The Purchasing process - correct answer 1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Follow up Definition of Procurement & Supply - correct answer recognition of the fact that the purchasing function has a role in not just "buying inputs" but in "securing supply" Direct Costs - correct answer These are costs which can be identified directly with the production of a ...

CIPS L4M8 Exam Verified 100% Correct!! Stage 13: Assest management/end of life The procurement professional should evaluate whether the need is still current. If it is and unchanged, the procurement 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 Anti-bribery procedures -Proportionate procedures: should be in line with...

CIPS l4m8 Exam Questions And Answers S in STEEPLED - ANS Socio Cultural T in STEEPLED - ANS Technological 3 Es in STEEPLED - ANS Economic Environmental Ethical P in STEEPLED - ANS Political L in STEEPLED - ANS Legal D In STEEPLED - ANS Demographic factors The STEEPLED analysis - ANS Popular tool for analysing the macro environment 5 forces model - ANS Threat from new entrants Threat from substitutes Buyers bargaining power Suppliers...

CIPS L4M8 LO2 Exam Questions and Answers 100% pass what are the stages of ordering? - Correct Answer ️️ -1) user need 2) raise requisition 3) approved process 4) issue PO 5) receive goods/service 6) approve invoice what are the stages of sourcing? - Correct Answer ️️ -1) understand the need 2) develop strategy 3) raise requisition 4) source suppliers 5) issue ITT/RFQ 6) negotiate and award contract 7) SRM/contract management in what locations can sourcing take place? - Cor...

CIPS L4M2 Exam Questions with correct answers 2024/2025When should Competitive bidding not be used? - correct answer Where price cannot be establish with certainty Where price isn't the only variable Where there are significant set up costs involved Which 3 types of Whole Life Costing (WLC) models can be used in the planning stage? - correct answer Decision support models Simulation models Optimisation models What do Decision Support models do in WLC? - correct answer Identify the ...

CIPS L4M1 Scope and Influence of Procurement and Supply correctly answered 2024 What is Procurement? - correct answer Procurement is a STRATEGIC function of a business obtains something Tangible as goods or Intangible as services. Include Purchasing Inventory, Logistics, Supply, Waste Management Quality, Cost, Added Value What is Purchasing? - correct answer Is the ACT of physically ordering and buying something. What is Supply? - correct answer Is the INFRASTRUCTURE which ensures that...

CIPS L4M2When should Competitive bidding not be used? - correct answer Where price cannot be establish with certainty Where price isn't the only variable Where there are significant set up costs involved Which 3 types of Whole Life Costing (WLC) models can be used in the planning stage? - correct answer Decision support models Simulation models Optimisation models What do Decision Support models do in WLC? - correct answer Identify the issue to find possible alternatives What do...

CIPS L4M8 Chapter 1 Exam Questions And Answers The 13 Stages of the Procurement Cycle - ANS Stage 1 - Identify need and develop spec. Stage 2 - Market commodity/make or buy options. Stage 3 - Develop Strategy/Plan Stage 4 - Pre procurement market tests Stage 5 - Prepare Documentation Stage 6 - Supplier Selection Stage 7 - Send ITT Stage 8 - Receive & Evaluate Bids Stage 9 - Award contract Stage 10 - Warehouse/logistics prep Stage 11 - Contract management Stage 12 - Relatio...