Cips l4m8 lo1 - Study guides, Class notes & Summaries

CIPS L4M8 LO1 Name all stages of the Procurement Cycle? - correct answer 1) understand need and develop a high-level specification 2) market/commodity options including make vs buy assessment 3) develop strategy/plan 4) pre-procurement market tests and market engagement 5) development of required documentation, e.g request for quotation (RFQ) 6) supplier selection to participate in an invitation to tender (ITT) exercise 7) issue ITT/RFQ 8) bid/tender/quotation evaluation and validation ...

CIPS L4M8 LO1 fully solved graded A+ passed 2024/2025Name all stages of the Procurement Cycle? - correct answer 1) understand need and develop a high-level specification 2) market/commodity options including make vs buy assessment 3) develop strategy/plan 4) pre-procurement market tests and market engagement 5) development of required documentation, e.g request for quotation (RFQ) 6) supplier selection to participate in an invitation to tender (ITT) exercise 7) issue ITT/RFQ 8) bid/tende...