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Procurement and Supply in Practice [L4M8]©

In: CIPS
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Module Purpose: On completion of this module, learners will be able to demonstrate the practical application of the key elements of the procurement cycle in an integrated manner, within a workplace context.

Module Aim: Procurement is the business function that ensures identification, sourcing, access and management of external resources that an organisation needs or may need to successfully fulfil its strategic objectives. It exists to explore supply market opportunities and to implement resourcing strategies that deliver the best possible supply outcomes to the organisation, its stakeholders and customers. In today’s volatile global trading environments, it is not enough for procurement and supply professionals to simply know the theory behind their profession; they must also be in a position to confidently and effectively apply that knowledge to the benefit of the whole organisation, its stakeholders and customers. This module is designed to test the practical application of procurement and supply concepts and ideas within the practical environments which professionals are expected to perform.

Fhyzics Business Consultants is an Approved Study Centre of Chartered Institute of Procurement and Supply (CIPS), UK and offering all the modules under Level-2, Level-3, Level-4, Level-5, and Level-6. During this current COVID-19 pandemic, the classes are offered in distance and self-study modes. For more questions related to our CIPS programs, please speak to our Manager-Certifications at +91-900-304-9000 or email at certifications@fhyzics.net.

Online, Instructor-Led Training Program on Procurement and Supply in Practice [L4M8] Module of Diploma in Procurement and Supply, CIPS, UK

CIPS Online Courses

Mode of Delivery: Online
Mode of Teaching: Using the Presentation Deck from CIPS, UK
Duration: 3 Hours
Faculty: Venkadesh Narayanan, CIPS Recognized Instructor
Reference Material: L4M8 Study Guide
Level-4: Diploma in Procurement and Supply

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Procurement and Supply in Practice - LEARNING OUTCOMES

1.0 Demonstrate the application of the procurement cycle
1.1 Apply the key stages of the procurement cycle to the practical procurement and supply environment 
The practical application of the CIPS Procurement Cycle:
• Defining business need,
• Market analysis and testing,
• Supplier evaluation,
• Tendering processes,
• Supplier and stakeholder management

2.0 Demonstrate the application of the key stages of the sourcing process
2.1 Apply the key stages of the sourcing process to thempractical procurement and supply environment
Stages of the sourcing process:
• Creation of contract terms,
• Supplier selection,
• Contract award
• Contract or supplier management

3.0 Demonstrate the application of whole life asset management
3.1 Apply whole life asset management to the practical procurement and supply environment
• Include all costs – purchase price through to disposal and end-of-life
• Hidden costs – global sourcing, risks associated with extended supply chain
• Only develop for larger purchases
• Ensure senior management support
• Cross functional support – ensure access to data
• Team working – reduce data collection time
• Decommissioning
• Removal or disposal processes
• Legal aspects – waste management

4.0 Demonstrate the application of ethical and responsible sourcing within an organisation
4.1 Apply ethical and responsible sourcing to the practical procurement and supply environment
• Bribery, Corruption, Fraud, Human rights, Modern slavery
• Application of the CIPS Code of Conduct
• Ethical codes of practice
• Environmental factors
• Supporting information on ethical practices in supplier quotations and tenders
• Supplier monitoring and KPIs
• The triple bottom line – profit, people and planet
• Adopt sustainable practices, standards and specifications in the supply chain
• Consider the social impact of the organisation’s behaviours.
• Expand reporting frameworks to include ecological
and social performance

 

Tags: CIPS, Level-4

Written by Venkadesh Narayanan

Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development.

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