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.
Certified Inventory Optimization Professional
CIOP is a global supply chain management and inventory management certification program exclusively developed for corporations to optimize the inventory in their supply chain. CIOP teaches the global best practices in 30 modules over 90 hours of live, faculty-led, online training. It is founded on Inventory Management Body of Knowledge (IMBoK) version 3.0. CIOP is a comprehensive program includes training, reference material, Learning Management and Assessment System (LMAS), examination and certificate.
The LMAS contains classroom presentations, classroom notes, video lessons, audio lessons, quizzes, reference materials, terminologies and articles recommended by faculty.
The CIOP Examination is 3 hours, online, proctored examination with 180 multiple-choice questions. The participant needs to secure 70% of the maximum score (360 marks) to pass in the examination.
You can learn more about the CIOP certification in the below links:
CIOP Website: https://pages.fhyzics.net/ciop
Faculty Profile: https://pages.fhyzics.net/principal-consultant
Click here to request quote for the CIOP certification program.
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
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
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 the practical 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
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