CIPS L6M8 - Innovation in Procurement and Supply;Questions And Answers.
Supply chain integration - answer:-Supply chain integration requires the procurement
professional to develop strategic collaboration with key supply chain partners and
understand customer requirements.
Behaviours to enhance innovation - answer:-Pellathy identified 3 key behaviours that
affect how individuals engage with each other:
1, Task behaviours - how an individual executes tasks of their role
2, Organisational citizenship - the quality of a person's interpersonal actions and to
challenge change while accommodating others
3, Counterproductive work behaviours - challenging individuals
Early Supplier Involvement - answer:-Supplier Involvement is the result of cooperation
between suppliers and the organisation at the product conceptualisation stage.
Suppliers will need to determine the extent to which they are willing to invest in working
with organisation on innovation and procurement & supply
Supplier Involvement - answer:-Supplier involvement is essential for improving supply
chain effectiveness and contributes to managing the tensions between cost, time and
quality.
Innovation councils - answer:-Innovation councils provide a governance structure which
can be used to coordinate and maximise innovation throughout the supply chain,
coordinating concurrent innovation efforts across multiple stakeholders within the
organisation.
Supplier forums & associations - answer:-Gaining access to diverse perspectives gives
the procurement professional access to different world views, information & ideas that
can help to drive the development of innovation in the procurement and supply function
and the supply chain.
Supplier forums & associations - answer:-Provide the opportunity for the procurement
professional to meet with other professionals who may be able to offer a new
perspective on a particular challenges or opportunities.
Professional associations offer access to research, training courses, resources, peer
networks and discussion forums.. this exposes the procurement professional to current
thinking, market changes and technical and practice changes.
technology transfer - answer:-The organisation can enhance its business operations by
combining innovation to develop new products with technology transfer to secondary
supply partners for existing products.
technology transfer - answer:-Technology transfer can affect the breadth of distribution
avenues , opening up new market places and opportunities for an organisations
products and services
, CIPS L6M8 - Innovation in Procurement and Supply;Questions And Answers.
Data Analytics - answer:-As of 2016, only 28% of organisations ahd incorporated a big
data initiative and 85% did not have the IT capacity to maganage a database of a
petabyte
Advanced analytics - answer:-The subsets of Advanced analytics:
1, Descriptive analytics - dashboards for ad hoc reporting i.e. what happened?
2, Predictive analytics - Real-time & historical data to make predictions based on
probability i.e. forecasting using Alogorythims & machine-based learning
3, Prescriptive analytics - Utilises predictions based on data i.e. scenario analysis, game
theory, simulation
Data analytics - answer:-Data analytics can be used to help the procurement
professional better understand the capacity of suppliers in the supply chain.
Data integration tools in system technology - answer:-Data integration is a digital
process of integrating and mining data from disparate systems using integrations tools
such as:
1, API - Tightly coupled systems integration - Application programming interface -
requests data from various systems e.g. CRM, ERP, SCM - Makes the request,
transports response and translates the response for reporting purposes.
2, SOA - Service-orientated architecture - Promotes loose coupling & greater flexibility
meaning changes in one functions system do not directly affect another functions
system.
3, ESB - Enterprise Service Bus - A customised central hub which helps to connect
distinct systems and applications, enabling them to communicate.
4, iPaaS - Integrated platform as-a-service - Cloud based tool that uses web service
protocols to manage integration.
Data integration tools in system technology (4):
API - Application programming interface - answer:-Tightly coupled systems integration
that requests data from various systems e.g. CRM, ERP, SCM - Makes the request,
transports response and translates the response for reporting purposes.
Data integration tools in system technology (4):
, CIPS L6M8 - Innovation in Procurement and Supply;Questions And Answers.
SOA - Service-orientated architecture - answer:-Promotes loose coupling & greater
flexibility meaning changes in one functions system do not directly affect another
functions system.
Data integration tools in system technology (4):
ESB - Enterprise Service Bus - answer:-A customised central hub which helps to
connect distinct systems and applications, enabling them to communicate.
Data integration tools in system technology (4):
iPaaS - Integrated platform as-a-service - answer:-Cloud based tool that uses web
service protocols to manage integration.
(7) Forms of e-procurement:
EDI - Electronic Data Interchange Networks - answer:-EDI - Electronic Data Interchange
Networks - Suppliers and Buyers linked through a private network called an EDI.
Automate procurement processes including inventory replenishments.
(7) Forms of e-procurement:
B2E - Business to employee requisition applications - answer:-Enable self service
procurement within the organisational structure to speed up the buying approval
process and standardise requisition proceedures
(7) Forms of e-procurement:
Corporate Procurement Portals - answer:-For buying production and non-production
related goods required for day to day production and business operations.
(7) Forms of e-procurement:
First-generation trading exchanges - answer:-Centralised online marketplace for
RFQ/RFPs - pre-approved groups of suppliers submit proposals. Buyer can evaluate
potential suppliers and make informed decisions.
Information and content hubs such as storefronts and online trading exchanges.
Provide insights, news, trends and production information as well as forums and bulletin
boards
(7) Forms of e-procurement:
Supply chain integration - answer:-Supply chain integration requires the procurement
professional to develop strategic collaboration with key supply chain partners and
understand customer requirements.
Behaviours to enhance innovation - answer:-Pellathy identified 3 key behaviours that
affect how individuals engage with each other:
1, Task behaviours - how an individual executes tasks of their role
2, Organisational citizenship - the quality of a person's interpersonal actions and to
challenge change while accommodating others
3, Counterproductive work behaviours - challenging individuals
Early Supplier Involvement - answer:-Supplier Involvement is the result of cooperation
between suppliers and the organisation at the product conceptualisation stage.
Suppliers will need to determine the extent to which they are willing to invest in working
with organisation on innovation and procurement & supply
Supplier Involvement - answer:-Supplier involvement is essential for improving supply
chain effectiveness and contributes to managing the tensions between cost, time and
quality.
Innovation councils - answer:-Innovation councils provide a governance structure which
can be used to coordinate and maximise innovation throughout the supply chain,
coordinating concurrent innovation efforts across multiple stakeholders within the
organisation.
Supplier forums & associations - answer:-Gaining access to diverse perspectives gives
the procurement professional access to different world views, information & ideas that
can help to drive the development of innovation in the procurement and supply function
and the supply chain.
Supplier forums & associations - answer:-Provide the opportunity for the procurement
professional to meet with other professionals who may be able to offer a new
perspective on a particular challenges or opportunities.
Professional associations offer access to research, training courses, resources, peer
networks and discussion forums.. this exposes the procurement professional to current
thinking, market changes and technical and practice changes.
technology transfer - answer:-The organisation can enhance its business operations by
combining innovation to develop new products with technology transfer to secondary
supply partners for existing products.
technology transfer - answer:-Technology transfer can affect the breadth of distribution
avenues , opening up new market places and opportunities for an organisations
products and services
, CIPS L6M8 - Innovation in Procurement and Supply;Questions And Answers.
Data Analytics - answer:-As of 2016, only 28% of organisations ahd incorporated a big
data initiative and 85% did not have the IT capacity to maganage a database of a
petabyte
Advanced analytics - answer:-The subsets of Advanced analytics:
1, Descriptive analytics - dashboards for ad hoc reporting i.e. what happened?
2, Predictive analytics - Real-time & historical data to make predictions based on
probability i.e. forecasting using Alogorythims & machine-based learning
3, Prescriptive analytics - Utilises predictions based on data i.e. scenario analysis, game
theory, simulation
Data analytics - answer:-Data analytics can be used to help the procurement
professional better understand the capacity of suppliers in the supply chain.
Data integration tools in system technology - answer:-Data integration is a digital
process of integrating and mining data from disparate systems using integrations tools
such as:
1, API - Tightly coupled systems integration - Application programming interface -
requests data from various systems e.g. CRM, ERP, SCM - Makes the request,
transports response and translates the response for reporting purposes.
2, SOA - Service-orientated architecture - Promotes loose coupling & greater flexibility
meaning changes in one functions system do not directly affect another functions
system.
3, ESB - Enterprise Service Bus - A customised central hub which helps to connect
distinct systems and applications, enabling them to communicate.
4, iPaaS - Integrated platform as-a-service - Cloud based tool that uses web service
protocols to manage integration.
Data integration tools in system technology (4):
API - Application programming interface - answer:-Tightly coupled systems integration
that requests data from various systems e.g. CRM, ERP, SCM - Makes the request,
transports response and translates the response for reporting purposes.
Data integration tools in system technology (4):
, CIPS L6M8 - Innovation in Procurement and Supply;Questions And Answers.
SOA - Service-orientated architecture - answer:-Promotes loose coupling & greater
flexibility meaning changes in one functions system do not directly affect another
functions system.
Data integration tools in system technology (4):
ESB - Enterprise Service Bus - answer:-A customised central hub which helps to
connect distinct systems and applications, enabling them to communicate.
Data integration tools in system technology (4):
iPaaS - Integrated platform as-a-service - answer:-Cloud based tool that uses web
service protocols to manage integration.
(7) Forms of e-procurement:
EDI - Electronic Data Interchange Networks - answer:-EDI - Electronic Data Interchange
Networks - Suppliers and Buyers linked through a private network called an EDI.
Automate procurement processes including inventory replenishments.
(7) Forms of e-procurement:
B2E - Business to employee requisition applications - answer:-Enable self service
procurement within the organisational structure to speed up the buying approval
process and standardise requisition proceedures
(7) Forms of e-procurement:
Corporate Procurement Portals - answer:-For buying production and non-production
related goods required for day to day production and business operations.
(7) Forms of e-procurement:
First-generation trading exchanges - answer:-Centralised online marketplace for
RFQ/RFPs - pre-approved groups of suppliers submit proposals. Buyer can evaluate
potential suppliers and make informed decisions.
Information and content hubs such as storefronts and online trading exchanges.
Provide insights, news, trends and production information as well as forums and bulletin
boards
(7) Forms of e-procurement:
