Lo1 Study guides, Revision 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...

CIPS L5M9 Operations Management LO1.

CIPS L5M9 Operations Management LO1 Exam Questions & Answers 2024/25 Operations Management - ANSWERSThe processes of managing the resources and processes involved in the acquisition and transformation of inputs and the distribution of outputs. Five Key Performance Dimensions / Performance Objectives - Slack and Brandon-Jones - ANSWERS1. Quality 2. Speed 3. Dependability 4. Flexibility 5. Cost Quality - ANSWERSProducing products and services that satisfy customer needs. Speed - ...

CIPS L5M9 Operations Management LO1

CIPS L4M4 LO1 What is sourcing? - correct answer Sourcing is the location, acquisition and management of all the vital inputs required for an organization to operate. What is tactical/operational sourcing? - correct answer Low-level decision making High profit, low risk items Short-term projects Transactional relationships What is strategic sourcing? - correct answer Top-level decision making High-profit, high-risk items Long-term projects Collaborative relationships What aspe...

CIPS L4M2 LO1 questions and answers latest 2024/2025 what is a business case? - correct answer a document that sets out the justification for undertaking a project on commercial grounds what is a straight re-buy? - correct answer the purchase of an item that was purchased last time there was a need rather than considering an alternative what is a modified re-buy? - correct answer the purchase of an item that was purchased last time there was a need, but with changes to the specificatio...

CIPS L5M9 Operations Management LO1

CIPS L4M4 LO1 exam solution |2024

Health & Social Care Unit 6 - LO1 questions and answers latest 2024