CIPS L4M8 Exam Verified 100% Correct!!

CIPS L4M8 Exam Verified 100% Correct!! Stage 13: Asset management/end of life The procurement professional should evaluate whether the need is still current. If it is and unchanged, the procurement cycle process commences again but from a different stage as the need is already known and understood. If the need is not required the buyer should manage the end of life by reducing stock levels and informing the supplier Anti-bribery procedures -Proportionate procedures: should be in line with the ype of bribery risk and scale that is likely to be faced -Top level commitment: High level execs should set an example and issue statements, updates and feedback on the procedures and expectations -Risk assessment: Regular and documented risk assessment of the likelihood and impact of bribery -Due diligence: Documented procedures should cover and be enforced by all of the organisation within the supply chain -Communication: Ongoing training and updates should be provided to keep the organisation and its workforce aware of current developments -Monitoring and reviewing: Methods should be implemented to review compliance with the policies and procedures Busisness case for whole life asset management -Introduction -Objective -Approach -Resources -Benefits Procurement Cycle the cyclical process of key steps when procuring goods or services. Steps of the Procurement Cycle 1. Understand Need and develop High level Spec. 2. Market/Commodity and options (inc make or buy assessment).