L4M8 Procurement & Supply in Practice

L4M8 Procurement & Supply in Practice How many stages are there within the CIPS Procurement Cycle? - ANS The CIPS procurement cycle has 13 stages: 1. Understand the need and develop a high-level specification. 2. Market/commodity options including make-versus-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). 7. Issue invitation to tender/request for quotation. 8. Bid/tender/quotation evaluation and validation. 9. Contract award and implementation. 10. Warehouse logistics and receipt. 11. Contract performance review and continuous improvement. 12. Supplier relationship/contract management. 13. Asset management/end of life. What is stage 1 of the CIPS Procurement Cycle? - ANS Understand need and develop a high-level specification. What is stage 2 of the CIPS Procurement Cycle? - ANS Market/commodity options including make-versus-but assessment. What is stage 3 of the CIPS Procurement Cycle? - ANS Develop strategy/plan. What is stage 4 of the CIPS Procurement Cycle? - ANS Pre-procurement market tests and market engagement. What is stage 5 of the CIPS Procurement Cycle? - ANS Development of required documentation, e.g. request for quotation (RFQ). What is stage 6 of the CIPS Procurement Cycle? - ANS Supplier selection to participate in an invitation to tender (ITT). What is stage 7 of the CIPS Procurement Cycle? - ANS Issue invitation to tender/request for quotation. What is stage 8 of the CIPS Procurement Cycle? - ANS Bid/tender/quotation evaluation and validation. What is stage 9 of the CIPS Procurement Cycle? - ANS Contract award and implementation. What is stage 10 of the CIPS Procurement Cycle? - ANS Warehouse logistics and receipt. What is stage 11 of the CIPS Procurement Cycle? - ANS Contract performance review and continuous improvement. What is stage 12 of the CIPS Procurement Cycle? - ANS Supplier relationship/contract management. What is stage 13 of the CIPS Procurement Cycle? - ANS Asset management/end of life. When developing a specification, on what two models can it be focused? - ANS • Performance specification • Technical (conformance) specification