L4M1 LO2

Question 1

CIPS ProcSupp Cycle

*Name S1 & S2
* S1 (2)
*S2 (3)
* Add`l (1)

Answer 1

1) Def. Business need + Dev. Spec.

1- ID Need?, Rebuy/New Purch. + B.Case
2 - Req. by Spec. (P/Con)

2) Market Analysis & MvB Decision

1- Market Seg. Buyer, Product, Geo, ConAn)
1- Por5Fs 2 - C10C`s
- Outsource @ this stage

Question 2

CIPS ProcSupp Cycle

*Name S3 & S4
* S3 (2)
*S4 (3)

Answer 2

3) Def. Strat./Plan

1 - STEEPLE / SWOT
2 - Timing: To Procu.? Timelines? Budgets?

4) Pre-Proc. Market Testing

1 - Factors (All Stakeholders Engagement)
1 - ∆ Legis. + ∆£Fluc.
2 - Succeed?

Question 3

CIPS ProcSupp Cycle

*Name S5 & S6
* S5 (3)
*S6 (3)

Answer 3

5) Dev. Doc. + Contract Terms Creation

2 - Prep. + Create Req. + Tender Docs
1 - RFQ + ITT (+ KPIs)
1 - Def. Offer @ ts

6) Supp. Selection

1 - Rebuys/ New Purch. needed?
1 - Reb. = Pre-App. Supp. list
1 - N. Purch. = PQQ sent

Question 4

CIPS ProcSupp Cycle

*Name S7 & S8
* S7 (1)
*S8 (3)

Answer 4

7) Issue Tender

1 - Decide O/Close Proc. exercise

8) Bid/Tender Evalu.

1 - ∆ Pub. & Priv.
1 - Pu = Transparency + =Treat. + ∝
1 - Consid. £P & Qual.

Answer 5

Added value refers to the extra worth or enhancement a company provides to a product, service, or process that goes beyond the intrinsic value inherent in the initial input. It represents the additional benefits or features that make a product or service more desirable to customers, often justifying a higher price or distinguishing it from competitors.

Procurement often look to achieve added value in procurement activities but achieving this whilst remaining compliant (adhering to established laws, regulations, standards, and internal policies) can be tricky.

Achieving a delicate equilibrium between pursuing added value and ensuring stringent compliance in procurement activities is pivotal. This essay explores the consequences of emphasizing one area over the other and outlines strategies for organizations to successfully navigate the dual goals of attaining added value and maintaining compliance.