CIPS L4M4 Ethical and Responsible Sourcing Assignment Sample, UAE
In any organization, a significant part of procurement and supply activity is based on the decision to internally conduct this work or externalize it. In order for an establishment’s operations team to be successful at their job they need to have knowledge about what kind of supplier best suits their needs when deciding where some goods should come from that would meet these specifications.
There are several factors involved in making such selections which can’t just rely solely upon price because one might get taken advantage of if he buys something too cheaply made without considering other aspects like quality control- so how do you select wisely? By utilizing our new module all personnel responsible within purchasing as well those dealing with suppliers will learn how to formulate criteria (by looking over available options) then sourcing strategies that best meet the needs of our customers.
This blog post is about how the module helps procurement and supply teams make better decisions when sourcing goods. To start, the module includes a case study on a company that purchased goods from several suppliers. The company used the module to help them form criteria for choosing the supplier that best meets their needs and then sourcing strategies that best meet the needs of their customers.
The module helped the company identify problems with some of the suppliers and develop strategies to correct them. By using the module, procurement and supply teams can make better decisions when sourcing goods.
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Assignment Task 1: Identify the sourcing process in relation to procurement
Sourcing is the process of finding, identifying and securing goods and services that meet the company’s needs. Outsourcing is when a company hires another organization to provide goods or services that would otherwise be procured internally.
The decision-making process in relation to procurement can include these steps:
1) Make or buy decision – this step usually takes into account financial factors such as cost effectiveness and profitability
2) Researching suppliers – during this stage, information about potential suppliers should be gathered through interviews, presentations or web research
3) Sealing the deal with a supplier – once a finalist has been identified by way of negotiation, they will undergo due diligence checks including physical inspection if necessary
4) Negotiating – during the negotiation process, a supplier’s proposal will be analyzed and evaluated in order to determine whether or not it is a fair deal
5) Post-procurement support – after the goods or services have been delivered, support should be provided to ensure quality and performance.
Outsourcing can be a beneficial option when it comes to procuring goods or services because it can save money and time. However, it is important to be aware of the potential consequences of outsourced procurement, such as improved quality and performance.
When looking to outsource, it is important to carry out due diligence on potential suppliers before making a decision. Additionally, it is important to negotiate a fair deal with the supplier, in order to protect both parties’ interests. Finally, post-procurement support should be provided to ensure quality and performance.
Outsourcing is typically initiated by the search for cost savings. Firms may outsource to improve their financial performance or to focus on their core competencies. tactical sourcing, which is the process of acquiring goods and services on a short-term basis to address a specific need.
Strategic sourcing, also known as long-term sourcing, is the process of selecting and contracting with suppliers that can provide the best overall value to the organization over time. It takes into account not only the current costs of goods and services but also such factors as quality, delivery reliability, total cost of ownership, and supplier flexibility.
Strategic sourcing allows organizations to Contract with Suppliers for a longer period of time, which gives suppliers the opportunity to provide quality products and services at a lower cost.
Assignment Task 2: Differentiate between approaches to the sourcing of requirements from suppliers
There are a few different approaches to sourcing requirements from suppliers, but the most common are Requests for Proposal (RFP) and Requests for Information (RFI).
An RFP is generally used when the buyer has a well-defined need and is looking for suppliers who can meet that need. An RFI is generally used when the buyer is still trying to define their needs or is unsure of what they want.
Another difference between RFPs and RFIs is that an RFP usually requires more documentation from suppliers, while an RFI typically asks for less.There are three main ways to source requirements from suppliers: open, restricted, and negotiated.
Open tendering is where potential suppliers are invited to submit a proposal in response to a request for quotation (RFQ). This approach is often used when the requirement is well-defined and there is only one acceptable supplier.
Restricted tendering is where potential suppliers are invited to submit a proposal in response to a request for proposal (RFP). This approach is often used when the requirement is not well-defined or there are multiple acceptable suppliers.
Negotiated procurement involves dialogue between the buyer and seller with the aim of reaching an agreement on price, specification, and delivery date. This approach is often used when the buyer and seller are not familiar with each other or when the quality of the proposal is suspect.
There are three main ways that companies can source requirements from suppliers: single sourcing, dual sourcing, and multiple sourcing.
With single sourcing, a company relies on a single supplier to provide all of the necessary products or services. This can be problematic if the supplier experiences problems or fails to meet the company’s needs.
Dual sourcing involves working with two different suppliers to provide products or services. This can help ensure that the company has a backup in case one of the suppliers fails to meet its obligations. However, it also increases administrative costs and may lead to conflict between the two suppliers. Multiple sourcing is when a company works with three or more suppliers to provide products or services. This can help reduce the risk that a single supplier will fail to meet the company’s needs. However, it can also lead to a higher price and shorter delivery schedule.
Assignment Task 3: Define selection criteria that can be commonly applied when sourcing requirements from external suppliers
When sourcing requirements, it is important to define selection criteria that can be commonly applied when obtaining items from external suppliers.
Some common selection criteria for obtaining items include the supplier’s product quality, delivery time and cost, and if they offer any special deals or discounts. It is also important to ask about the supplier’s return policy in case there are any problems with the purchased product. By doing this research ahead of time, you will have a better idea of what type of supplier meets your needs best and avoid wasting time looking for one when you already found one that suits your needs just fine after all!
You can perform some simple research by asking your friends or family if they know of any good suppliers of products they are desperate to procure. Doing this will help you sort through a large number of potential suppliers quickly and make informed decisions about which to pursue.
When sourcing requirements, quality assurance is one of the key selection criteria that is commonly considered. In order to ensure that products and services meet the required standards, it is important to work with suppliers that have a proven track record in delivering high-quality products and services.
Environmental and sustainability considerations are also becoming increasingly important when sourcing requirements. Many companies are now looking for suppliers that share their commitment to protecting the environment and promoting sustainable practices. Other common selection criteria include price competitiveness, delivery performance, and customer service standards.
When it comes to finding quality suppliers, there are several important factors to consider. For example, quality assurance is a critical selection criterion when searching for a supplier. To ensure that products meet the required standards, it is important to work with a supplier with a proven track record.
Another important selection criterion when looking for quality suppliers is price competitiveness . Many companies are now looking for suppliers that share their commitment to protecting the environment and promoting sustainable practices.
When it comes to finding a quality supplier, there are several important factors to consider. For example, quality assurance is a critical selection criterion when searching for a supplier. To ensure that products meet the required standards, it is important to work with a supplier with a proven track record.
Assignment Task 4: Define award criteria that can be commonly applied when sourcing requirements from external suppliers
Award criteria can be commonly applied when sourcing requirements from a variety of sources, including suppliers, customers or other organizations.
Awards are often based on performance measurements such as cost per unit produced, time to market or quality achieved. Awards may also be granted for innovation and creativity in design or engineering solutions that meet customer needs better than traditional approaches. Awardees typically receive recognition at the organization’s annual meeting with senior leadership team members present to celebrate their achievements.”
“The most common types of awards include: “Best New Product,” which recognizes an idea pitched by an employee which has not been developed before.
“Innovator Award,” given to recognize outstanding contributions from individuals who come up with new ideas that drive productivity improvements.
“Best Use of Technology Award,” which goes to an organization that has used technology in a positive manner to improve customer experience or save time or money.
“Performance Award,” which is given to an organization that has achieved a specific goal set by the organization, such as increasing sales or reducing costs.
“Merit Award,” which is given to an individual who has made a significant contribution to the organization, such as being a top performer in a particular area of work.
Award criteria vary depending on the organization, but typical awards include; price, total life cycle costs, technical merit. Award winners are typically determined by a committee of judges who deliberate over submitted proposals and select the best option based on their merits.
Organizations may also offer ‘best of’ or similar type of award that only focuses on one criterion among many possible award criteria such as design excellence in architecture or marketing effectiveness in branding campaigns.
Awards can be given to individuals (such as an employee), departments (such as Marketing), projects (a specific task completed) or any other unit within an organization which has met certain objectives set out before it. The most common objective is probably achieving some sort of success in a specific area of work or making a significant contribution to the organization.
Merit Awards can be very helpful in reducing costs or increasing sales. They can also be helpful in achieving some sort of success in a specific area of work or making a significant contribution to the organization. awards are typically determined by a committee of judges who deliberate over submissions and select the best option based on their merits. Organizations may also offer ‘best of’ or similar type of award that only focuses on one criterion among many possible award criteria, such as design excellence in architecture or marketing effectiveness in branding campaigns.
Assignment Task 5: Analyse commonly used sources of information on market data that can impact on the sourcing of requirements from external suppliers
There are a number of different sources that can impact on the sourcing of requirements from external suppliers. These include, but are not limited to:
- Trade journals
- Industry publications
- Government reports and statistics
- Media outlets
- Online news sites.
Market data is also available through various subscription databases such as Bloomberg Businessweek or Forbes which offer up-to-date information on company profiles and industry trends. This type of database would be most suitable for research purposes where you are looking for specific pieces of information about companies within an industry sector. If your requirement is more general in nature then one option could be to use Google’s advanced search function with keywords combined with ” sourcing requirements” in the text field to find similar requirements from a range of sources.
When it comes to sourcing requirements, it’s important to keep a few things in mind. First and foremost, trade journals, industry publications, government reports and statistics, and media outlets (newspapers, magazines) are all great sources of information.
Additionally, subscription databases such as Bloomberg Businessweek or Forbes can be helpful in finding specific requirements for companies within an industry. If you’re looking for information about specific companies within the industry, then you can use Google’s advanced search function with keywords combined with ” sourcing requirements.”
One of the most common sources for market data is “compilation” or “data”. This type of information can be found in newspapers, magazines, books and other printed materials. Compiled data usually comes from a variety of government agencies , private companies or trade associations. It may also include statistics generated by research firms such as Gartner Group Inc., IDC Health Insights or Strategy Analytics PLC.
Data compilation is an important part not just for investors but also business owners who want to stay ahead of their competition. By keeping up with what’s happening in the marketplace you’ll be able to make better decisions about where your company should invest its resources
Another important part of any business is keeping up with the latest trends in the marketplace. By using Google’s “Advanced Search” feature, you can combine specific keywords with “sourcing requirements” in order to find companies that match your needs. This can be a great way to find the perfect company for your business and get the best deal.
It’s no secret that keeping up with the latest trends in the marketplace is an important part of any business. By using Google’s “Advanced Search” feature, you can combine specific keywords with “sourcing requirements” in order to find companies that match your needs.
Assignment Task 6: Identify the key processes used for obtaining quotations and tenders
The key processes used for obtaining quotations and tenders are advertising requirements, requests for information or quotations.
The process of requesting quotes typically begins with a company’s marketing department identifying the product categories in which they need assistance. They will then create an “advertising requirement” specifying what type of suppliers should respond to this RFQ.
The marketing department then sends out an RFOA (Request For Offer) document that specifies all the desired specifications about their project, such as quantity needed, size range desired by customer etc., along with any other pertinent details like material needs or lead time required by customer if not self-supplied by supplier . This advertisement serves two purposes:
1) To elicit responses from potential suppliers
2) To help market the product to potential customers .
Once a supplier has responded to an advertisement, the marketing department needs to obtain quotations from potential suppliers. The quotations are obtained through a ” quotation request” document which is sent to the suppliers. The request for information or quotations is made in an attempt to identify the best options for the customer.
A process for obtaining quotations and tenders is to formally arrange the process, identify decision criteria for dispensing with tenders, and establish a price limit.
The key processes used in obtaining quotations and tenders are formulating arrangements (which may include establishing deadlines), identifying decision criteria for dispensing with tenders (i.e., if you don’t receive any bids below your set minimum or maximum prices), and establish a price limit.
A tender may be rejected if it does not meet these requirements or other specified standards such as being free of errors in spelling, grammar and punctuation; including all necessary supporting documentation; having been issued at least 30 days before the date of first quotation not containing any information that would give an advantage to competitors and meeting the quality standards of the supplier.
Assignment Task 7: Identify the criteria that can be commonly applied to the assessment of quotations or tenders
The criteria that can be commonly applied to the assessment of quotations or tenders.
Quotations and tenders are two ways in which a business will communicate with suppliers, contractors, or other interested parties about the terms of a proposed transaction. Quotations are used when issuing requests for offers (RFOs) while tenders are issued through invitation for expression of interest (IFEOs).
A quotation includes the quantity required and any special requirements such as delivery schedule, price range etc., whereas a tender does not include quantities nor any specification other than those details required by law or normal practice within that industry sector. For example if you’re looking for someone to do repairs on your roof then your quotation would include the cost of the repairs and what it would cost to do them in an hour, while a tender would not.
There are a few things to keep in mind when assessing a quotation or tender. The first is that quotations and tenders should only be used if the business is authorised to use them by the relevant government or regulatory body. Secondly, quotations should only be used where there is an express written agreement between the business and the supplier or contractor . If there is no written agreement the business should not use a tender.
Finally, quotations and tenders should be used in a discriminate way – that is, where the business is looking for only the best available supplier or contractor.
Assignment Task 8: Analyse how electronic systems can be used to help the sourcing of requirements from external suppliers
Electronic systems can be used to help the sourcing of requirements from external suppliers in a few ways.
One way is through an electronic system that is used to track supplier performance. This system can be used to measure supplier performance against specific requirements, and can also be used to collect data on supplier quality and delivery performance. This data can then be used to make informed decisions about which suppliers should be used for future requirements.
Another way that electronic systems can be used to help the sourcing of requirements is through a system that is used to manage supplier communications. This system can be used to track all communications between a company and its suppliers, and can also be used to archive all communications between the two parties. This data can then be used to make decisions about which supplier should be used for future requirements.
There are many benefits to using electronic systems to help the sourcing of requirements from external suppliers. One benefit is that it can help to track supplier performance against specific requirements and can also be used to collect data on supplier quality and delivery performance. This data can then be used to make informed decisions about which suppliers should be used for future requirements.
There are a number of electronic systems that can be used to help with the sourcing of requirements. Two such systems are e-requisitioning and purchase ordering systems.
E-requisitioning systems allow buyers to create and send requests for products and services electronically. This can save time, as it eliminates the need to fill out a paper requisition form and submit it through the mail or in person. It also allows buyers to track the status of their requests, as well as receive updates on the products or services they have requested.
Purchase ordering systems allow buyers to create orders for products and services electronically. This can save time, as it eliminates the need to fill out a paper purchase order form and submit it through the mail or in person. It also allows buyers to track the status of their orders, as well as receive updates on the products or services they have requested.
E-requisitioning and purchase ordering systems are two of the many electronic systems that can be used to help with the sourcing of requirements. They can help to streamline the process and save time for both buyers and manufacturers.
Assignment Task 9: Compare the key legislative, regulatory and organisational requirements when sourcing in the not for-profit, private and public sectors
There are some key legislative, regulatory and organisational requirements that need to be considered when sourcing in the not for-profit, private and public sectors. In the not for-profit sector, organisations will need to consider their charitable status and how this will impact any potential procurement.
Private sector businesses will need to ensure they are compliant with state and federal regulations, such as the Fair Labor Standards Act (FLSA) which sets out minimum wage and overtime pay rules. Public sector organisations will need to meet a range of legislative and regulatory requirements, such as those around equal opportunity employment.
E-catalogues on intranets and the internet are a key part of doing business in the 21st century. By having an electronic catalogue, you can make your products and services available to customers all over the world with the click of a button.
There are a few key requirements for putting an e-catalogue on the internet. The first is that you need a good website design company that can create an attractive and user-friendly interface for your catalogue. The second is that you need to make sure your website is accessible from all devices, including PCs, laptops, smartphones, and tablets. And finally, you need to make sure your website is compliant with all relevant regulatory requirements, such as GDPR in Europe or the US’s Federal Trade Commission (FTC) regulations.
The key legislative, regulatory and organisational requirements for the use of e-auctions and reverse auctions are that they must be conducted through an automated process; there should not be any human intervention in the bidding or offer process; all offers must be submitted by pre determined deadline; successful bidders must pay via electronic funds transfer.
There’s also a requirement that if you’re going to do an auction where people can bid on your behalf then you need authorisation from ASIC (the Australian Securities & Investments Commission). You’ll need this because under law it’s illegal for someone who doesn’t have legal title to an asset – ie somebody who doesn’t own it outright to bid on an asset in an auction. However, the use of e-auctions and reverse auctions isn’t limited to just security auctions. In fact, in some cases, you can actually use them to auction off products that don’t meet the definition of an asset, such as software.
Assignment Task 10: Compare the key legislative, regulatory and organisational requirements when sourcing from international suppliers
The key legislative requirement is that your company adheres to the laws of the country from which the supplier is sourced. The regulatory requirements will depend on the product or service you are sourcing. For example, if you are sourcing food items, there may be specific health and safety regulations that must be followed.
The organisational requirements will vary depending on your company’s policies and procedures. However, some general things to consider include establishing a process for verifying supplier compliance, implementing a system for tracking goods in transit, and having protocols in place for managing any quality issues that may arise.
Whether you’re sourcing food, products or services, adhering to the laws and regulations of the country from which the supplier is sourced can be an essential part of ensuring quality and safety. In some cases, specific health and safety regulations may apply. However, even if your company doesn’t have specific guidelines in place, there are a few things you can do to verify supplier compliance.
One way to do this is to have a process for verifying supplier compliance. This could involve establishing a process for verifying supplier compliance, implementing a system for tracking goods in transit, and having protocols in place for managing any quality issues that may arise. This will help ensure that your company upholds the quality standards of the supplier and meets the needs of its customers.
Assignment Task 11: Describe the impact of international ethical standards on procurement and supply
There are a number of international ethical standards that impact procurement and supply, including bribery, corruption, and fraud. All three of these can have a devastating impact on both the individual and businesses involved, as well as the wider community. Human rights violations can also occur in the procurement and supply process, for example when modern slavery is used.
It’s vital that businesses take steps to ensure their suppliers are operating ethically and in line with all relevant ethical standards. This helps to protect both the workers in supplier factories and the business itself from any potential negative consequences.
There are a number of ethical standards that impact procurement and supply, including bribery, corruption, and fraud. All three of these can have a devastating impact on both the individual and businesses involved, as well as the wider community.
Human rights violations can also occur in the procurement and supply process, for example when modern slavery is used . It’s vital that businesses take steps to ensure their suppliers are operating ethically and in line with all relevant ethical standards. This helps to protect both the workers in supplier factories and the business itself from any potential negative consequences.
One of the most important ethical standards when it comes to procurement and supply is the anti-corruption rule. This rule states that any company that supplies goods or services to another must be in compliance with applicable anti-corruption laws. This helps to ensure that businesses are working with ethical companies that meet all the necessary regulations.
It’s also important to note that companies should not just focus on complying with the anti-corruption rule, but also other ethical standards that are relevant to their business. For example, they should be aware of the code of conduct that their employees must follow. This code of conduct ensures that employees are working in a healthy environment and are treated fairly.
Assignment Task 12: Identify practices that support ethical procurement
The application of the CIPS Code of Conduct, Ethical codes of practice and specific KPI’s are all important components in ensuring an organisation has a successful ethical procurement strategy.
The CIPS Code of Conduct sets out the fundamental values and principles that underpin everything we do as professionals within the industry. It is therefore an essential starting point for any organisation wishing to develop an ethical procurement strategy. The Ethical Codes Of Practice provide further guidance on how best to apply these standards within your organisation, while KPIs can help you measure progress against set targets. By applying these three elements – The CIPS Code Of Conduct, Ethical Codes Of Practice & Key Performance Indicators- it will be possible for organisations to create an ethical procurement strategy that will be counterproductive to their interests but one that will ultimately deliver successful results.
Whether you’re a professional or amateur organisation looking to adopt an ethical procurement strategy, it’s important to understand the basics of what goes into making such a policy work. The CIPS Code Of Conduct sets out fundamental values and principles that underpin everything we do as professionals within the industry. This is supplemented by the Ethical Codes Of Practice, which give further guidance on how best to apply these values across your organisation. Finally, there are key performance indicators that can help you measure progress against set targets.
There are a number of ways that organizations can support ethical procurement. Some of the most important include:
- Checking supplier quotations and tenders for compliance with ethical practices such as fair treatment, non-discrimination, human rights, environmental protection, etc.
- Considering the social responsibility of suppliers in selecting them based on their commitment to these values.
- Training staff on how to identify potential conflicts between business objectives and principles of justice or sustainability when making purchasing decisions or evaluating offers from suppliers.
- Encouraging employees who have responsibility for purchasing goods or services to take an interest in what they buy by becoming personally involved in choosing products themselves rather than relying solely on input from others. This way they will be more likely to question and object to products that they believe do not meet their needs.
Assignment Task 13: Compare the use of audits and other feedback mechanisms to evaluate ethical standards in the workplace
An audit is a formal process of examining records and other evidence to assess whether an organization is complying with certain laws or regulations. An audit can also be used to evaluate the effectiveness of an organization’s ethics program. However, audits can be expensive and time-consuming, and they may not be appropriate for all organizations.
It depends on the organization and what they are trying to accomplish. In some cases, an audit may be the most effective way to evaluate ethical standards in the workplace, while in other cases a different mechanism, such as anonymous feedback, may be more effective
Anonymous feedback mechanisms are a way for employees to provide feedback about their experience working at an organization without identifying themselves. This type of feedback can be valuable in increasing employee satisfaction and loyalty. temporarily suspending employees for violating company policy can be very costly for an organization.
Audits can play a valuable role in an organization and can be a way to improve ethical standards. However, audits may not be appropriate for all organizations and may not be the most effective way to evaluate ethical standards.
There are a few different ways to evaluate ethical standards in the workplace:
- Audits – Audits are formal evaluations of a company’s ethical standards. They can be conducted internally or externally, and they usually involve a review of policies and procedures as well as interviews with employees.
- Compliance programs – Compliance programs are systems put in place by companies to ensure that their employees comply with the law. They usually include training, monitoring, and reporting mechanisms.
- whistleblowing hotlines – Whistleblowing hotlines are lines employees can call to report unethical behavior or violations of the law. They provide a way for employees to anonymously report misconduct without fear of retaliation.
- Ethics committees – Ethics committees are groups of employees who are appointed by an organization to review ethical standards and make recommendations to higher-ups. They can also develop rules and regulations for the workplace.
There are a few different ways to evaluate ethical standards in the workplace and each one has its own advantages and disadvantages. It’s important to carefully consider which approach would be the best for your organization.
Assignment Task 14: Contrast processes and practices that the organisation could adopt to meet the requirements of Corporate Social Responsibility (CSR)
There are a few processes and practices an organisation could adopt to meet the requirements of CSR. One process would be to have an environmental policy in place that outlines the company’s goals for reducing its carbon footprint. Additionally, the company could establish a donation program to give back to the community, and create partnerships with organisations that share its values when it comes to social responsibility. Practices wise, the company could promote ethical labour practices within its supply chain and encourage diversity and inclusiveness in its workforce.
An organisation that is looking to meet the requirements of CSR should have a few processes and practices in place. One such process would be to have an environmental policy in place that outlines the company’s goals for reducing its carbon footprint. Additionally, the company could establish a donation program to give back to the community, and create partnerships with organisations that share its values when it comes to social responsibility. Practices wise, the company could promote ethical labour practices within its supply chain and encourage diversity and inclusiveness in its workforce.
One way an organisation could meet the requirements of CSR is by establishing an environmental policy. An environmental policy would outline the company’s goals for reducing its carbon footprint . Additionally, the company could establish a donation program to give back to the community and create partnerships with organisations that share its values when it comes to social responsibility.
The organisation could adopt a number of processes and practices in order to meet the requirements of Corporate Social Responsibility (CSR). These might include:
- Becoming more environmentally sustainable by reducing energy consumption and waste production, and increased use of recycled materials
- Supporting local communities through donations, sponsorships or volunteering
- Promoting diversity and equal opportunity in the workplace
- Being transparent about company policies and procedures, as well as performance against CSR targets
- Acting ethically and responsibly in all dealings with customers, suppliers, employees and other stakeholders.
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