CIPS L4M8 Procurement and Supply in Practice Assignment Sample UAE
Procurement is the business function that ensures identification, sourcing and management of external resources to successfully fulfil an organisation’s strategic objectives.
The role of procurement is essential in any organisation, whether it is a small business or a large one. Procurement ensures that the organisation has access to the best resources to achieve its objectives, and that these resources are used in the most efficient way possible. It can be difficult to procure the right resources, and this is what leads to problems.
By using this knowledge, customers can be confident that they are getting the best possible deal. Procurement is essential in any organisation, whether it is a small business or a large one. Procurement ensures that the organisation has access to the best resources to achieve its objectives, and that these resources are used in the most efficient way possible. It can be difficult to procure the right resources, but this is what leads to problems.
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The procurement and supply process in the United Arab Emirates is a difficult one. The government sets strict regulations that must be adhered to, as well as other businesses seeking out bids from suppliers who will submit their own bid at an increased price due to being required by law or market demand not just offer but perform tasks like construction work on site if needed with low profit margins expected so these can get paid more than usual rates; it’s often seen how there are many middlemen involved which makes for really pricey bills when you look at what all went into making your product!
CIPS has created lessons about this topic specifically geared towards students taking L4M8 within its courseware offerings where our expert instructors show exactly how procurement and supply processes work, what to look for when submitting a bid, and how to make the most out of your skills and experience when working in this field!
Assignment Brief 1: Apply the key stages of the procurement cycle to the practical procurement and supply environment
The definition for each stage will vary depending on industry. But in general it covers how to find out what you want from a supplier then how to decide if they can provide it at a good price or not. It also includes evaluating their ability to deliver on time with high quality products that meet your expectations when selecting them as one of many possible vendors who could be considered for an award contract or opportunity .
The key stages of the procurement cycle are as follows:
- Defining business need – This involves understanding what needs to be purchased and how it will be used.
- Market analysis and testing – Here, suppliers are evaluated based on their ability to meet the requirements defined in step one, as well as their pricing and delivery capabilities.
- Supplier evaluation – The best supplier is chosen based on criteria such as price, quality, and delivery time frame. In some cases, an alternative supplier may also be selected if there is a reason why your company should not purchase from that particular vendor or industry vertical you were originally looking into serving or selling products/services towards (e.g., because they don’t offer certain features or services that you require).
Price is not always the only consideration when it comes to choosing a supplier. Other factors such as quality, delivery time frame, and customer satisfaction should also be taken into account when making a decision.
There are a few different phases during a procurement cycle, and one of the most important ones is the supplier evaluation phase. This phase involves analyzing suppliers based on their ability to meet the defined business need, as well as their pricing and delivery capabilities. In addition, supplier evaluation should take into account other factors such as quality, delivery time frame, and customer satisfaction.
If you are looking to purchase products or services from a specific supplier, it is important to take into consideration all of the factors mentioned earlier. By evaluating suppliers through this phase, you can make the best decision for your business.
Assignment Brief 2: Apply the key stages of the sourcing process to the practical procurement and supply environment
The key stages of the sourcing process are:
- Creation of contract terms – This stage includes the development of specifications and requirements for the products or services to be sourced, and the creation of contract terms and conditions. In order to create a contract that outlines the specific requirements of the procurement, both the buyer and supplier will need to agree on a set of terms. This might include delivery timelines, quality specifications, and pricing information.
- Supplier selection – This stage involves identifying potential suppliers and assessing them against predetermined selection criteria. Once the contract terms have been agreed upon, the buyer will then need to select a supplier that can meet those requirements. This process may involve reviewing proposals or conducting supplier interviews.
- Contract award – This stage is when a supplier is selected and a contract is awarded. After selecting a supplier, the buyer will then need to award them the contract in order for work to begin. This could involve signing a contract or issuing a purchase order.
- Contract management and monitoring – The final stage involves managing the supplier relationship, monitoring performance, and resolving any issues that may arise.
In order to successfully award a contract, the buyer and supplier need to agree on terms that are specific to the project. This might include delivery timelines, quality specifications, and pricing information. In order to use the best possible supplier, it is important to assess their qualifications and compare them against predetermined selection criteria.
Assignment Brief 3: Apply whole life asset management to the practical procurement and supply environment
When it comes to the practical procurement and supply of environmental commodities, it’s important to consider all costs – including the purchase price through to disposal and end-of-life. For example, when sourcing timber for construction, developers need to take into account not only the upfront cost of the timber, but also the cost of transportation, storage and eventual disposal.
In addition, when making purchasing decisions it’s important to think about the whole life cycle of an asset or product. For example, when considering buying a new car, one needs to think not just about the initial purchase price but also about fuel costs, maintenance and repairs, as well as insurance and other associated costs. In short, it’s important to think about all aspects of the purchase when making an environmental decision.
It’s important to take into account all of the hidden costs associated with global sourcing – from increased environmental and social risks, to hidden costs that can often be overlooked, such as transportation and supply chain logistics.
It’s also important to be aware of the potential risks associated with extended supply chains. For example, a recent study found that a majority of companies are not prepared for disruptions in their extended supply chains. Disruptions can happen for a number of reasons, such as natural disasters or political instability in other countries. When disruptions occur, it can be difficult for companies to get the products they need, which can cause significant losses in terms of both money and customer satisfaction.
When it comes to practical supply procurement and management, whole life asset management can be applied only to larger purchases. For smaller items – for which the potential consequences of failure are not as severe – a more ad hoc approach is often more appropriate.
That said, when making a large purchase, it’s important to take into account all of the potential long-term implications of that decision. By thinking in terms of the full life cycle of the asset in question, procurement and supply professionals can make better-informed decisions that will have a positive impact on their business well into the future.
Assignment Brief 4: Apply ethical and responsible sourcing to the practical procurement and supply environment
Procurement and supply is a complex process that involves many different stakeholders, including customers, suppliers, manufacturers, distributors and others. In order to ensure the successful outcome of this process it is important for all participants to adhere to ethical and responsible sourcing practices in order to protect both the current and future generations’ environment.
Some examples of ethical and responsible sourcing practices include: –
– Ensuring that materials are sourced from sources which have been paid fairly for their products or services
– Avoiding or minimizing the use of hazardous substances in production processes where possible
– Refraining from purchasing goods produced under conditions which may cause harm either now or in future consumers (e.g., child labour) Reducing demand for products by reducing production or importing them from other countries which are not environmentally friendly .
The goal of this blog post is to provide a general overview of the procurement and supply process and to provide some tips to help participants adhere to ethical and responsible sourcing practices.
One of the most important aspects of an ethical and responsible supply chain is ensuring that all participants adhere to ethical and responsible sourcing practices. This can be done by ensuring that materials are sourced from sources which have been paid fairly for their products or services, avoiding or minimizing the use of hazardous substances in production processes where possible, and reducing demand for products.
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