Defining Business Need (questions with elaborate explanation with reference page number of the book).
What you will learn
Understand how to devise a business case for requirements to be sourced from external suppliers.
Understand marketing management in procurement and supply.
Understand the use of specifications in procurement and supply.
Identify risk from inadequate specifications and identify opportunity to regulate short- and longer-term specifications.
Description
This is a core module in the Diploma in Procurement and Supply. The development of a business case and the ability to analyse markets are key if an organization is to successfully source activity from external suppliers. Similarly, the clear definition of specifications for through life contracts is crucial to overall business achievement. After completing this module, learners will be able to devise a business case for requirements to be externally sourced and will understand the role of market management and competitive forces as they specify goods and services in procurement and supply.
Upon completion of the six practice tests based on this module, learners will be able to assess their level of preparation for passing the CIPS exam. The questions have been designed according to the CIPS question format so that participants have a real-life experience of the actual CIPS exam.
After completion of a practice test, participants will know their scores immediately, and they will understand their level of preparation for the Learning Outcome on which they have taken the test. Participants will find elaborate explanations (with graph, chart, table, link, etc.) for every question as to why the answer choice is correct. For ease of understanding, the instructor incorporates the page number of the CIPS Module Book from which the question was asked along with the relevant Learning Outcome.
Content