CIPS L3M3 revision Benefits and risks of spot purchases (+Q&A)

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Introduction Contracts are legally bidding agreements. Which means not all agreements are contracts. There are several ways commercial contracts can be categorized for instance; Spot-purchase contracts Term contracts Framework agreements Call offs Benefits and risks of spot purchases is what we intend to look at here and that means were going to look at spot …

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CIPS L3M4 Study guide: How personal and group knowledge lead to organisational success

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Every person who works for an organisation plays a role in its success or failure. In this CIPS L3M4 study guide summary, the goal is to make you understand; What is organisational success The difference between personal and group knowledge How such knowledge help in success Bonus Questions and Answer to help with your exams …

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CIPS L4M3 sample questions on SPECIFICATIONS

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As part of understanding assessment criteria one on CIPS L4M3, that is, Analyse the documentation that can comprise a commercial agreement for the supply of goods or services, here are some CIPS L4M3 sample questions on specifications. Access more questions and the end of these questions as wells are the answers and explanations. QUESTIONS (answers …

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CIPS L4M3 SAMPLE QUESTIONS invitation to tender or request for quotations

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As part of understanding assessment criteria one on CIPS L4M3, that is, Analyse the documentation that can comprise a commercial agreement for the supply of goods or services, here are some CIPS L4M3 sample questions invitation to tender or request for quotations. Access more questions and the end of these questions as wells are the …

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CIPS L5M3 Sample questions Elements of a valid contract

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CIPS L5M3 Sample questions Elements of a valid contract Remember you access video lesson, downloads and practice exercises on CIPS L5M3 Managing contractual risks here Understanding the elements of a valid contract is important if you want to manage contractual risks. Why is that? A lot of things can go wrong in a commercial agreement …

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3 types of purchase in procurement you must know

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3 types of purchase in procurement you will be dealing with as a procurement professional are straight re-buy, modified re-buy and new buy Remember not every purchase you undertake will follow the steps you see in procurement cycle or even require detailed justification from a business case. For some purchases, detailed analysis will have already …

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