Protected: L4M4 Final Practice questions
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L4M1 May exam Review and Comment
L4M1 May exam had 4 questions. According to the Principal Marker Report, the respective topics are: Question 1: Procurement and Supply chain management This topic covers the definitions, objectives, and benefits of procurement and supply chain management. Procurement is the strategic function that oversees the purchasing and management of inputs for an organization. It involves activities such as identifying needs, selecting suppliers, negotiating contracts, ordering goods and services, and evaluating performance. Supply chain management is the strategic activity that coordinates…
Brace yourself, new syllabus is coming!
CIPS has released the new syllabus content this year. Students can buy new study guides and e-book from CIPS website since late July 2023. This happens every five years. The change from 2013 syllabus to 2018 one was bigger than this time. You don’t have to worry about the changes. They are minor. You can take your time to finish your Level 4 exams. The only exception is L4M8, which has a lot of revision. We have read the new…
How L4M1 has been updated in the new syllabus?
CIPS has announced new study guides that will be effective from March 2024 exams onwards. This has raised a lot of questions and concerns among CIPS students worldwide. In this post, we will compare the content of L4M1 in the 2018 syllabus and the 2023 syllabus. Chapter 1: Some reorganization and addition Chapter 1 of L4M1 has been reorganized, with 1.1 starting with supply chain, supply chain network and tiering. This is a minor change as the content of this part is the…
L2M4 Mock exam
This is how Evocurement approach to revision class
Approach by Duy Đỗ Phan
The expired ‘fundamental breach’ doctrine
If you ever touch CIPS L5M3 study guide, different types of contract breach may confuse you, especially major breach and fundamental breach. In fact, you don’t need to care about fundamental breach anymore as UK’s House of Lord dismissed this doctrine in 1980. However, if you are interested in gaining deeper understanding of ‘fundamental breach’, this blog post is for you! What is ‘fundamental breach’? Aaron Tan, the author of L5M3 study guide, defines fundamental breach as: “A breach so…
Receiving procedure
Procurement is not only associated with sourcing, but also with supplier relationship, contract management and asset management. Goods and service receiving may sound simple, but it is the first step to check the supplier performance. In this post, we suggest a sample procedure for receiving goods and recording the performance. Goods Receipt An organisation may purchase goods for direct consumption (such as cartridges for photocopying machine) or for stock. In either way, the receiving procedure is not much different from…
Introduction to Plan-Do-Check-Act approach in Quality Management
Quality is a crucial parameter which differentiates an organization from its competitors. Accroding to American Society of Quality, quality management originated from medieval Europe in the late 13th century In the early 20 century, World War II (1939 – 1945) quickened the quality revolution. Prior to the war, the quality movement had progressed gradually, but that progress was impeded by the lack of communication among companies. World War II affected the approach for the management for quality dramatically. It marked…
Net present value in capital expenditure
What is net present value? Net present value (NPV) is the ‘today’ net value that deprives from ‘future’ cash flow of an investment or a capital purchase. Why does Net Present Value (NPV) matter? Imagine you are buying car for personal use. Would you buy a fresh new car or an used car? Of course, fresh new car is often more expensive than the used one, but its life-time tends to be longer. For example, price for a new car…
