Evocurement

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…

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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…

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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…

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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…

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Safety stock is an important and interesting concept in inventory management. However, not every procurement professionals can explain this concept clearly. Some mistake safety stock level with reorder level. Even CIPS Study guide L4M7 does not provide any formula to calculate or at least estimate the quantity of safety stock. Fortunately, the resources on Internet are plenty and free. We have done some research and in this post, we will explain the use of safety stock, formulas to calculate the…

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The term ‘material handling equipment’ is relatively familiar with people working in warehouse areas. It encompasses a diverse range of vehicles, tools and storage equipments. Typically, a warehouse is used to store items, and then move them to where they are needed. The easier it is to move items, the more efficient your warehouse can be. To increase efficiency, you need to have the right tools for the job – it will make your employee’s lives easier, and cut down…

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The term ‘material handling equipment’ is relatively familiar with people working in warehouse areas. It encompasses a diverse range of vehicles, tools and storage equipments. Typically, a warehouse is used to store items, and then move them to where they are needed. The easier it is to move items, the more efficient your warehouse can be. To increase efficiency, you need to have the right tools for the job – it will make your employee’s lives easier, and cut down…

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The term ‘material handling equipment’ is relatively familiar with people working in warehouse areas. It encompasses a diverse range of vehicles, tools and storage equipments. Typically, a warehouse is used to store items, and then move them to where they are needed. The easier it is to move items, the more efficient your warehouse can be. To increase efficiency, you need to have the right tools for the job – it will make your employee’s lives easier, and cut down…

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The term ‘material handling equipment’ is relatively familiar with people working in warehouse areas. It encompasses a diverse range of vehicles, tools and storage equipments. Typically, a warehouse is used to store items, and then move them to where they are needed. The easier it is to move items, the more efficient your warehouse can be. To increase efficiency, you need to have the right tools for the job – it will make your employee’s lives easier, and cut down…

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The term ‘material handling equipment’ is relatively familiar with people working in warehouse areas. It encompasses a diverse range of vehicles, tools and storage equipments. Typically, a warehouse is used to store items, and then move them to where they are needed. The easier it is to move items, the more efficient your warehouse can be. To increase efficiency, you need to have the right tools for the job – it will make your employee’s lives easier, and cut down…

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